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Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Over 140 countries agreed on a fundamental corporate tax reform in 2021 to be implemented in 2023 and beyond. To measure its potential effects, we study asset price changes within minutes of the reform announcements. We construct proxies for the reform's costs regarding U.S. companies' tax burdens and countries' public finances. Likely exposed companies exhibit significant negative stock returns. Our lower-bound estimates indicate total shareholder value losses of $112.6 billion one day after the reform announcements. Further, likely exposed countries experience increases in sovereign debt credit risk. Our findings inform the cost-benefit analysis of a historical international tax reform. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

The academic writing of Professor John Taylor on double tax treaties, particularly his meticulous documenting of the history of Australia's tax treaty network, is well known to international tax scholars. In honour of his contribution to this field of literature, we humbly attempt to contribute to the historical analysis of Australia's tax treaty network by testing and documenting the influence of domestic tax reviews conducted since 1999 on tax treaties negotiated or renegotiated in Australia over the same period. In the last 25 years, three significant reviews have extended recommendations beyond domestic tax reform to propose policy changes to the international tax treaty network. The Review of Business Taxation in 1999, the Board of Taxation's Review of International Taxation Arrangements in 2002-2003, and the Australia's Future Tax System review in 2010 made recommendations specifically relating to the tax treaty network. Between 1999 and 2023, the 25-year period of this study, Australia signed 33 tax treaties and protocols, thereby providing an ideal setting for examining the influence of tax reviews on tax treaty policy. This article examines the recommendations from the three reviews and considers their influence on Australia's tax treaty network. It notes the exemplary work of John Taylor in the analysis of the history of Australia's tax treaty policy and practices and provides a recommended approach to a future review of Australia's tax treaty network, concluding that a comprehensive review is not only warranted but long overdue. [ABSTRACT FROM AUTHOR]

The German Government's growth initiative aims to strengthen immigration into the labour market. In the first three years, 30 %, 20 % and 10 % of the gross income of newly arrived skilled workers will be tax-free. The target group has not yet been precisely defined, but it is likely to be workers with professional and university qualifications under the Residence Act. This Act focuses on the immigration of skilled workers, including the EU Blue Card and the regulations for IT specialists. Under certain conditions, tax rebates can trigger additional migration. However, there are also disadvantageous deadweight and distributional effects. The aim must be to avoid a race to the bottom between international tax rates. [ABSTRACT FROM AUTHOR]

Previous analyses and evaluations of the Deutschland Ticket have generally focused on individual aspects, while an overall and welfare-economic assessment is lacking. On the basis of our own data material, supplemented by new research findings, we attempt to close this gap. The Deutschland Ticket generates benefits that are primarily determined by the consumer surplus and the reduction in external costs of car traffic. The cumulative benefit exceeds the costs of the ticket and generates a net economic benefit of almost two billion euros per year. Against this background, the possibilities for a change in financing are discussed. [ABSTRACT FROM AUTHOR]

Copyright of Investigaciones Regionales is the property of Asociacion Espanola de Ciencia Regional and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper offers a comprehensive analysis of Spain's corporate tax system through the lens of the Laffer curve and Buoyancy index, assessing its efficiency in generating revenue. The study finds that Spain is nearing the Laffer curve's optimal tax rate, beyond which tax revenue may decrease with rate hikes. The Buoyancy index reveals a fluctuating response of tax revenues to economic shifts, indicating vulnerability in economic downturns. We trace Spain's corporate tax evolution, examining current structures and recent policy reforms, and explore how corporate taxation influences economic activities and investment. The paper proposes policy recommendations, including reassessing the corporate tax rate, advocating structural reforms for a wider tax base, and policies promoting economic growth. Emphasis is placed on counter-cyclical fiscal policies, regular evaluation of tax incentives, improving tax compliance, and Spain's role in global tax coordination. This research contributes to fiscal policy discussions, advocating a balanced tax approach for sustainable economic development and guiding policymakers toward resilient fiscal strategies in a dynamic economic environment. [ABSTRACT FROM AUTHOR]

In recent years, human rights scholarship has progressively turned its gaze to the topic of taxation. As a growing body of literature has shown, both the tasks of raising and spending tax revenue may impinge on the realisation of socio-economic rights, a relationship here termed tax and human rights nexus. Notably, however, sovereigns' fiscal powers are, to a large extent, curtailed by the international tax regime. Whereas appeals for a normative alignment between international tax law and human rights are mounting, a closer look at what exactly international human rights frameworks allow with respect to taxation is still largely missing. This article seeks to fill this gap by systematically analysing regional human rights court's jurisprudence on taxation where it intersects socio-economic rights. In doing so, it aims at illuminating the opportunities and challenges for human rights judicial review of international fiscal policies. [ABSTRACT FROM AUTHOR]

The 2017 US tax legislation—widely referred to as the Tax Cut and Jobs Act (TCJA)—fundamentally transformed the US system of international taxation. It ostensibly ended worldwide taxation but introduced, for instance, a new tax on "Global Intangible Low-Taxed Income". This paper surveys the emerging empirical literature on the impact of the TCJA's international provisions. It documents five robust findings in this empirical literature. First, the TCJA led to a general decline in US MNCs' foreign acquisitions. Second, the TCJA increased US MNCs' investment in routine foreign tangible assets. Third, the reform did not lead to any change in profit shifting by US MNCs beyond the magnitude that would be expected based on the TCJA's tax rate reduction. Fourth, The TCJA appears to have reduced the market value of US MNCs relative to domestic US firms. Fifth, the TCJA does not appear to have had any detectable impact on domestic US investment and wages (although there are some contrary results for capital expenditures). The welfare implications of these findings depend crucially on whether US MNCs' are viewed as having engaged in too much or too little foreign activity prior to the TCJA. This depends on the choice of theoretical framework and the relevant normative benchmark, and cannot readily be resolved empirically. [ABSTRACT FROM AUTHOR]

This paper shows that OECD's Pillar Two may increase employment and investment in low-tax countries due to the Substance-based Income Exclusion (SBIE). The SBIE allows to tax-deduct payroll costs and user costs of tangible assets twice from the tax base of the top-up tax owed by subsidiaries in low-tax countries. Consequently, it implies that a 15% minimum corporate tax for low-taxed subsidiaries is not achieved if the SBIE is positive. We show that Pillar Two dampens tax-motivated transfer pricing, but changes the employment, investment and import incentives, and that for a sufficiently large cost share of labor and/or capital, the SBIE is equivalent to a production subsidy. [ABSTRACT FROM AUTHOR]

The article analyses the latest international tax law developments in dispute resolution settlement protocols and the need for effective multilateral solutions to prevent international double taxation. While several treaties currently minimise the risks of international double taxation, more must be achieved to provide judicial remedies in cases where two states want to tax the same income simultaneously. The OECD has developed a dispute resolution system based on arbitration clauses to be introduced in conventions signed by the state and a brand-new MLI (multilateral instrument) that should be applicable on a broader scale. These remedies have proven unsatisfactory as the taxpayer is not entitled to play any role in these (arbitration) procedures and cannot stand personally in front of any panel. The authors argue that such a scenario is inconsistent with the rule of law and the due process clauses and should be amended. Creating a supranational court with the entitlement to adjudicate the power to tax would be the optimal solution, but this would collide with the position of several states and their distrust of the international judiciary in tax matters. [ABSTRACT FROM AUTHOR]

This study examines the impact of corporate taxation on the external balances of 27 European Union member countries from the late 1990s to 2021. Using an ARDL process and a 2-stage least squares estimation procedure, we find that, in the short term, higher corporate taxation is positively and significantly related to the current account balance and the trade balance for the whole sample. There are considerable differences in the effects in the euro area and non-euro countries, with the latter experiencing a much stronger short-term impact. In the long term, there are no critical differences in the results between the two groups, and the impact of corporate taxation is positive but statistically significant only for the trade balance. The size of the impact of corporate taxation on net exports and current account balances is of similar magnitude, which likely implies that the international profit shifting via manipulating intrafirm prices in international trade does not strongly affect the external balances in our sample. Our results imply that initiatives to increase global tax rates could be justified from an international trade perspective. [ABSTRACT FROM AUTHOR]

This article examines the complex relationship between investment visas and tax residency within the context of increasing global mobility. As cross-border investments and the movement of high-net-worth individuals continue to grow, the process of determining tax residency has become more complicated and nuanced. The study investigates how countries use investment visa programs as strategic tools to attract capital, often by offering favorable tax regimes that blur traditional tax jurisdictional boundaries. While these programs are effective in drawing economic resources, they also raise ethical concerns and create opportunities for tax avoidance, thereby challenging the integrity of global tax systems. By analyzing current legal frameworks, the article seeks to clarify the complexities of tax residency in today's world. It addresses the challenges arising from the intersection of investment-driven immigration and tax law, emphasizing the difficulties in establishing clear tax obligations and residency status when individuals and their assets are dispersed across multiple juri sdictions. The ethical issues associated with these investment programs are also scrutinized, particularly the commercialization of citizenship and the risks of facilitating tax evasion. The article calls for a reevaluation of existing tax residency criteria, advocating for updates that reflect the realities of global mobility while ensuring legal certainty and fairness. Ultimately, the conclusions highlight the need for a more cohesive international framework to address the challenges and opportunities arising from the dynamic interplay between investment visas and tax residency. [ABSTRACT FROM AUTHOR]

In international cooperation on taxation, countries strive to achieve equality in international taxation and, thus, create the basis for a fair international tax system. Justice exists in an international system of taxation only when states allocate taxing powers among themselves in a manner consistent with dominant views of justice internationally. A fair international tax system will not exist until there is some international consensus on how countries should allocate axing powers among themselves. International cooperation allows countries to improve the coordination of tax policy at the international level. We can talk about several types of coordination. For example, one type aims to make a country's tax system more similar to others - in other words, to harmonize taxes. Other types aim to establish minimum or maximum tax rates to avoid double taxation of cross-border income streams, prevent transfer pricing, coordinate arrangements with competent authorities and limit harmful tax competition. The current official agreements mean business activities through a permanent establishment and give the source country the primary right to tax profits from this operation. The country of residence is obliged to exempt these profits from tax, at least to the extent that they were taxed by the country of source. A tax treaty also often provides for an exemption from taxation of the employee's income from personal services provided the employee is in the country for no more than a specified period of time and the compensation is received by a non-resident employer without a permanent establishment. The treaty usually reduces or eliminates withholding tax on at least some items of investment-type income, such as interest, dividends, rents and royalties, that are not attributable to business carried on through a permanent establishment. The tax treaty also provides that the country of residence can tax capital gains. [ABSTRACT FROM AUTHOR]

Given the need for the Russian Federation to adapt to sanctions and increase its resilience to new challenges, there is an urgent need to improve tax policy in the sphere of international taxation. This article proposes several conceptual approaches to protecting Russia's tax interests and ensuring its sovereign rights in the international tax sphere. In this regard, the authors conduct an empirical assessment of the consequences for Russia of foreign initiatives to distribute global profits between jurisdictions in the context of the country’s limited participation in traditional information exchange. The assessment addressed the areas of international exchange of tax information and procedures for resolving international tax disputes. The authors suggest measures to counter the erosion of the national tax base in the context of limited cooperation and collaboration in tax administration. Once we have clarified the current multilateral and bilateral international tax treaties with states that have not imposed sanctions on Russia, we will be able to assess the country's attractiveness to investors from these countries and understand the practical implications of the findings.

Existing and universal income tax rules are inherently incompatible with an economy in which information-based transactions play a significant role. This Article contends that income taxation is incapable of taxing information effectively. It goes on to argue that this incapability currently necessitates reform, and it offers three viable paths to such reform: consumption taxation, data taxes, and formulary taxation. The Article concludes that formulary taxation is currently the most desirable and plausible path to effective reform, owing to its promise to best stabilize and maintain the legitimacy of the international tax regime. [ABSTRACT FROM AUTHOR]

The root dilemma that informs the past, present, and future of US international taxation is the tension between two desiderata: protecting the corporate tax base from erosion and ensuring the competitiveness of US multinational firms in the world economy. This article begins by exploring that tension, discussing the evidence behind these competing policy goals. It then considers the international tax provisions of the Tax Cuts and Jobs Act of 2017. TCJA enacted transformative changes in US corporate tax policy, but it did not resolve long held policy concerns. While research on TCJA is in early stages, evidence indicates that TCJA substantially reduced corporate tax revenues, that TCJA's international provisions (as a whole) raised less revenue than expected, that offshoring and profit shifting remain large policy concerns, that changes in US multinational company competitiveness were mixed, and that underlying trends in wages and investment did not change due to TCJA. While TCJA was unable to resolve the tension between competitiveness and tax base protection, the Pillar 2 international tax agreement shows more promise in that regard. As countries throughout the world implement a "country-by-country" minimum tax on multinational income of 15 percent, this has the potential to disrupt long-standing arguments about international corporate taxation. [ABSTRACT FROM AUTHOR]

The document is the front matter of the Journal of Economic Perspectives, a publication of the American Economic Association. It provides information about the editors, associate editors, and advisory board of the journal. It also includes a table of contents for the Summer 2024 issue, which features symposia on the Tax Cuts and Jobs Act of 2017 and expanding the appeal of economics, as well as articles on federal student loans and the economics of extinction. The journal aims to bridge the gap between the general interest business and financial press and standard academic journals of economics. [Extracted from the article]

Konstantin Tsiolkovsky famously stated that while the Earth serves as the birthplace of humanity, it is not a place where mankind can indefinitely remain. Perhaps during that period, the prospect of exploring the mysteries of outer space appeared to be an unattainable aspiration. However, in the present day, there are no longer any limitations, not even the sky, since human ingenuity has facilitated access to outer space for humanity. This access is not just for the purposes of research and exploration but also for economic endeavours. Until now, the commercial utilisation of outer space has advanced at a very sluggish rate. However, firms including SpaceX, Orion Span, Virgin Galactic, and Blue Origin have achieved significant advancements in the growth of the space industry. The revenue generated by various space-related endeavours has experienced a significant 73% increase over the last ten years. The global space economy, estimated to be valued at USD one trillion in the coming years, is primarily driven by commercial activities. This presents a formidable challenge to the existing national and international taxation systems. Similar to the open seas, space is also considered res communis omnium, meaning it belongs to the entire community, and presents comparable taxing challenges with potentially uncertain solutions. The three fundamental elements of every taxation regulation, such as the Organisation for Economic Co-operation and Development or the United Nations Model Double Taxation Convention, are the taxpayer's place of residence, the origin of their income, and the methods by which they generate their money. The current tax system does not have the necessary concepts and provisions to adapt to the rapid advancements in commercial space technology. This paper examines the legal issues surrounding commercial activities conducted in space, including the nature and handling of the income generated in various legal systems. It also addresses concerns such as tax avoidance and excessive taxation, emphasising the necessity for a globally coordinated approach to effectively tax commercial activities in space. • Human ingenuity has facilitated access to outer space for humanity, for the purposes of research and exploration and also for economic endeavours. • Space-related endeavours has experienced a significant 73% increase over the last ten years. • Commercial activities conducted in space require concerted action at international level. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between certain economic and psychological factors and demographic characteristics of Slovene taxpayers, such as gender, income level and size of settlement as it is becoming important for a country's tax compliance framework to align with the tax recommendations of global institutions. The results show some gender differences, with males being less likely to feel guilty or bad if taxes are not paid in full than females, whereas females tend to have the opinion that working for cash-in-hand payment without paying tax is not a trivial offence. Taxpayers with low incomes tend to agree that tax evasion is morally acceptable if tax rates are too high. Taxpayers from rural settlements exhibit a higher tendency to feel morally obligated to pay their taxes than taxpayers from urban settlements. The findings indicate that the vast majority of taxpayers feel morally obligated to pay their taxes. [ABSTRACT FROM AUTHOR]

The current phase of global economic growth is witnessing a convergence of interests among macro-level entities such as home countries, host countries, and third countries, associated with income and profit receipt. Concurrently, meso-level actors have emerged in the form of extensive cross-industry partnerships. Additionally, macro-level entities, such as international organizations, state associations, and supranational bodies, are playing a significant role. Considering that tax policies exert a substantial influence on a nation's economic dynamics, innovative activity, and competitiveness, assessing the impact of tax burden on the degree of economic freedom within countries is significant. This study aims to identify the ideal level of the tax burden, and its results have implications for various aspects of economic development. This research contributes to encouraging economic growth, fostering entrepreneurship and innovation, ensuring social justice, and improving the overall quality of life for the population. The model proposed in this study can be used for determining the ideal level of taxes (tax burden), thus striking a balance between societal and economic needs as well as the effect of taxation on economic freedom in a country. [ABSTRACT FROM AUTHOR]

In this paper, we illustrate the tax attractiveness of EU countries as investment locations over time in terms of effective average tax rates and evaluate potential tax reform options. Our quantitative assessment of recent tax policies suggests that corporate tax rate cuts, notional interest deductions and R&D incentives significantly reduce the effective average tax rate. When government budgets are constrained, however, tax incentives with a direct link to investment activities, such as accelerated depreciation and R&D incentives, are most suitable to stimulate private investment. Even after the introduction of the global minimum tax, these measures remain a viable tool to stimulate investments. [ABSTRACT FROM AUTHOR]

Local government officials are accountable to citizens, who increasingly demand more transparency given the amount of taxes they pay. This paper analyses the relationship between municipal tax revenues and transparency in Spain. Based on a sample of 141 Spanish municipalities with more than 15,000 inhabitants and applying least squares regression and instrumental variable analysis based on two-stage least squares regression, we find that the most transparent municipalities collected more global taxes. Furthermore, more municipal financing through transfers from other levels of government leads to lower taxes on construction and capital gains generated by real estate transfers. [ABSTRACT FROM AUTHOR]

Corporate profit shifting to tax havens negatively impacts corporate tax revenue, particularly in low‐income countries. Two studies published in 2016 and 2018 have proven this correlation using data from 2013. In this paper, I use the 2021 version of the UNU‐WIDER Government Revenue Dataset (GRD) to estimate government revenue losses in 2019 and to observe possible changes associated with the release of the new dataset. My estimations indicate that global tax revenue losses in 2019 are around USD 480 billion if estimated using statutory tax rates, compared to USD 500 billion in 2013. The volume of tax revenue losses in 2019 increases to USD 600 billion if estimated using effective tax rates. In terms of GDP percentage, my estimations confirm the presence of a higher share of losses in low‐income, and more generally, in non‐OECD countries, and they show a higher intensity of tax avoidance practices in those countries. The results also suggest that the total level of tax revenue losses has plateaued, with no increase in losses occurring since 2013 if estimated using statutory tax rates, while an increasing trend is visible for estimates using effective tax rates, although not with the same magnitudes with respect to others recent studies. [ABSTRACT FROM AUTHOR]

Copyright of Critique of Law: Independent Legal Studies / Krytyka Prawa: Niezalezne Studia nad Prawem is the property of Akademia Leona Kozminskiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article develops a new strategy for the (tax) optimization of foreign direct investments in the U.S. This strategy is particularly favorable for natural persons. By using a foreign upstream hybrid partnership, a substantial tax optimization of the current taxation of profits as well as the taxation of capital gains can be achieved. In addition, current and final losses may also be offset cross‐border to a certain extent in the case of an exemption under treaty law. This tax structuring idea is presented by way of example and explained on the basis of the country constellation U.S./Germany. [ABSTRACT FROM AUTHOR]

The aims of this article are two-fold. First to provide a mapping of the regional initiatives and organizations and their link to regional tax cooperation and development. Second, to analyse how the existing regional cooperation initiatives and organizations can help to enhance regional economic development and to strengthen the voices of developing countries in international tax negotiations. This article concludes that the proliferation of memberships and organizations may be an obstacle to achieve regional economic development. Countries may want to participate in several agreements which may have the same or similar objectives, and in some cases, to withdraw from one or another, in order to focus on another agreement. The mapping of regional initiatives shows that more coordination is needed in order to strengthen the role of the regions in global tax negotiations not only at the BEPS Inclusive Framework but also at the United Nations level. [ABSTRACT FROM AUTHOR]

This article argues in favour of Parliament amending the Income Tax Act to provide for a definition of "beneficial ownership" to apply throughout the Act. The proposed definition would be similar to that which Associate Chief Justice Rip (as he then was) proposed in Prévost Car Inc v R. Unlike Rip ACJ's definition, however, the proposed statutory definition would explicitly acknowledge the importance of "control" in defining "beneficial ownership." It would also define control for the purposes of beneficial ownership as a two-limbed test. The first limb would be based on a person's ability to use or apply an asset or income stream. The second limb would be based on a person's legal entitlement to a judicially sanctioned power to exclude the rest of the world from interfering with that person's use or enjoyment of the asset or stream of income. A statutory definition of "beneficial ownership" would promote simplicity and fairness. It would also not harm Canada's competitiveness, even if it meant that Canada's provincial governments needed to create corporate and trust registries to fully avail themselves of the "beneficial ownership" definition. [ABSTRACT FROM AUTHOR]

This article explores from an international law perspective how taxation can be used by states as an instrument to address the mutually reinforcing themes of sustainability and human rights, and to sustain a civilisation. In doing so, the article discusses how far the maximisation of financial resources through a domestic tax system is necessary for the attainment of the United Nations Sustainable Development Goals. It further discusses whether tax avoidance by multinational enterprises is an infringement of the human rights obligations undertaken by states under the International Covenant on Economic, Social and Cultural Rights. [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article is dedicated to comparative and legal analysis of the provisions on mutual agreement procedure in Art. 25 of the Convention between the Government of Ukraine and the Government of Azerbaijan Republic on Avoidance of Double taxation and Prevention of Tax Evasion regarding Taxes on Income and Capital dated 30 July 1999 in the context of recommendations included in Art. 25 of the OECD Model Tax Convention. The latter one is widely recognized source of interpretation of norms of bilateral double taxation treaties in many countries including Ukraine. This analysis, on the one hand, is aimed at finding ways of improvement of normative basis of mutual agreement procedure taking into consideration the risk of high number of tax disputes (for example, the replacement of the term ‘person’ with the term ‘resident’ in the first sentence of Art. 25(1) of the abovementioned Convention creates the risk of ambiguity in the context of personal scope of mutual agreement procedure in case of non-compliance of contracting state with the duties on non-discrimination regime) and, on the other hand, is assisting in the determination of compliance of Art. 25 of the abovementioned Convention with other international commitments of both contracting states (e.g., both contracting states have accepted commitments to introduce three-year minimum term for initiation of mutual agreement procedure by taxpayers according to the framework of the global campaign on counteracting base erosion and profit shifting but Art. 25(1) of the mentioned Convention does not mention such limitation in contrast to the provisions of Art. 25(1) of the OECD Model Tax Convention). Moreover, the author also admits that Art. 25(2) of the bilateral Convention does not include reference to the duty on implementation of mutual agreements concluded between competent authorities under the mutual agreement procedure without the link to the domestic time limits that is also not in accordance of the multilateral commitments. On the basis of this analysis, the author determines the need of amendments of Art. 25(1) and Art. 25(2) of the mentioned Convention that could improve efficiency and effectiveness of mutual agreement procedure as a mechanism of dispute resolution. [ABSTRACT FROM AUTHOR]

We examine the 2014 European Union economic sanctions on exports to Russia and the Russian retaliatory measures on imports from several Western countries. Using the universe of highly disaggregated international trade and taxation data for firms in the Netherlands, we systematically analyze the impact of these economic sanctions on Dutch firms' exports and foreign direct investment. Our analyses account for the product‐specific EU restrictions on arms, equipment used for oil exploration and extraction, and dual‐use products suitable for civilian and military use, as well as the Russian import ban on various primary commodities. Our empirical findings highlight the overall negative impact of sanctions on the intensive margin of exports. However, having a foreign affiliate in Russia helps to mitigate the otherwise negative impact of sanctions on the extensive margin of exports. We also show that exporters do not circumvent sanctions by setting up a local affiliate in Russia. In fact, exposure to Russian countersanctions may even force firms to close their Russian affiliates. [ABSTRACT FROM AUTHOR]

Copyright of Die Unternehmensbesteuerung (Ubg) is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Reducing greenhouse gas emissions from agriculture is crucial to reach global and regional climate targets. However, the efficiency of unilateral climate policies aimed at taxing emissions might be hampered by carbon leakage. One way to eliminate leakage is to implement a global carbon tax. In this article, we study the effects of a carbon tax in agriculture on GHG emissions by simulating five policy scenarios using the CAPRI model; (i) an EU tax, (ii) an EU tax complemented with a border carbon adjustment mechanism (BCA), (iii) a global tax, (iv) a global tax scaled by GDP per capita, and (v) a low global tax at 1/10 of the tax level in the other scenarios. For the global scenarios, we also analyse the impact on food consumption and nutrient intake. We find that a global tax of EUR 120 per ton CO2-eq could reduce global agricultural emissions by 19%, but also jeopardizes food security in some parts of the world. A global tax at 1/10 of that rate (EUR 12) achieves a 3.2% reduction. In contrast, a unilateral EU tax of EUR 120 per ton CO2-eq, accompanied with a BCA, reduces global agricultural emissions by only 0.15%. A unilateral carbon tax in the EU causes significant emission leakage. This result depends strongly on differences in emission intensities between regions and on consumer preferences. A EUR 12 global carbon tax achieves a considerably larger global emission reduction than a EUR 120 unilateral EU carbon tax accompanied with a border carbon adjustment. A global carbon tax differentiated by GDP per capita is less effective than a uniform global carbon tax, as producers with higher emission intensities tend to get lower tax rates. Other ways of taking equity into account should be sought when designing climate policies in the agricultural sector. [ABSTRACT FROM AUTHOR]

The article, titled "Phone A Friend"-Helping Grow the Tax Section's Membership," discusses the benefits of being a member of the ABA Tax Section and encourages readers to share their positive experiences with others to increase membership. The article highlights the various benefits of membership, such as access to high-quality continuing education, networking opportunities, and the chance to contribute to pro bono and diversity initiatives. It also mentions upcoming events and recent achievements of the Tax Section, including successful fundraising campaigns and productive meetings with IRS officials. The article concludes by urging readers to invite others to join and participate in the Tax Section. [Extracted from the article]

The paper addresses the challenges generated by the new layout of the global economy, in general, and in the Central and Eastern Europe, in particular. The recent pandemic, energetic crises and military conflicts emphasize the influence of digitalization on the public law, from the design of the institutional mechanism to the new regulatory perspective of the fiscal treatment for the income generated by individual and natural persons. The particularities of the digital dimension of the global economy have justified the need to use similar/compatible regulation worldwide for almost all the fields of the public law. This tendency is even more dominant for the fiscal law field, a distinctive area of public law and the main tool used by the states to determine the state's annual income. It is expected that all the governments aim at maximizing their revenues, using the constitutional protection for the sovereign right to determine taxes. The result is often inefficient, as the states engage in a tight competition between each other for the larger part of the taxable income. The short-term benefit from such conduct is unbalanced by the mid- and long-term distortion of the economic activities, asking for innovative solutions. The recent developments in international organization negotiation and the domestic perspective on the fiscal regime of the digital income have determined changes in the design of the public law concepts, favoring the mutual agreements on taxation and undermining the role of the national legislations on the topic. The assessment of these recent evolutions in local, regional and international taxation shows important changes in the design of the public law concepts in the digital economy: the imperative to draw multilateral agreements on taxation and the challenges of constitutional law. [ABSTRACT FROM AUTHOR]

Copyright of Revista Técnica Tributaria is the property of Asociacion Espanola de Asesores Fiscales and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Informacion Comercial Espanola Revista de Economia is the property of S.G.E.E.I.P.C., Secretaria de Estado de Comercio, Ministerio de Industria, Comercio y Turismo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The debate regarding the willingness of enterprises to use transfer pricing for tax optimization is one with significant history (the first OECD report on transfer pricing dates from 1979). In the last fifteen years, this topic gained great traction as globalization became a key word in all economic undertakings. In 2013 the OECD/G20 officially launched the BEPS project, aimed at identifying and closing any loopholes present in the taxation system used by companies to optimize their tax burden. The work was finalized in 2015 by issuing the BEPS Package. However, the fight against base erosion and profit shifting did not end, as the OECD/G20 periodically monitors how the measures are implemented. Considering the importance of the IT sector in Romania, it is significant to investigate if the BEPS Package is an efficient tool in helping Romanian tax authorities prevent aggressive tax optimization in this industry. To provide a tentative answer, a statistical analysis was performed, aimed at comparing the profitability of related and non-related Romanian IT companies. Although the BEPS Package is not the only factor influencing the behavior of taxpayers, the work of OECD/G20 is one of the main forces shaping the Romanian taxation environment. Following the analysis, no significant differences were identified between the profitability of related and non-related companies, leading to the conclusion that local taxpayers are not inclined to engage in aggressive tax optimization, which is also a consequence of the way in which the legislation was drafted, influenced by the BEPS Package. [ABSTRACT FROM AUTHOR]

Since the emergence of the digital economy at the turn of the 21st century, multinational companies have exploited the inadequacy of international tax regulations to avoid taxation. So far, states and international organisations have been unable to remedy the situation. In recent years, the former have taken the lead in introducing digital services taxes, allowing them to recoup some of the lost tax revenue, at the cost of unilateralism that is damaging to the international tax environment. Meanwhile, the OECD has put forward a multilateral solution aimed at preventing tax avoidance and ensuring a fair international tax system. This article aims at showing how profound an impact a digitalising economy has had on international taxation and to assess the respective merits and prospects of national as well as international solutions presented. Such an assessment is to be made in terms of both tax certainty as well as compatibility with constitutional and treaty provisions. It concludes that digital services taxes, despite serious shortcomings, have proven a necessary step until a multilateral agreement becomes enforceable. The latter remains nonetheless essential in ensuring multinational enterprises contribute their fair share of taxes. [ABSTRACT FROM AUTHOR]

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