May 2017  
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Issue No. 5 - 2017 of the European Taxation is now available online.

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International Tax Aspects of Permanent Establishments
5-8 September 2017
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Number 5 - 2017 contains the following:
ARTICLES
European Union

The Commission’s Proposal for a Directive on Double Taxation Dispute Resolution Mechanisms: Overcoming the Final Hurdle of Juridical Double Taxation within the European Union?

Luca Cerioni

This article examines the Commission’s proposal for a Directive on Double Taxation Dispute Resolution Mechanisms, highlighting interpretative issues that arise from its wording and discussing the conditions under which it could potentially lead to the elimination of (juridical) double taxation within the European Union.

European Union

EU Implementation of BEPS Action 12 in Light of Human Rights Requirements

Jasna Voje

The author examines the tools available to tackle aggressive tax planning and presents the framework for a mandatory disclosure regime referred to in Action 12. She argues for a potential mechanism in the form of an EU directive to adequately address cross-border tax schemes. Further, the limitations on EU action in light of human rights law are analysed.

European Union

An Analysis of ECJ Case Law on Discriminatory Cross-Border Inheritance Tax

Gracia Mª Luchena Mozo

This article addresses the European Commission’s recently launched package on issues of double taxation and discriminatory tax treatment in the area of inheritance and estate tax. In the Commission’s paper, the Commission discusses 10 cases in which the Court of Justice of the European Union (ECJ) examined the inheritance tax rules of Member States. In eight out of the ten cases, it concluded that the Member States in question breached EU rules on the free movement of capital and/or freedom of establishment.

International
Convertible Debt Instruments in International Tax Law – Part 2
Jakob Bundgaard
This two-part article contains an in-depth analysis of a variety of convertible debt instruments from the perspective of international tax law. Part 1, which was published in European Taxation 4 (2017), covered optional convertible instruments, mandatory and reverse convertibles, contingent convertibles, warrants and option loans and provided an overview of domestic law in a number of countries. Part 2 analyses the classification and treatment of the different types of convertible debt instruments from the perspective of EU corporate tax directives and tax treaties.
EU UPDATE
Council
Oana Popa
Court of Justice
Oana Popa
WHAT'S GOING ON IN ...
Hungary

Marked Reduction in Tax Burden for Companies from 2017 Onwards Due, in Part, to a Revamping of Employee Benefits

Roland Felkai

This note addresses the efforts of the legislator to enact significant reductions in the corporate tax burden from 2017 onwards following several years of stability in respect of Hungarian tax law. This is to be accomplished by lowering income taxes, on the one hand, and reducing non-wage labour costs, on the other.

Italy

Participation Exemption and Foreign Entities: How Far Can Judicial Interpretation Go?

Stefano Morri and Stefano Guarino

The authors of this note discuss the decision of the Regional Tax Court of Abruzzo in Decision No. 1477 of 28 September 2015, wherein the Court extended, by way of interpretation, the more favourable capital gains tax regime applicable to domestic companies to gains realized by a French company.

OFFICIAL JOURNAL OF THE CONFÉDÉRATION FISCALE EUROPÉENNE