International Business: Tax & Law

Advanced Issues in International and European Tax Law by Christiana Hji Panayi This book examines recent developments and high-profile debates that have arisen in the field of international tax law and European tax law. Topics such as international tax avoidance, corporate social responsibility, good governance in tax matters, harmful tax competition, state aid, tax treaty abuse and the financial transaction tax are considered. The OECD/G20 project on Base Erosion and Profit Shifting (BEPS) features prominently in the book. The interaction with the European Union's Action Plan to strengthen the fight against tax fraud and tax evasion is also considered. Particular attention is paid to specific BEPS deliverables, exploring them through the prism of European Union law. Can the two approaches be aligned or are there inherent conflicts between them? The book also explores whether, when it comes to aggressive tax planning, there are internal conflicts between the established case law of the Court of Justice and the emerging policy of the European institutions. By so doing it offers a review of issues which are of constitutional importance to the European Union. Finally, the book reflects on the future of international and European tax law in the post-BEPS world.

BRICS and the Emergence of International Tax Coordintation The BRICS have been all the rage from the beginning of the millennium. This book focuses on the shift of power in the global economy from the traditionally dominant nations that comprise the OECD, or, even more narrowly, the G7, to emerging economies, perhaps led by the BRICS. The remodelling of the power structure shaping the global economy and global economic governance more generally is possibly being paralleled by a corresponding reformatting of international taxation. The dominance of the richest countries in the world over the international tax regime that had evolved over the second part of the 20th century is being defied as the 21st century progresses. Emerging economies, within and outside the OECD, assert their newly found power to acquire voice and influence on the international tax agenda. This book is the first to map and analyse the effect of these power shifts on the evolution of the international tax regime in general and on tax treaties that follow the OECD Model in particular. This effect is examined from a wide variety of perspectives and views, considering its substantive tax technical, institutional and political aspects. A leading group of experts contributed to form this new discourse that focuses on, yet is not limited to, the BRICS. They take an independent, scholarly and realistic approach to the various options available to the BRICS and other emerging economies in their quest for a voice in the governance of the international tax regime. The potential for cooperation among the BRICS and similar nations is at the core of the discourse. It is explored in depth on its own and as a primary influence on the emergence of international tax cooperation more generally.

The External Tax Strategy of the EU in a Post-BEPS Environment Recent developments in tax policy within the European Union and at the international level (i.e. BEPS Actions and the BEPS implementation process) have made it relevant to analyse how the European Union interacts in tax terms with other relevant international tax actors (i.e. the OECD and third countries). The European Union has tried to define its own standards of good tax governance, which are not completely equal to those of the OECD, and is trying to export those standards to third countries. Like its internal tax policy, the external policy is more inclined to protect Member States'tax bases and their competitive position than to promote single or free market values, which may contradict some of the free trade and fundamental goals the European Union sought to protect. In this field, recent developments in the case law of the Court of Justice of the European Union also need to be taken into account and may exert a very relevant influence on the formulation of the external tax policy, up to the point at which a change in direction may be needed. Within this context, the book explores the configuration of the external tax policy of the European Union, including (i) what the differences or similarities are with international standards already defined at the international level; (ii) where there may be problems in terms of interaction with those standards or with EU law principles; and even (iii) whether the European Union is behaving in a protectionist manner in tax terms. It also offers input on areas in which the external tax policy of the European Union should be reconsidered, as well as on the specific situations of some of its main trading partners (e.g. the United Kingdom and the Brexit process or the United States in the context of its tax reform). This publication seeks to stimulate debate among scholars, policymakers, practitioners and politicians from the European Union and third countries in a field that still needs further debate and a solid reconsideration of its foundations.

Fixing U. S. International Taxation by Daniel N. Shaviro International tax rules, which determine how countries tax cross-border investment, are increasingly important with the rise of globalization, but the modern U.S. rules, even more than those in most other countries, are widely recognized as dysfunctional. The existing debate over how to reform the U.S. tax rules is stuck in a sterile dialectic, in which ostensibly the only permissible choices are worldwide or residence-based taxation of U.S. companies with the allowance of foreign tax credits, versus outright exemption of the companies' foreign source income. This book explains why neither of these solutions addresses the fundamental problem at hand, and it proposes a new reformulation of the existing framework from first principles. It shows that existing international tax policy frameworks are misguided insofar as they treat “double taxation” and “double non-taxation” as the key issues, conflate the distinct questions of what tax rate to impose on foreign source income and how to treat foreign taxes, and use simplistic single-bullet global welfare norms in lieu of a comprehensive analysis.

International Corporate Taxation by Miranda L. Brady; Samantha C. Hansen Recent deficit reduction and tax reform plans have included broad proposals to reform the U.S. international corporate tax system. These proposals have raised concerns over how changing the way American multi-national corporations are taxed could impact the deficit and debt, domestic job markets, competitiveness, and the use of corporate tax havens, among other things. An informed debate about how to reform the system governing the taxation of U.S. multi-national corporations requires careful consideration of these issues, as well as a basic understanding of several features of the current system. This book provides a general introduction to the basic concepts and issues relevant to the U.S. international corporate tax system and with a focus on how other countries have used tax reform to help their companies compete in the global market and create jobs.

Non-Discrimination in Tax Treaties: Selected Issues from a Global Perspective The principle of non-discrimination is an evergreen of international tax law. While the principle's core concept remains stable, its importance in tax matters keeps growing. As its implications, regional dimensions and topical applications very frequently change around the world, constant monitoring and updating is essential to seize its current essence. This book aims to find a global dimension of the non-discrimination principle in tax law through the analysis of issues with theoretical and practical importance. It contains contributions from nine leading European and international tax law experts.-- Source other than Library of Congress.

OECD Arbitration in Tax Treaty Law Arbitration: the solution to tackle cross-border tax disputes From the increasing integration of the world economy and the lack of rules to govern the taxation of multinational enterprises to cross-border tax disputes: arbitration is one potential solution. Arbitration is not a new development in the international tax arena, but it has not yet been widely implemented in practice. In the last few years, the concept of arbitration in tax matters was revived, mainly following the OECD/G20 BEPS Project, as well as the EU Action Plan on Corporate Taxation. Now arbitration is expected to play a more significant role and enhance the existing framework of cross-border tax dispute resolution.'OECD Arbitration in Tax Treaty Law'constitutes a comprehensive compendium on international tax arbitration and provides in-depth analysis of all relevant aspects of the topic. The introductory chapters provide background information on tax arbitration and comparisons with other areas of law. The book also takes stock of the recent developments in this area within the OECD, the EU, the UN and the United States. It addresses the main concerns that have been raised with regard to arbitration, and compares and contrasts the design of various arbitration clauses. It also considers potential future developments. This compendium on international tax arbitration shows one way how to tackle the rising tide of cross-border tax disputes.

Special Tax Zones in the Era of International Tax Coordination This book contains a comprehensive analysis of special tax zones, addressing their issues from the perspectives of comparative, international and European tax law. It is the result of the work of an IBFD research group, involving academics and practitioners from around the world and covering 15 countries from Europe, North and South America, Africa and Asia.Special tax zones may present significantly different features, but all share the element of allowing a preferential tax treatment for pursuing genuine regulatory goals. Based on such narrow understanding of special tax zones, the book argues for their clear separation from BEPS-related practices and supports the view that international tax law should limit external interference in tax policies of the countries promoting special tax zones. After an introduction, which defines the scope of the study and its methodology, the book contains topical studies and country surveys. The final section of the book includes the conclusions and recommendations of the research group.

Taxation of Business Profits in the 21st Century - Selected Issues Under Tax Treaties by Gutiérrez, Carlos The taxation of business profits derived from cross-border activities is one of the core issues in international tax law. The key principle for the allocation of taxing rights between countries is laid down in article 7 of the OECD Model, which states that profits of a resident enterprise of a state shall be taxable only in that state unless the enterprise carries on business in another state through a permanent establishment situated therein. In the latter case, the profits that are attributable to the permanent establishment may be taxed in that other state. The determination of the source state's taxing rights basically requires two steps. First, it must be determined whether or not there is a permanent establishment in that state, as defined by article 5 of the OECD Model, and second, the profits attributable to that permanent establishment must be ascertained. This book sheds light on a selection of issues surrounding the essential questions described above from a practical as well as from an academic perspective. The first part is dedicated to issues relating to the application of article 5 of the OECD Model and the problem of determining the existence of a permanent establishment in a state. The second part of the book relates to issues arising from article 7 of the OECD Model and the attribution of profits to a permanent establishment.

U. S. International Tax System by Holly Lanford (Editor) On July 22, 2014, the Senate Committee on Finance held a public hearing on the taxation of cross-border income. This book, prepared by the staff of the Joint Committee on Taxation for the hearing, includes a description of present law, background on recent global activity related to the taxation of cross-border income, and descriptions and a comparison of recent proposals to reform the U.S. international tax system.

Anti-Bribery Laws in Common Law Jurisdictions by Stuart H. Deming This book provides a comprehensive analysis of the foreign bribery laws, and related laws and regulations, in all of the major common law jurisdictions. For Australia, Canada, Ireland, New Zealand, South Africa, the United Kingdom, and the United States, the critical factors associated with the laws that are applied to bribery in foreign settings are explained and analyzed. Given the extent of their extraterritorial reach, the Foreign Corrupt Practices Act (“FCPA”), the UK Bribery Act, and the official guidance associated with each are extensively addressed along with the related legal obligations related to record-keeping practices and maintaining adequate internal controls and effective compliance programs. Within the same framework, the foreign bribery legislation in the other major common law jurisdictions—Australia, Canada, Ireland, New Zealand, and South Africa—are similarly addressed. For each jurisdiction, careful attention is given to laws that may expose an individual or entity to private or commercial bribery in foreign settings as well as to the application of laws relating to money laundering and accounting and record-keeping practices to situations involving foreign bribery. Throughout, special attention is given to explaining the criteria used in each jurisdiction to establish liability on the part of an entity or organization.

International Arbitration and Corporate Law - An Ohada Practice by Benoit Le Bars This book is an updated edition of Benoit Le Bars'book'Pratique du droit des societs en droit de l'OHADA.'The OHADA treaty (Organisation pour l'Harmonisation en Afrique du Droit des Affaires / Organization for the Harmonization of Business Law in Africa) covers 17 African States - mostly former French colonies from West and Central Africa - that largely followed the French legal model. The book is a welcome addition for non-French speakers interested in arbitration and corporate law in the OHADA countries. It will be of particular interest to readers from the English common law background and those who seek to understand the legal system in the OHADA countries in a more detailed and practical way. It will also appeal to investors, attorneys, and law students interested in the subject.

International Commercial Agreements by Michala Meiselles when planning, negotiating and writing international commercial agreements, it is important to know exactly what essential issues need to be addressed. What considerations do you need to take into account when planning an agreement? What writing techniques will ensure that your contract is suited to your needs? What provisions should you include in such a contract? Michala Meiselles answers these questions in an easy-to-use, clear and concise fashion, combining the most up-to-date material on the subject and an understanding of the learning needs of those approaching this subject for the first time. Whether you're a business manager, lawyer or student, this is your go-to guide to find out drafting commercial agreements.

International Commercial Arbitration by Giuditta Cordero-Moss (Editor) Arbitration clauses in international commercial contracts are often reused from existing contracts. By so doing, the parties choose to apply, for example, either ad hoc or institutional arbitration and the UNCITRAL, ICC, LCIA, SCC, Swiss or other arbitration rules without necessarily being aware of the consequences. Moreover, parties often assume that an arbitration clause has the effect of excluding any kind of interference from a court of law and of rendering any but the chosen law redundant. This book highlights the specific features of various forms of arbitration and enables lawyers to make informed choices when drafting arbitration clauses. Chapters explain the framework for arbitration, its relationship with national law, and the features of the main arbitration institutions in Europe. The book also highlights new trends in other parts of the world that may have repercussions on the theory of international arbitration.

International Human Resource Management and International Labour Law: A Human Resource Management Accounting Approach by Wilhelm Schmeisser The decision to write this book was taken in consideration of an unmet need of non-law students enrolled in undergraduate and postgraduate courses addressing international contracts. In non-law faculties today there are more and more taught-in-English classes that deal with issues in connection with international contracts, and students may face serious difficulties in preparing for exams, mainly because of a lack of suitable handbooks in English taking into account their non-legal background. We have tried to attend to this unmet need by providing those students with a useful tool summarising basic principles applicable to international contracts. In doing so, we have thought it appropriate to try to strike the right balance between general notions (a theoretical approach), on the one hand, and contract templates and sample contractual clauses (business-case approach), on the other, in order to give them a view of how international contract law may affect international business practice. Throughout the process, we have relied on principles and notions resulting from international instruments (such as the Principles on Choice of Law in International Commercial Contracts recently promulgated by the Hague Conference on Private International Law) and on contract templates drafted in private practice or made available to the public by international chambers of commerce or trade centres, which we acknowledge as our sources. Although this book is the result of a shared effort and the outcome of a joint project, chapters 1, 2, 5, 7, 8, 9 and 10 were authored by Vincenzo Salvatore, whilst chapters 3, 4, 6 and 11 were written by Renzo Cavalieri. Each author remains individually responsible for any errors and inaccuracies contained in his respective chapters. We would like to thank Stefania Carrer, Alexia Ruvoletto and Wu Mengzhen for their assistance.

Italian Business Law by Varrasi, Gabriele The idea of translating the book into English came up during the collaboration for the research activity and revising of the Italian book “Impresa e diritto” written by Prof. Dr. Luciano Matteo Quattrocchio and Dr. Bianca Maria Omegna. It's been published by the same publisher as the Italian version. Throughout the course of my professional and academic experiences I had the chance to understand some of the needs related to professionals and foreign scholars, which were not completely satisfied. Having at one's disposal a detailed translated text of the studied topic is certainly a benefit. Not only referred to well known regulations, which have been already widely explained, but mainly to those who have less business appeal caused by our actual country's economic downturn. The English version allows different legal systems to have a better understanding of our business law giving law operators and foreign scholars interesting insights on our legal framework. It's also useful for professionals and Italian scholars who can use the translated content for their work requirements and business research. And at the same time it's valuable for Italian and foreign students who are attending the course in English. The text has been written based on various students'requirements which have emerged during my cooperation at the Advanced corporate Law course at School of Management and Economics-University of Turin. It should be pointed out that the translation of the book is not mere literal. The main intention has been to simplify the Italian business law concepts in order for every nationality to have a better understanding of our legal language and also for better understanding of examples given from experts and teachers of the field. To facilitate the reading of the text a well detailed glossary containing key words has been provided. And next to the cardinal words the Italian translation has been written as well for the purpose of linguistic alignment. Inspired by the Anglo-Saxon custom some locutions and concepts have been abbreviated and shown in detail in the glossary. Also each chapter's main part and key words have been highlighted in bold.

The Oxford Handbook of International Antitrust Economics, Volume 1 by Roger D. Blair (Editor); D. Daniel Sokol (Editor) More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it has a number of different goals. First, it takes stock of the current state of scholarship across a number of different antitrust topics. In doing so, it relies primarily upon the economics scholarship. In some situations, though, there is also coverage of legal scholarship, case law developments, and legal policies. The second goal of the Handbook is to provide some ideas about future directions of antitrust scholarship and policy. Antitrust economics has evolved over the last 60 years. It has both shaped policy and been shaped by policy. The Oxford Handbook of International Antitrust Economics will serve as a policy and research guide of next steps to consider when shaping the future of the field of antitrust.

Sustainability Clauses in International Business Contracts by Katerina Peterkova Mitkidis Sustainable development is a globally recognized goal. However, governments are failing to reach agreement on how this should be achieved. Private actors that are under stakeholders'pressure try to fill this regulatory gap by developing various types of transnational private regulation. However, transnational private regulation suffers from weak legitimacy, questionable effectiveness, and lack of credible enforcement. This book suggests that supply chain contracting may offer an alternative regulation that could lead away from the current regulatory impasse, or at least be one of the missing pieces in the puzzle. Despite the traditionally primary goal of business - to make a profit - companies are, under the imperative of corporate social responsibility (CSR), engaging in activities pursuing public goals in the social and environmental spheres. The book examines one of the tools developed to implement CSR into the business operations: social and environmental clauses in international supply chain contracts ('sustainability contractual clauses,'SCCs). Since there is a lack of literature and regulation on this topic, companies use SCCs without proper knowledge or guidance on why and how this should be done, and on what legal consequences this may have. The book fills this gap by discussing the use of the legal instrument of contract to pursue social and environmental goals; analyzing the legal framework of sustainability contractual clauses; examining what legal effects SCCs may have; and evaluating the contribution of this activity in terms of achieving sustainable development objectives. The aim is to explore both the potential and the limitations of contractual governance in achieving global sustainability and thus contribute to the current discussion on the development of new regulatory and governance designs in this area.

The UN Guiding Principles on Business and Human Rights by Radu Mares (Editor) The issue of corporate responsibilities has had a tumultuous history at the United Nations. When the Human Rights Council unanimously endorsed John Ruggie's Guiding Principles in June 2011, it was the first time that the UN stated authoritatively its expectations in the area of business and human rights. This volume captures this special moment in time: a moment of taking stock of a successfully concluded UN Special Representative mandate (2005–2011) and of preparing for the massive task of following up with more operational guidance, effective governance mechanisms and sound theoretical treatments.