5 Dec 2007

Canones

Definición de Cánones

Por cánones deben entenderse las cantidades de cualquier clase pagadas por el uso o la concesión de uso de un derecho de autor sobre una obra literaria, artística o científica, incluidas las películas cinematográficas, de una patente, marca de fábrica o de comercio, dibujo o modelo, plano o fórmula o procedimiento secreto, así como por el uso o la concesión de uso de un equipo industrial, comercial arrendamiento de negocio) o científico, y por las informaciones relativas a experiencias industriales, comerciales o científicas (know how).

Los Comentarios sobre el Modelo OCDE consideran que las operaciones de software no dan lugar a cánones, sino que deben ser tratados como rentas empresariales.

Determinados servicios de asistencia se incluyen dentro del concepto de canon en algunos Convenios.

Tributación de Cánones

Aunque según el art. 12 del Modelo OCDE sólo pueden ser gravados en el Estado de residencia del beneficiario efectivo, en la práctica la mayoría de los Convenios establecen un sistema de tributación compartida. Por ejemplo, salvo los suscritos con Bulgaria y Hungría, todos los Convenios firmados por España reconocen el derecho de imposición al Estado de la fuente. Y se suele establecer un porcentaje para la imposición en la fuente que debe considerarse máximo, pues la norma interna puede establecer uno inferior que sería el gravamen a aplicar.

Como ocurre con los dividendos y con los intereses, la normativa del Convenio OCDE sobre cánones se aplica con preferencia a las actividades empresariales y a las profesionales. Por ello, los cánones percibidos por una empresa o por un profesional independiente, aun cuando se deriven de su propia actividad empresarial, se sujetan al art. 12.

Una sentencia alemana establecía que el gravamen debería aplicarse sobre el importe bruto, incluyendo el IVA.

25 Nov 2007

Plusvalias internacionales


El art. 13 del Modelo OCDE establece que las ganancias derivadas de la enajenación de bienes se someten sólo a tributación en el Estado de residencia del transmitente. Pero esta regla general quiebra respecto de determinados bienes. La potestad tributaria para gravar las plusvalias depende del bien del que deriven las ganancias.

En el caso de ganancias obtenidas por un residente de un Estado por la enajenación de bienes inmuebles situados en el otro Estado, será este último el que tenga la potestad para gravar la ganancia de capital. Por ejemplo, si un residente en Francia obtiene una ganancia por la venta de un inmueble situado en España, la ganancia se someterá a tributación en España al tipo del 18%, desde 1-1-2007.

Las ganancias derivadas de la enajenación de bienes que no sean inmuebles que formen parte del activo de un E.P. o base fija se someten a gravamen en el Estado donde este ese E.P. o base fija. Sino hay E.P o base fija, se gravarán en el Estado de residencia del transmitente.

Las ganancias por la enajenación de buques o aeronaves sólo se sujetará a tributación en el Estado donde esté situada la sede de dirección efectiva de la empresa.

Y aquí viene la regla general. Las ganancias derivadas de la enajenación de cualquier otra clase de bienes (como acciones, bonos, obligaciones y otros títulos), sólo pueden someterse a imposición en el Estado en que resida el transmitente Por ejemplo, en la venta de acciones de empresa española por residente en Alemania, la plusvalía estará exenta en España. Pero en el caso de algunos Convenios, se ha establecido algunas limitaciones. Por ejemplo, en el Convenio de España con Argentina, Irlanda y México, se establece al menos una participación de al menos el 25% del capital, y en el Convenio con Estados Unidos permite gravar al Estado de residencia de la empresa transmitida si se cumplen ciertos requisitos, incluyendo ese 25% del capital citado antes.

Un tema interesante es distinguir un incremento o disminución de ganancias respecto a los dividendos en el caso de disolución y liquidación de una filial, aunque tengan su origen en beneficio no distribuido. Para el Convenio España/Alemania parece que se trata de una ganancia patrimonial.

24 Nov 2007

Report about paying taxes in the world




Tax reforms that make it easier for firms to pay taxes can increase government revenues by broadening the tax base, says a new report launched today by the World Bank, IFC, and PricewaterhouseCoopers. Paying Taxes 2008, the second report in an annual series on tax systems, covers 178 countries worldwide. The report concludes that there is a win-win opportunity for governments and firms if governments simplify tax systems, ease the compliance cost on business, and reduce tax rates.

This year, 31 economies improved their business tax systems, and 65 have done so over the past three years. Bulgaria was the top reformer, and Turkey was runner-up. While reducing corporate income tax was the most popular reform, implemented in 27 economies worldwide, many countries have reduced the compliance burden by simplifying or eliminating other business taxes. Countries in Eastern Europe and Central Asia had the most reforms in 2006 and 2007, but tax rates remain highest there and in Africa. The compliance burden is highest in Latin America and in Eastern Europe and Central Asia.

“Reducing the tax burden was the second most popular reform of the business regulatory environment this year. Despite previous reluctance to reduce tax burdens for fear of cutting government revenues, some governments that have implemented tax reform have reaped the benefit of higher investment and economic growth,” said Rita Ramalho, coauthor of the report and tax specialist with the World Bank–IFC Doing Business project. “Economies with a lower business tax burden also have more new firms entering the market.”

The case of Egypt is instructive. Two years ago it implemented major tax reforms, which included reducing the corporate income tax rate by almost half. This has increased the government’s tax base and revenues.

This year the top 10 economies for ease of paying taxes are, in order, Maldives, Singapore, Hong Kong (China), United Arab Emirates, Oman, Ireland, Saudi Arabia, Kuwait, New Zealand, and Kiribati. The 10 economies where it is most difficult are, from 169 to 178, Panama, Jamaica, Mauritania, Bolivia, the Gambia, Venezuela, the Central African Republic, the Republic of Congo, Ukraine, and Belarus.

Complying with administrative tax requirements remains a real burden for business. Globally, on average, a company spends almost two months a year complying with tax regulations—15 days for corporate income taxes, 21 for labor taxes and contributions, and 21 for consumption taxes. However, there are wide variations between countries. For example, it takes 105 days to comply with consumption taxes in Azerbaijan but only one day in Switzerland.

The study allows direct comparison of tax systems from around the world. It shows how businesses are affected not only by tax rates, but also by the procedural burden of compliance. The report focuses on the number of tax payments made, the time it takes to comply, and the cost of taxes, which is measured by the total tax rate. The total tax rate covers five types of taxes that firms pay: profit, social, property, turnover, and other taxes, such as municipal fees and fuel taxes. The steps, time, and cost indicators are used to determine the overall ease of paying taxes.

Compliance issues can significantly affect the overall ranking, either counteracting the benefit of a low tax rate or mitigating the impact of a high tax rates. Scandinavian countries, while known for high taxes, do well on the ease of paying taxes because of a low compliance burden.

The report calls on businesses to play a strategic part in reform. Susan Symons, coauthor of Paying Taxes 2008 and tax partner at PricewaterhouseCoopers LLP, said, “Businesses need to be more upfront in revealing their total tax contributions, to help governments assess their real economic footprint. More and better information about the taxes paid and the cost of compliance is essential to understanding how tax systems affect businesses. It is clear that governments need to look across all taxes when considering reform. We hope the new information on the ranking system for ease of paying taxes in this year’s report will help focus public debate on where reform efforts are most effective. Ultimately, this will give business more confidence and willingness to invest.”

The European Union illustrates how widely tax systems vary. Three countries are in the top 15 of ease of paying taxes: Ireland (6), the United Kingdom (12), and Denmark (13). But three others rank in the bottom third globally: Poland (125), Hungary (127), and Romania (134). The overall rankings for the EU on ease of paying taxes are, in order, Ireland, the United Kingdom, Denmark, Luxembourg, Latvia, Estonia, the Netherlands, Sweden, Slovenia, Belgium, Portugal, Germany, Lithuania, Austria, France, Finland, Greece, Bulgaria, Spain, the Czech Republic, Italy, the Slovak Republic, Poland, Hungary, and Romania.

The findings demonstrate that when considering reform, governments need to look at all taxes paid by companies. Corporate income tax is only a part of the story, accounting for only 37 percent of the total tax rate, 26 percent of the number of hours spent on tax compliance, and 12 percent of the number of tax payments. Labor taxes and contributions add significantly to the tax cost in some countries and also to the compliance obligations.

For more information or a copy of the report, please visit: www.doingbusiness.org/taxes

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3 Nov 2007

The Costs of International Tax Cooperation



Tsilly Dagan (Bar-Ilan University) published this 2002 article at Michigan Law and Economics Research Paper No. 02-007; and U of Michigan Law, Public Law Research Paper No. 13

Here is theAbstract:

This Article discusses the three levels of international tax (the unilateral, the bilateral and the multilateral). It describes the seemingly appealing arguments (based on cooperation) advocating neutrality, double taxation prevention, and harmonization. A closer look at these arguments, however, reveals that pursuing these goals often brings about completely different and sometimes undesirable results. While acknowledging the potential benefits of inter-nation cooperation for some, this article highlights the (sometimes hidden) costs of such cooperation for others. Thus, domestic interest groups tend to win or lose from adopting an (elusive) cooperative strategy as the unilateral mechanisms of their countries; developing countries tend systematically to lose tax revenue when they enter into the (more cooperative and thus seemingly benign) bilateral treaty regime; finally, the emerging multilateral regime, promoted as an all-benefiting cooperative strategy, also creates potential losers both among and within nations.

Based on this analysis, the paper argues that cooperation serves as a useful rhetorical tool that supports a certain contingent policy choice, but obscures other, potentially important, considerations and alternatives. Identifying the winners and losers of cooperative policies is necessary in order to evaluate such polices. Cooperation cannot be and is not the ultimate goal in international tax policy.

Available at SSRN: http://ssrn.com/abstract=315373 or DOI: 10.2139/ssrn.315373

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.
The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.
By using this blog site you understand that there is no attorney client relationship between you and the Blog.
The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.
Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.
This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.
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Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors. • We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available. • We will not sell your personal information to anyone, for any purpose. Period. • We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you. • We will notify you of any revisions to our privacy policy, in advance. No surprises. • You have choices about how this Blog uses your information for marketing purposes. Customers are in control.
This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.
Use of Location Information • When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services; • You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;
Online Activity Tracking and Advertising• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files. • We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.
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We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include: • Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address; • Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.
We collect information in 2 primary ways:• You give it to us when you register to provide comments; • We collect it automatically when you visit our Blog.
We use the information we collect in a variety of ways, including to: • Provide you with the best visitor experience possible; • Deliver customized content that may be of interest to you; • Address network integrity and security issues; • Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and • For local directory and directory assistance purposes.
Aggregate or Anonymous Information:
We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as: • Our knowledge, and offer of information that may be of interest to you; • Universities, laboratories and other entities that conduct scientific research; and • Media research companies for general information only.

12 Oct 2007

Intereses internacionales existiendo Convenio




El articulo 11 Modelo OCDE, al igual de lo que sucede con los dividendos y cánones, opta por un criterio de tributación compartida. De esta forma, el Estado de la fuente podrá gravar hasta un 10% sobre el importe bruto de los intereses. El Estado de residencia deberá evitar la doble tributación (mediante un criterio de imputación o exención), reconociendo un crédito fiscal por el impuesto ya pagado.

Por consiguiente, los intereses procedentes de un Estado (España) y pagados a un residente de otro Estado (P. ej. Estados Unidos), tributan normalmente en los dos Estados, aunque en el caso del Estado del que procedan (España) tributan de acuerdo con el tipo limitado previsto en el Convenio, que suele ser el 10%.

Por tanto, cuando un residente de un Estado que tenga suscrito Convenio con España perciba intereses de fuente española, los mismos se someterán a tributación en España al tipo limitado previsto en el Convenio.

No obstante, debe señalarse que en este ámbito la normativa interna española contempla determinadas exenciones, más beneficiosas que lo previsto en los Convenios, que son plenamente aplicables (Deuda Pública, intereses comunitarios…).

También hay Convenios suscritos por España en que se reconoce exclusivamente el derecho de gravamen al Estado de residencia. Es el caso de Irlanda, Hungría o Polonia.

En la doctrina internacional ha llamado la atención aquí las operaciones "back to back". Si para llevarla a cabo se interpone una filial cuyo único objeto es esta operación, según el IRS americano no está amparada por el Convenio, al no disponer del dominio o el control del interés que recibe y transmite a su matriz. Pero la misma IRS reconoció en su momento que, si la filial tiene entidad económica suficiente, al estar adecuadamente capitalizada, y obtiene un beneficio por la operación apropiado, se encontrará amparada por el Convenio.

17 Sept 2007

Residencia fiscal y su acreditación


La mayoria de Estados utilizan la residencia como conexión fiscal predilecta a la hora de determinar la sujeción fiscal de una persona. Pero hay excepciones, como Estados Unidos y Filipinas, en que optan por la nacionalidad, e incluso algunas jurisdicciones otorgan cierta importancia complementaria a factores como el domicilio (caso del Reino Unido).

Pero la residencia es una conexión que no se utiliza de forma preponderante en algunos impuestos, como, a nivel europeo, en el IVA (tiene relevancia la condición de "establecido" en el territorio de aplicación del impuesto) o, en el caso de España, el ITP (el factor relevante es la situación del bien).

Acreditación de no residencia

Aunque en teoría debería ser la administración fiscal la que debería probar la residencia, la condición de no residente se puede acreditar, en la mayoría de países, y es el medio reconocido legalmente, mediante la aportación de un certificado de residencia en otro Estado emitido por las autoridades fiscales de dicho Estado. El plazo de validez de dichos certificados se extiende a un año.

Por supuesto, cabe prueba en contra, pero es dificil, ya que se estaría señalando que el otro Estado se ha equivocado y que, lo que aún és más dificil, que debe renunciar a gravar al contribuyente en favor de otro Estado.


Residencia en dos estados por persona física

En ocasiones, al aplicar las normas internas de España y de otro Estado, una persona es residente en ambos Estados. En estos casos, se deberá acudir al Convenio suscrito por aquéllos, si existe. En estos convenios se establecen normas para evitar que, a efectos fiscales, una persona pueda ser considerada residente en los dos Estados.

Por lo general, según dichas normas será residente:

a) Del Estado donde tenga una vivienda permanente. Si tuviera una vivienda permanente en ambos Estados, será residente de aquél con el que tenga relaciones personales y económicas más estrechas.

b) Si así no pudiera determinarse, será residente del Estado donde viva habitualmente.

c) Si vive habitualmente en ambos o en ninguno, será residente del Estado del que sea nacional.

d) Si es nacional de ambos o de ninguno, las autoridades competentes resolverán el caso de común acuerdo.

Residencia en dos estados por persona jurídica

Los conflictos de residencia en el caso de personas jurídicas se resuelven en favor del Estado en el que radique la sede de dirección efectiva. Y cuando esta sede no se pueda concretar, se atribuirá la residencia, de acuerdo con el art. 4.3 Modelo OCDE, al Estado en el que se constituyó la sociedad.

1 Sept 2007

Fundación Privada de Panama

La ley sobre fundaciones privadas es moderna y flexible; sin embargo, fue inspirada en las fundaciones tradicionales europeas. Los documentos de la fundación consisten en el Acta Fundacional y un documento privado denominado Reglamentos.

El Acta Fundacional, protocolizada mediante Escritura Pública, tiene que ser registrada en el Registro Público, pero los Reglamentos no requieren ser registrados y se mantienen como un documento privado. Es en los Reglamentos donde se incluye la relevante información confidencial, pertinente a los beneficiarios y la forma de distribución. Por tanto, ofrece un excelente vehículo para el anonimato.

La Ley también contiene la opción de designar a un protector y/o auditor u otro organismo supervisor, para vigilar las actuaciones del Consejo de Fundación (el ente Administrativo de la Fundación, que puede ser una persona jurídica o no menos de 3 personas naturales, designadas como presidente, secretario y tesorero). También por Ley, los activos transferidos a la fundación se constituyen en un patrimonio separado de los del fundador o fundadores así como de los de cualquier otra(s) persona(s) o entidad(es) que contribuyan a la fundación; y éstos no podrán ser disputados en asuntos hereditarios, definiéndose de esta manera claramente frente al precepto legal sobre herencias obligatorias, existente en ciertas otras jurisdicciones.

Las fundaciones privadas no tienen el propósito de obtener ganancias. Sin embargo, las mismas pueden mantener actividades mercantiles de manera no habitual o ejercer los derechos derivados de títulos que representan el capital de corporaciones mercantiles que forman el patrimonio de la fundación, con la condición de que los resultados económicos o ganancias de tales actividades sean dedicadas exclusivamente para los propósitos de la Fundación. Las fundaciones no se crean como las corporaciones con el fin de mantener un negocio particular sino que se parecen más bien a sociedades holding.

Incluso si la fundación es creada en un país extranjero, tiene que ser protocolizada por un notario público de la República de Panamá antes de ser inscrita en el Registro Público.

Las Fundaciones operan libre de impuestos, cuando sus ingresos se generan fuera de Panamá. Su domicilio puede ser cambiado en cualquier momento desde ó hacia otra jurisdicción.
Las fundaciones Privadas están exentas de todos los impuestos, de retención y de renta sobre los activos, incluyendo acciones emitidas por las compañías cuyos ingresos no son generados en Panamá o no están sujetos a impuestos en Panamá aunque los valores estén depositados en Panamá. Las exenciones de tributación se extienden a transferencia de propiedad inmueble y de efectivo, certificados y valores asignados al cónyuge del fundador o parientes cercanos.
Este es un instrumento muy útil en la planificación de herencias y para la protección de activos.

En general, las Fundaciones de Interés Privado son usadas por quienes desean controlar y mantener la propiedad de empresas pero no desean ser dueños directos debido a las normas sobre Transparencia Fiscal Internacional o a las reglas de Control de Corporación Extranjera (“CFC”) en sus países de residencia. Muchos países de impuestos altos, tales como Inglaterra, Canadá, EE.UU., Australia, Nueva Zelanda, Francia, Italia, España, etc., tienen este tipo de normas, que, entre otras consecuencias, requieren que sus ciudadanos declaren que ellos son accionistas de tales corporaciones extranjeras.

En vez de tener las acciones de la corporación a favor de sus nombres personales o al portador, ellos establecen una Fundación de Interés Privado que mantenga o sea dueña de las acciones de su(s) corporación(es) extranjera(s), evitando así declarar según las normas citadas. Por lo tanto, la ventaja de usar una Fundación como accionista de la sociedad es que ésta no tendrá exactamente dueños finales, sino más bien beneficiarios privados nombrados anónimamente.

Otra ventaja en utilizar la Fundación como accionista es cuando, al abrirse cuentas bancarias corporativas o de inversión, las instituciones financieras, no se desea revelar al beneficiario final de la corporación, aunque no siempre esto es posible.

La Fundación Panameña provee ventajas adicionales además de las de propiedad. Por ejemplo, la Fundación Panameña puede ser útil como vehículos para transferir fondos “offshore” o recibirlos de “offshore”. Algunas personas donan sus fondos a sus Fundaciones Panameñas y después usan la Fundación para dar otorgar becas educacionales o especiales a sus hijos, nietos o cualquiera otro que escojan, evitando las regulaciones fiscales sobre las donaciones.

En general, las Fundaciones de Interés Privado no suelen involucrarse en actividades comerciales. Sin embargo, pueden llevar a cabo actividades bancarias o de inversión, como invertir en depósitos a plazo fijo bancarios, valores, bonos, fondos mutuos, opciones, etc., siempre y cuando los productos de esas actividades de inversión sean para el beneficio del beneficiario de la Fundación.

28 Aug 2007

Uncertain Taxes in China

There is a very interesting article entitled "China's Uncertain Tax Positions" posted by chinalawblog.com:

"Donald Compton of Pricewaterhouse Coopers LLP just had published a nice introduction to some of the tax issues likely to confront multinational companies doing business in China. The article is entitled, "China: Determining Uncertain Tax Positions In China," [free subscription may be required] and its focus is on what such companies need to do to comply with Financial Accounting Standards Board Interpretation No. 48.

The introduction to the article nicely summarizes the article itself:
By now many multinational companies have begun the process of addressing how Financial Accounting Standards Board Interpretation No. 48 ("FIN 48") will apply to their global business. The challenge in understanding the FIN 48 implications for tax planning and local country compliance issues in foreign jurisdictions will be significant. FIN 48 requires companies to ascertain, evaluate, and conclude on discrete tax risks. Companies must not only account for the interest and penalties on these conclusions, but must also adhere to a new disclosure regime.

Companies may not have the wherewithal to fully appreciate the implications of their tax posture due to many factors, including lack of knowledge, time constraints, resource constraints, quality of the past compliance filings, and insufficient mechanisms to gather data. Many issues, including documentation, transfer pricing, arbitrary enforcement and inconsistent interpretation by regulators, are common in many jurisdictions, although each jurisdiction may have its own particular twist.

For companies operating in China, the tax planning environment creates another level of complex Uncertain Tax Positions ("UTPs") analysis. This complexity arises because many companies have negotiated at the provincial and local levels to reduce the national statutory rate, plus there are numerous local incentive regimes. This article provides the author's perspective on UTPs in China and suggests some areas that companies currently or potentially operating in China should consider."

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
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• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

More information:

http://internationaltaxchina.blogspot.com
http://www.jpa-iac.com/en/
http://www.braxton-co.com/en/
http://www.tax-international.com
http://www.braxton-group.com

7 Jul 2007

Tax and Development in Sub-Saharan Africa

Christians, Allison. "Tax and Development in Sub-Saharan Africa" Paper presented at the annual meeting of the The Law and Society Association,

Here is the Abstract:

In the name of increasing trade and investment to developing countries, particularly in Sub-Saharan Africa, various international organizations have advocated a number of diverse tax reforms. Trade and investment-oriented organizations (such as the WTO and the OECD) focus on eliminating tariffs to reduce the drag on cross-border trade and decreasing income taxes to reduce the drag on cross-border investment. On the other hand, international lending organizations (such as the IMF and the World Bank) focus on introducing national sales or consumption taxes to support government’s fiscal requirements as the other forms of taxation decline. This research asks whether these diverse tax reform proposals, when implemented simultaneously, have the desired effect: do they increase trade and investment while adequately supporting government functions?

The research will focus on a group of countries in Sub-Saharan Africa. Sub-Saharan Africa is the geographic area of focus not only because it is a region that is associated with extreme poverty-related conditions and persistently low levels of foreign trade and investment, but also because the United States (a leading member of all of the international organizations discussed above) has consistently proclaimed its commitment to increasing opportunities for economic growth in these countries through the elimination of trade and investment barriers. With economic growth the driving force of the various tax reforms, this research examines whether the United States and the international organizations have enabled or can enable the subject countries to experience gains in the global economy while simultaneously supporting their own fiscal infrastructures.

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

More information:

http://www.jpa-iac.com/en/
http://www.braxton-co.com/en/
http://www.tax-international.com/
http://www.braxton-group.com/

1 Jul 2007

Harnessing the Costs of International Tax Arbitrage

Professor Adam H. Rosenzweig (from Washington University) has postes Harnessing the Costs of International Tax Arbitrage, 26 Va. Tax Rev. 555 (2007). Here is the abstract:


The issue of international tax arbitrage has proven a difficult and intractable one. Rather than try to minimize costs of the arbitrage or prevent “abuse” of the laws of a particular regime, the United States should also consider affirmatively bearing some of the costs of the international tax arbitrage transaction to further the policy of international vertical equity and shift the incentives in the worldwide regime that led to the rise of the arbitrage in the first place.

Harnessing the costs of international tax arbitrage transactions will not always be the appropriate response to each particular arbitrage transaction. Depending on the circumstances, the traditional responses may be sufficient, a fundamental change to the underlying United States domestic tax law may be appropriate or a worldwide consensus on harmonization in a particular area may arise. Harnessing the costs of the international tax arbitrage should be considered, however, when such responses prove inadequate. At a minimum, in adopting such an approach the United States would provide some level of subsidy for investment in developing countries at little to no cost to the current international tax regime. At best, however, harnessing the costs of international tax arbitrage could place of the issue of international tax arbitrage back on the international scene, restart stalled international tax discussions and potentially move towards a greater worldwide consensus, not only on the international tax arbitrage itself but on the larger issue of the role of international vertical equity in the worldwide tax regime. In a second-best world, United States unilateral action in harnessing the costs of international tax arbitrage may be the first step towards a first-best solution.



This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

More information:

http://www.jpa-iac.com/en/
http://www.braxton-co.com/en/
http://www.tax-international.com
http://www.braxton-group.com

9 Jun 2007

IBM under the wire tax break



Big Blue’s Under-the-Wire Tax Break
Posted by Peter Lattman, from http://blogs.wsj.com/


It looks like IBM’s tax lawyers are earning their keep. Just two days after they used a complex corporate tax loophole to save an estimated $1.6 billion, the IRS moved to close the loophole down. Here are stories from the WSJ and NYT.



On May 29, IBM said it had structured a $12.5 billion stock repurchase to take advantage of overseas earnings without making them subject to stiff U.S. corporate tax rates. Because they’re designed to make an end around IRS section 367(B) covering U.S. taxes on repatriated earnings, tax lawyers call these deals “Killer B” transactions.


Two days later, the IRS announced plans to issue regulations making companies pay U.S. taxes when they buy back their stock, even if the shares are purchased by an international subsidiary. It said the planned ban on the practice would take effect that day.


Stewart Lipeles, a tax attorney with Baker & McKenzie, told the WSJ it looked like the IRS rushed out a notice after it caught wind of IBM’s “Killer B.” The IRS won’t say.


This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

21 Apr 2007

Intercompany Loans and Profit Shifting

Intercompany Loans and Profit Shifting – Evidence from Company-Level Data
Thiess Buettner (Ifo Institute for Economic Research and CESifo) and Georg Wamser (Ifo Institute for Economic Research) published this paper on March 2007 at CESifo Working Paper Series No. 1959.

Here is the Abstract:

This paper is concerned with tax-planning strategies of multinational corporations. A theoretical analysis discusses the choice of the capital structure in a setting where intercompany loans can be used to shift profits to low-tax countries. Empirical evidence is provided using micro-level panel data of virtually all German multinationals made available by the Bundesbank. This comprehensive dataset allows us to exploit differences in taxing conditions of almost eighty countries during a period of nine years.

The empirical results confirm a robust impact of tax-rate differences within the multinational group on the use of intercompany loans, supporting the profit-shifting hypothesis. However, the implied tax-revenue effects are rather small, suggesting that costs related to adjusting the capital structure for profit-shifting purposes are substantial.

Available at SSRN: http://ssrn.com/abstract=981120

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.

More information:

http://www.jpa-iac.com/en/
http://www.braxton-co.com/en/
http://www.tax-international.com
http://www.braxton-group.com

20 Apr 2007

Which Countries Become Tax Havens?

Which Countries Become Tax Havens?
Dhammika Dharmapala (University of Connecticut) and James R. Hines Jr. (University of Michigan) published this paper for the National Bureau of Economic Research (NBER) in December 2006.

Here is the Abstract:

This paper analyzes the factors influencing whether countries become tax havens. Roughly 15 percent of countries are tax havens; as has been widely observed, these countries tend to be small and affluent. This paper documents another robust empirical regularity: better-governed countries are much more likely than others to become tax havens. Using a variety of empirical approaches, and controlling for other relevant factors, governance quality has a statistically significant and quantitatively large impact on the probability of being a tax haven. For a typical country with a population under one million, the likelihood of a becoming a tax haven rises from 24 percent to 63 percent as governance quality improves from the level of Brazil to that of Portugal.

The effect of governance on tax haven status persists when the origin of a country's legal system is used as an instrument for its quality of its governance. Low tax rates offer much more powerful inducements to foreign investment in well-governed countries than elsewhere, which may explain why poorly governed countries do not generally attempt to become tax havens - and suggests that the range of sensible tax policy options is constrained by the quality of governance.

Available at SSRN: http://ssrn.com/abstract=952721

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
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16 Apr 2007

Mason on Tax Discrimination in the EU

Proffessor Ruth Mason (UConn) has published an interesting report entitled In Search of Internal Consistency: Tax Discrimination in the EU, 46 Colum. J. Trans. L ___ (2007), on SSRN. Here is the abstract:


The European Union was created to bind the countries of Europe together economically to prevent future wars. Rigorous enforcement of EU nationals' fundamental economic freedoms before the European Court of Justice (ECJ) has furthered economic integration. The fundamental freedoms prohibit tax discrimination—harsher tax treatment of cross-border economic activities than purely internal activities. Critics of the ECJ argue that the Court's broad interpretation of the EC freedoms causes it to find tax discrimination where there is none. This tendency encroaches upon the sovereignty of EU member states and hampers their ability to pursue economic policy goals. In contrast, based upon a survey of all the ECJ's tax discrimination decisions, this Article offers a more nuanced critique that shows the ECJ's errors in tax discrimination cases go in both directions. In addition to finding discrimination where there is none, the Court also sometimes fails to recognize discrimination. The Court's failure to recognize tax discrimination undermines the economic integration of Europe and abridges EU nationals' personal rights.

This Article is the first to identify the Court's method of review in tax discrimination cases, the comparable internal situation test (CIST), as a principal contributor to the Court's difficulty in tax cases. Instead of CIST, the Article proposes that the ECJ borrow a method developed by the U.S. Supreme Court for tax cases arising under the Commerce Clause: the internal consistency test (ICT). Adoption of this simpler method should enable the ECJ to make more coherent tax decisions, which will promote economic efficiency and integration of the European common market.



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15 Apr 2007

Lecture on VAT in the European Union

Here are the lecture by Prof. Dr. Michael Tumpel, made April 11, 2007.

Listen to Prof. Tumpel's Lecture:

Introduction:
Download the MP3

Lecture:
Download the MP3

Q & A:
Download the MP3

This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.
The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.
By using this blog site you understand that there is no attorney client relationship between you and the Blog.
The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.
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This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.
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Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors. • We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available. • We will not sell your personal information to anyone, for any purpose. Period. • We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you. • We will notify you of any revisions to our privacy policy, in advance. No surprises. • You have choices about how this Blog uses your information for marketing purposes. Customers are in control.
This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.
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More information:
http://www.tax-international.com

5 Apr 2007

In Praise of Tax Havens: International Tax Planning and Foreign Direct Investment

In Praise of Tax Havens: International Tax Planning and Foreign Direct Investment
Qing Hong (University of Toronto) and Michael Smart (University of Toronto) published this paper for the CESifo (Center for Economic Studies and Ifo Institute for Economic Research)CESifo Working Paper Series No. 1942

Here is the Abstract:

The multinationalization of corporate investment in recent years has given rise to a number of international tax avoidance schemes that may be eroding tax revenues in industrialized countries, but which may also reduce tax burdens on mobile capital and so facilitate investment. Both the welfare effects of and the optimal response to international tax planning are therefore ambiguous.

Evaluating these factors in a simple general equilibrium model, we find that citizens of high-tax countries benefit from (some) tax planning. Paradoxically, if tax rates are not too high, an increase in tax planning activity causes a rise in optimal corporate tax rates, and a decline in multinational investment. Thus fears of a "race to the bottom" in corporate tax rates may be misplaced.


Available at SSRN: http://ssrn.com/abstract=976577



This Blog/Web Site ("Blog") does not to provide specific legal advice, it is for educational purposes only. This Blog is made available by the international adviser, lawyer or law firm for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice.

The Blog does not constitute legal advice and is not a substitute for competent legal advice from a licensed attorney in your state. Any comment posted on the Blog can be read by any Blog visitor; do not post confidential or sensitive information. Any links from another site to the Blog are beyond the control of us.

By using this blog site you understand that there is no attorney client relationship between you and the Blog.

The Blog should not be used as a substitute for competent legal advice from a licensed professional adviser or lawyer in your country.

Our firm and do not convey their approval, support or any relationship to any site or organization. The use of this Blog does not implicitly or explicitly convey any warranties or representations as to the accuracy of the information contained herein.

This Blog has created this privacy statement in order to demonstrate our firm commitment to privacy. The following discloses the information gathering and dissemination practices for this Blog.

This Blog takes your privacy very seriously. Our customers told us they want to see clear, easy-to-read information about our privacy commitments and policies. We have made our privacy policies easier to find and easier to read. And we're listening. We welcome your questions and feedback on our privacy policies, and invite you to contact us with your thoughts.

Customer Privacy Controls and Choices:
• You can review and correct your Personal Information collected by us.
• You can limit certain types of solicitation communications from AT&T, including marketing contacts made via telephone, e-mail and text messaging.
• We will provide you with notice of changes to this policy.

Our privacy commitments are fundamental to the way we do business every day. These apply to everyone who has a relationship with this Blog and visitors.
• We will protect your privacy and keep your personal information safe. We use powerful encryption and other security safeguards to protect customer data, when available.
• We will not sell your personal information to anyone, for any purpose. Period.
• We will fully disclose our privacy policies in plain language, and make our policies easily accessible to you.
• We will notify you of any revisions to our privacy policy, in advance. No surprises.
• You have choices about how this Blog uses your information for marketing purposes. Customers are in control.


This Privacy Policy identifies and describes the way This Blog uses and protects the information we collect about visitors. All use of this Blog is subject to this Privacy Policy.

Use of Location Information
• When your wireless device is on, it sends periodic signals to the nearest cell site. We use that information to provide your wireless services;
• You can use your wireless device to obtain a wide array of services based on the approximate location of the device, referred to as Location Based Services, or LBS. The information you receive in connection with your use of LBS may include advertisements related to your request and your location;

Online Activity Tracking and Advertising
• We collect information about your activity on this Blog for a number of purposes using technologies such as cookies, Web beacons, widgets and server log files.
• We and our advertising partners use that information, as well as other information they have or we may have, to help tailor the ads you see on our sites and to help make decisions about ads you see on other sites.

The Information We Collect, How We Collect It, And How We Use It

We collect different types of personal and other information based on your use of our products and services and our business relationship with you. Some examples include:
• Contact Information that allows us to communicate with you -- including your name, address, telephone number, and e-mail address;
• Equipment, Performance, Site Usage, Viewing and other Technical Information about your use of our network, services, products or Web sites.

We collect information in 2 primary ways:
• You give it to us when you register to provide comments;
• We collect it automatically when you visit our Blog.

We use the information we collect in a variety of ways, including to:
• Provide you with the best visitor experience possible;
• Deliver customized content that may be of interest to you;
• Address network integrity and security issues;
• Investigate, prevent or take action regarding illegal activities, violations of our Terms of Service or Acceptable Use Policies; and
• For local directory and directory assistance purposes.

Aggregate or Anonymous Information:

We may share aggregate or anonymous information in various formats with trusted entities’ only for purposes such as:
• Our knowledge, and offer of information that may be of interest to you;
• Universities, laboratories and other entities that conduct scientific research; and
• Media research companies for general information only.