European Union Corporate Tax Law

Panayi, Christiana Hji

doi:10.1017/9781108979528

Cited by 4 publications

(4 citation statements)

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“…At the European level, Panayi (2021) states that despite the efforts made to define tax competition harmonization and coordination measures, the European Union experience has taught how difficult it is to achieve a set of general tax rules that can effectively prevent harmful tax competition and that are reasonably accepted by Member States. It is in this line that Devereux (2006) argues that the absence of international tax legislation favours the idea that one of the main factors of competitiveness and attraction of investment (Mitschke, 2008), companies (Schrenk, Zeile, Popovich, & Elisei, 2012) and people (Florida, 2007) are the tax conditions offered by each of the municipalities (Zhang, 2011).…”

Section: Theoretical Referentialmentioning

confidence: 99%

Determinants of municipal tax rates: empirical evidence in the portuguese context

Soares¹,

Reis²,

Catarino³

2023

R. G. Secr.

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The municipality is the circumscription of the territory in which citizens, associated by common relations (locality, work and traditions) live under an autonomous organisation, for economic, administrative and cultural purposes. The powers to define the tax burden in each municipality raise the question of municipal competitiveness. This study aims to analyse the determinants of municipalities' tax policy options, at the level of municipal tax attractiveness. Presently, the attribution of tax powers has extended to the sphere of local power, where municipalities can decide, in relation to their taxes, to grant tax benefits and reduce the municipal tax burden, that is, tax policy has become a general policy instrument of local authorities. In this context, supported by an international dogma favourable to the increasing attribution of administrative and financial autonomy, the fiscal competence of Portuguese municipalities has been extended. In this exploratory study, we analysed the impact of the municipal competence of annual differentiation of the tax burden as a way to observe the ability of local actors to increase municipal competitiveness and local development.

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Section: Theoretical Referentialmentioning

confidence: 99%

Determinants of municipal tax rates: empirical evidence in the portuguese context

Soares¹,

Reis²,

Catarino³

2023

R. G. Secr.

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“…Corporate tax lawyers coined the term 'jurisdictional arbitrage' to describe such complex schemes (Fleischer, 2010;Jan and Matthias, 2021;Marian, 2013;Panayi, 2013). Jurisdictional arbitrage tends to operate through structures designed to take advantage of 'a gap between the economics of a deal and its regulatory treatment, restructuring the deal to reduce or avoid regulatory costs without unduly altering the underlying economics of the deal' (Fleischer, 2010: 227).…”

Section: Ofcs Corporate Tax Planning and Jurisdictional Arbitragementioning

confidence: 99%

Arbitrage spaces in the offshore world: Layering, ‘fuses’ and partitioning of the legal structure of modern firms

2021

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In this article, we discuss the way offshore financial centres are used by the multi-subsidiary, multi-jurisdictional group structure known as the ‘multinational enterprise’ to arbitrage between social geographies of political jurisdictions. We define arbitrage as the use of corporate legal entities located in diverse jurisdictions to arbitrate a third country's rules and regulations. Using a new method to categorize firm-level data from Van Dijk’s Orbis, we operationalize the notion of arbitrage to systematically detail and compare the structural sequencing choices firms are making, likely in part for reasons of arbitrage. We base our techniques on legal theory of the firm, acknowledging the underpinning of social technologies of law and accounting by which business enterprises are constructed and maintained. We conclude that two specific types of entities, ‘standalones’ versus ‘in-betweeners’, are qualitatively different from others in the activities they perform. We also highlight the existence of liability structures, or ‘fuses’, which typically take the form of a split ownership arrangement. Ultimately, we demonstrate that the position of a firm’s subsidiary within the overall network ecology of that firm is as important as its jurisdictional registration location.

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“…A comparable strategy has not yet been found or developed in the literature (see in detail 1.2). Consequently, there is also no literature on the possibility of using cross‐border reorganizations or mergers as a strategy for a tax‐optimized repatriation of profits from foreign subsidiaries (Finnerty, 2007; Endres & Spengel, 2015; Kraft/Edelmann 2019; Panayi 2021; Schmitt, 2020).…”

Section: Introductionmentioning

confidence: 99%

“…Since the questions to be investigated are legally based, the methodological approach and mix of methods used here is suitable and appropriate. The cross‐border merger as a possibility for tax‐optimized profit repatriation of dividends has not been discussed in the scientific literature so far (Finnerty 2007; Endres & Spengel, 2015; Kraft/Edelmann 2019; Panayi 2021; Schmitt, 2020).…”

Section: Introductionmentioning

confidence: 99%

International taxation and the potential of cross‐border mergers for optimal profit repatriation

Kollruss

2022

J Corp Accounting Finance

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The article aims to investigate the use of cross-border mergers in worldwide constellations as a strategy for receiving tax-optimized profit repatriation from foreign subsidiaries. The study is carried out on the basis of an exemplary case study of a cross-border merger. Moreover, theoretical, analytical, and conceptual research methods used. The findings and implications are of general interest, since a cross-border merger is in principle possible worldwide and not only in certain country constellations. Generally, the results of the study apply to any cross-border merger, for example, also to a merger of any EU corporation into a foreign parent company irrespective of its residence. The results show that multinational firms can use cross-border mergers as a stable strategy to obtain tax-optimized profit repatriation from foreign subsidiaries and to optimize the group tax rate. This general strategy worked out in the article solves an essential and widespread problem for investments in foreign subsidiaries, namely how to repatriate the retained profits of foreign subsidiaries without triggering an excessive tax burden. A comparable strategy has not yet been found or developed in the literature. Consequently, there is no literature on the possibility of using cross-border reorganizations as a strategy for a tax-optimized repatriation of profits.

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European Union Corporate Tax Law

Cited by 4 publications

References 0 publications

Determinants of municipal tax rates: empirical evidence in the portuguese context

Determinants of municipal tax rates: empirical evidence in the portuguese context

Arbitrage spaces in the offshore world: Layering, ‘fuses’ and partitioning of the legal structure of modern firms

International taxation and the potential of cross‐border mergers for optimal profit repatriation

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