Eucotax Wintercourse 2007 Taxation on global actors

275 Pages·2007·0.94 MB·English

by  Federico Rasi

Luiss
Libera Università
Internazionale
degli Studi Sociali
Guido Carli

CERADI
Centro di ricerca per il diritto d’impresa

Eucotax Wintercourse 2007
Taxation on global actors

Mario Bendoni
Giulia Ceccarani
Roberto Formisani
Giuseppe Labate
Andrea Melchiorri
Fabio Massimo Silvetti

Coordinamento della ricerca: Alessio Persiani e Federico Rasi

Direzione della ricerca: Giuseppe Melis ed Eugenio Ruggiero

[Maggio 2007]

© Luiss Guido Carli. La riproduzione è autorizzata con indicazione della fonte o come altrimenti
specificato. Qualora sia richiesta un’autorizzazione preliminare per la riproduzione o l’impiego di
informazioni testuali e multimediali, tale autorizzazione annulla e sostituisce quella generale di cui sopra,
indicando esplicitamente ogni altra restrizione
Il presente lavoro nasce dallo Eucotax Wintercourse, al quale l’Università Luiss Guido
Carli partecipa sin dal 1995.
Si tratta, in particolare, di un progetto di cooperazione nell’attività di ricerca in
materia di diritto tributario (European Universities COoperating on TAXes), al quale
partecipano, oltre all’Università LUISS Guido Carli, prestigiose università europee ed
americane, tra cui la Georgetown University, la Handelshögskolan i Stockholm, la Katholieke
Universiteit Leuven, la Universitat de Barcelona, la Universität Osnabrück, l’Universiteit van Tilburg,
l’Université Paris 1 Panthéon–Sorbonne, la Queen Mary University of London, la Wirtschaftsuniversität
Wien, la Corvinus University of Budapest.
Ne forma oggetto, con cadenza annuale, un argomento di studio di carattere
generale, che viene suddiviso in sei sub-topics, per ciascuno dei quali viene elaborato un
questionario. Gli studenti delle singole Università rispondono ai questionari dall’angolo
visuale del proprio Stato di appartenenza, per poi confrontarsi nel corso di una settimana di
lavori comuni con i colleghi delle altre Università. Si perviene così ad un documento
conclusivo unitario, nel quale gli studenti evidenziano per ciascun argomento i profili
generali, le risposte normative o giurisprudenziali fornite nei diversi Stati, gli elementi critici
emersi a seguito dell’indagine comparata e le relative proposte di soluzione, anche in vista
di una possibile armonizzazione della disciplina normativa a livello comunitario.
Hanno formato oggetto dell’ultima edizione del Wintercourse – tenutosi presso
l’Università di Tilburg dal 29 marzo al 7 aprile 2007 – i problemi fiscali che un’economia
globalizzata deve affrontare, così articolati:
1. principio di territorialità vs. principio del reddito mondiale;
2. scambio di informazioni e cooperazione in materia fiscale;
3. convenzioni contro la doppia imposizione e tassazione delle imprese
multinazionali;
4. distorsioni alle politiche fiscali: WTO e aiuti di Stato;
5. Organizzazioni no profit;
6. Politiche convenzionali di prevenzione dell’evasione: LOB clauses.
I lavori della delegazione italiana – che in questo documento si presentano – sono
stati redatti, nell’ordine, dagli studenti Giuseppe Labate, Giulia Ceccarani, Fabio Massimo
Silvetti, Roberto Formisani, Mario Bendoni e Andrea Melchiorri.
Il dott. Alessio Persiani ed il dott. Federico Rasi hanno assistito gli studenti nella
preparazione dei lavori e nella successiva discussione presso l’Università di Tilburg
I lavori sono stati diretti dal Prof. Giuseppe Melis e dal Dott. Eugenio Ruggiero.
TERRITORIALITY AND WORLDWIDE TAXATION: EFFICIENCY OF THE
EXISTING MODELS AND COMPATIBILITY WITH INTERNATIONAL
COMMITMENTS...................................................................................11
1 TERRITORIALITY OR WORLDWIDE TAXATION: EFFICIENCY OF THE
EXISTING MODELS............................................................................12
1.1. THE FUNDAMENTAL AIMS OF TAX SYSTEMS.........................................................12
1.2 WORLDWIDE AND TERRITORIALITY: DEFINITIONS...............................................14
1.3. ATTRACTIVENESS AND EFFICIENCY OF THE EXISTING MODELS.........................15
2 DOMESTIC ISSUES...........................................................................17
2.1 TAXATION OF FOREIGN INCOME OF DOMESTIC TAXPAYERS.................................17
2.1.1 THE CRITERION OF RESIDENCE..........................................................................................17
2.1.2 LOCALIZATION OF INCOME.................................................................................................21
2.1.3 THE ITALIAN CREDIT SYSTEM.............................................................................................22
2.2. TAXATION OF DOMESTIC INCOME OF FOREIGN TAXPAYER................................25
2.2.1 THE TAXATION OF FOREIGN TAXPAYERS.........................................................................25
2.2.2.PERMANENT ESTABLISHMENT.............................................................................................28
2.2.3 PASSIVE INCOMES..................................................................................................................32
2.3 GROUP TAXATION.................................................................................................33
2.4 CONTROLLED FOREIGN COMPANIES....................................................................38
3 INTERNATIONAL ISSUES..............................................................42
3.1 COMPATIBILITY OF EXISTING MODELS WITH EC LAW.........................................42
3.2 COMMON CONSOLIDATED CORPORATE TAX BASE...............................................44
3.3.COMPATIBILITY BETWEEN EXEMPTION SYSTEM AND WTO AGREEMENTS........47
BIBLIOGRAPHY...................................................................................49
INTERNATIONAL EXCHANGE OF TAX INFORMATION..........52
1. INTERNATIONAL EXCHANGE OF TAX INFORMATION.......53
1.1 INTRODUCTION.....................................................................................................53
1.2. DIRECTIVE 79/799/EEC.....................................................................................54
1.2.1. THE DIRECTIVE AND ITS IMPLEMENTATION IN ITALY...................................................54
1.2.2. DEFINITION OF INFORMATION AND THE THREE TYPES OF EXCHANGE......................55
1.2.3. DISPUTE ABOUT THE DUTY TO GIVE THE REQUESTED INFORMATION.........................56
1.2.4. COLLABORATION OF OFFICIALS.........................................................................................57
1.2.5. THE SECRECY.........................................................................................................................58
1.3 REGULATION N. 1798/2003/EC............................................................................59
2. PERSONAL DATA PROTECTION IN CASE OF INTERNATIONAL
TRANSFER: ART. 25-26 OF DIRECTIVE 95/46/CEE......................59
3. COMPARISON BETWEEN DIRECTIVE 77/799/EEC AND
“OECD/EUROPE COUNCIL MULTILATERAL CONVENTION ON
MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS” ABOUT
EXCHANGE OF INFORMATION......................................................60
4. PROFESSIONAL SECRECY: EVOLUTION OF THE DISCIPLINE AND
EXCEPTIONS IN THE ITALIAN LEGAL SYSTEM.........................62
5. A FORM OF PROFESSIONAL SECRECY: THE BANKING SECRECY AND
ITS NUMEROUS EXCEPTIONS IN THE ITALIAN LEGAL SYSTEM 63
6. THE LEGAL CONSEQUENCES IN THE ITALIAN LEGAL SYSTEM OF
INFORMATION DISCLOSURE OR BREAKAGE OF SECRECY AND
CONFIDENTIALITY............................................................................65
7. OECD AGREEMENT ON EXCHANGE OF INFORMATION ON TAX
MATTERS: LEGAL NATURE AND INCLUSION IN ART. 10 PAR. 2 OF
DIRECTIVE 48/2003/EC......................................................................67
8. A CHANGE TO ART. 26, PAR. 1 OF OECD MODEL: ITS MEANING 68
9. EXTENSION OF PUBLIC POLICY................................................69
10. FINAL CONCLUSIONS..................................................................70
BIBLIOGRAPHY...................................................................................72
TAX TREATY POLICY IN RESPECT TO MULTINATIONALS.....76
I - DOMESTIC LAW..............................................................................77
RESIDENCE..........................................................................................77
1.1. RESIDENCE OF CORPORATIONS............................................................................77
1.2. HOLDING COMPANIES.........................................................................................78
1.3 PARTNERSHIPS AND TRANSPARENCY ISSUES.........................................................80
1.4 GROUP TAXATION SYSTEM....................................................................................85
2. RELEVANT TAX PROVISIONS FOR MULTINATIONALS........87
2.1 INTRA-GROUP RELATIONS.....................................................................................87
2.1.1. TAX REGIME APPLICABLE TO DIVIDENDS.........................................................................87
2.1.2 TRANSFER PRICING RULES...................................................................................................89
2.1.3 SPECIAL TAX REGIMES FOR HOLDING COMPANIES (REFERENCE)..................................92
2.1.4 GROUP TAXATION REGIME..................................................................................................93
2.2. ANTI-ABUSE PROVISIONS.....................................................................................96
2.2.1. THIN-CAPITALIZATION RULES............................................................................................96
2.2.2 EXIT TAX RULES.....................................................................................................................99
2.2.3 CFC RULES............................................................................................................................100
2.2.4 TAX HAVEN RULES...............................................................................................................103
2.3 RELIEF FROM INTERNATIONAL DOUBLE TAXATION............................................105
2.4 MISCELLANEOUS .................................................................................................107
2.4.1. NOTION OF PERMANENT ESTABLISHMENT....................................................................107
2.4.2. RULING SYSTEM..................................................................................................................109
II DOUBLE TAX TREATIES..............................................................111
1. GENERAL QUESTION....................................................................111
2. PERSONAL SCOPE AND TREATY ENTITLEMENT................111
2.1 PARTNERSHIPS.....................................................................................................111
2.2 GROUPS OF COMPANIES.......................................................................................112
2.3 LIMITATION ON BENEFITS...................................................................................113
2.4 SUBJECT-TO-TAX CLAUSE.....................................................................................114
3. SELECTED DISTRIBUTIVE RULES.............................................115
3.1 INTERNATIONAL GROUP TAXATION: DISTRIBUTION RULE FOR INCOME
ATTRIBUTABLE TO THE PARENT COMPANY...............................................................115
3.2 INFRINGEMENTS OF DTC AND APPLICATION OF DIFFERENT DISTRIBUTION RULES
..................................................................................................................................116
3.3 INCOMES FROM IMMOVABLE PROPERTY..............................................................116
3.4 RULES FOR DETERMINING ARM’S LENGTH PRICES IN RESPECT TO TRANSACTIONS
BETWEEN ASSOCIATED ENTERPRISES........................................................................118
3.5 DIVIDENDS, INTERESTS AND ROYALTIES.............................................................121
3.6 DISTRIBUTIVE RULES FOR EXIT TAXES.................................................................122
4. METHODS TO AVOID DOUBLE TAXATION............................123
5. MISCELLANEOUS PROVISIONS..................................................124
III. EUROPEAN COMMUNITY LAW................................................125
1. PRIMARY EUROPEAN COMMUNITY LAW................................125
1.1. INFLUENCE OF ECJ CASE LAW AND REVISION OF DOMESTIC LAW.......................127
2. SECONDARY COMMUNITY LAW................................................128
3. STATE AID........................................................................................130
4. GENERAL QUESTIONS.................................................................132
BIBLIOGRAPHY..................................................................................133
RELATIONSHIPS AND POSSIBILITIES OF CONFLICTS BETWEEN WTO
LAW, EC LAW AND INTERNATIONAL TAXATION.....................137
1. INTRODUCTION.............................................................................138
2. A BRIEF HISTORICAL OVERVIEW OF INTERNATIONAL TRADE LAW
................................................................................................................138
3. GENERAL ASPECTS OF THE INTERNATIONAL TAXATION139
4. THE RELATIONSHIP BETWEEN WTO LAW AND EC LAW. THE
“DIRECT EFFECT” ISSUE.................................................................140
5. THE MOST FAVOURED NATION (“MFN”) OBLIGATION IN GATT AND
GATS AND ITS INTERRELATIONS WITH TAX TREATIES........143
6. THE NATIONAL TREATMENT (“NT”) OBLIGATION: THE OTHER
“COHABITATION” PROBLEMS.......................................................152
7. SUBSIDIES AND STATE AIDS UNDER THE WTO REGIME AND THE EC
LAW........................................................................................................159
8. CONCLUSIONS................................................................................171
BIBLIOGRAPHY..................................................................................172
NON-PROFIT ORGANIZATIONS AND CHARITIES....................174
1.NON-PROFIT ORGANIZATIONS AND CHARITIES: OVERVIEW174
1.1 DEVELOPMENT OF “THIRD SECTOR” AND LEGAL CONTEXT................................175
1.2 MAIN FEATURES OF ONLUS...............................................................................176
1.3 ONLUS IN TUIR SYSTEM....................................................................................176
2. THE CORPORATE INCOME TAX IN TUIR SYSTEM...............178
2.1 INTRODUCTION...................................................................................................178
2.2 PASSIVE SUBJECTS................................................................................................178
2.3 CRITERIA FOR ESTABLISHING THE NATURE OF COMMERCIAL/NON-COMMERCIAL
INSTITUTIONS...........................................................................................................179
2.4 CRITERIA FOR ESTABLISHING RESIDENCE...........................................................180
2.5 TAXABLE INCOME OF NON-COMMERCIAL INSTITUTIONS....................................181
2.6 NON-COMMERCIAL INSTITUTIONS BASED ON MEMBERSHIP: ECCLESIASTICAL AND
POLITICAL ORGANIZATIONS......................................................................................182
2.7 ONLUS IN TUIR SYSTEM...................................................................................184
3. D.LGS. 460/97: ITALIAN DISCIPLINE OF ONLUS.....................185
3.1 LEGAL FORM AND PROVISIONS OF ONLUS DEED................................................185
3.2 THE PURSUIT OF SOCIAL SOLIDARITY GOALS........................................................186
3.3 EXAMPLES OF INDIRECT DISTRIBUTION OF PROFITS...........................................187
3.4 SPECIAL RULES REGARDING FOUNDATIONS, ECCLESIASTICAL AND POLITICAL
ORGANIZATIONS........................................................................................................188
3.5 ONLUS REGISTRY AND THE OBLIGATION TO KEEP BOOKS.................................188
3.6 CONTROL OF FORMAL AND SUBSTANTIAL NATURE ON ONLUS..........................189
3.7 ASSESSMENT OF TAXABLE INCOME......................................................................191
3.8 VAT TAXATION AND STAMP DUTY EXEMPTION...................................................192
3.9 FACILITATION RULES FOR TRANSFER OF ASSETS AND CARRYING OUT OF SERVICES
TO THE BENEFIT OF ONLUS....................................................................................193
4. NON-COMMERCIAL NON-RESIDENT INSTITUTIONS AND NON-
PROFIT ORGANIZATIONS ACTIVE TRANSNATIONALLY........195
4.1 TAXABLE INCOME OF NON-COMMERCIAL NON-RESIDENT INSTITUTIONS...........195
4.2 NON-PROFIT INSTITUTIONS AND CHARITIES RESIDENT IN ITALY AND ACTIVE
TRANSNATIONALLY...................................................................................................196
4.3 NON-PROFIT NON RESIDENT INSTITUTIONS AND CHARITIES ACTIVE IN ITALY..197
5. STAUFFER CASE AND COMPATIBILITY WITH COMMUNITY LAW 198
5.1 THE FOUR FREEDOMS..........................................................................................198
5.2 STAUFFER CASE: LEGAL CONTEXT, FACTS AND PRELIMINARY RULING.................199
5.3 COMPATIBILITY OF ITALIAN SYSTEM WITH COMMUNITY LAW............................202
5.4 CAN AN EUROPEAN FOUNDATION BE A SOLUTION?...........................................204
6 INHERITANCE AND GIFTS TAX.................................................204
6.1 NORMATIVE EVOLUTION AND LEGAL CONTEXT.................................................204
6.2 THE OBJECT OF TAX AND PASSIVE SUBJECTS.......................................................205
6.3 DETERMINATION OF TAX....................................................................................206
6.4 PROCEDURE FOR THE ENFORCEMENT OF THE TAX DEMAND.............................207
6.5 GIFTS TAX...........................................................................................................208
6.6 NOVELTIES INTRODUCED BY D.L.262/2006 AND BY FINANCIAL LAW FOR 2007..209
7. DISCIPLINE OF TRUST.................................................................211
7.1 CIVIL DISCIPLINE AND CONSTITUTIVE ELEMENTS OF TRUST...............................211
7.2 TRUST’S JURIDICAL SUBJECTIVITY AND FISCAL DISCIPLINE..................................213
7.3 NEW ASPECTS OF THE FINANCIAL LAW FOR 2007.................................................215
7.4 TAXATION ON DESTINATION BOND: AN OPINION OF FINANCIAL ADMINISTRATION
..................................................................................................................................217
8. FAMILY TRUSTS..............................................................................218
8.1 TYPICAL STRUCTURE OF FAMILY TRUST..............................................................218
8.2 THEORIES ON FAMILY TRUST AND TAXATION......................................................218
BIBLIOGRAPHY.................................................................................220
ANTI-AVOIDANCE MEASURES IN DOUBLE TAX CONVENTIONS – LOB
...............................................................................................................222
1 GENERAL CONCEPTS...................................................................223
1.1 CONCEPT OF IMPROPER USE OR ABUSE OF DTCS................................................223
1.1.1 GENERAL..............................................................................................................................223
1.1.2 CONSEQUENCES OF TREATY SHOPPING FOR SOURCE AND RESIDENCE STATES.......225
1.2 TREATY SHOPPING..............................................................................................227
1.2.1 A PARTICULAR TYPE OF CONDUIT COMPANY: RENT-A-STAR COMPANIES...................228
1.3 EXIT TAXES.........................................................................................................230
1.4 TRIANGULAR CASES.............................................................................................232
2 LOB (LIMITATIONS ON BENEFITS) PROVISIONS IN DTCS235
3 OECD POSITION AGAINST TREATY SHOPPING....................243
3.1 BENEFICIAL OWNER...........................................................................................245
4 LOB PROVISIONS: AN EC LAW STANDPOINT.........................250
5 ANTI-ABUSE PROVISIONS IN EC DIRECTIVES.......................256
5.1 DIRECTIVE 90/435/EEC......................................................................................................256
5.2 DIRECTIVE 2003/49/EC.......................................................................................................257
6 ITALIAN NATIONAL ANTI-ABUSE PROVISIONS....................258
6.1 INTRODUCTION.......................................................................................................................259
6.2 DIVIDEND WASHING.............................................................................................................259
6.2.1 The participation exemption regime: a brief analysis of the conditions
provided by letters c) and d) of Article 87 CITA...............................................................264
6.3 THIN CAPITALIZATION...........................................................................................................266
7 CONCLUSIONS.................................................................................271
8 BIBLIOGRAPHY...............................................................................273