EUROPEAN TAX LAW

Fifth Edition

Abridged Student Edition

Ben J.M. TerraPeter J. Wattel

KLUWER LAWINTERNATIONAL

CONTENTS

Preface / V

Tableofchapters/VII

Contents / IX

List of Abbreviations / XXI

Part A General

Chapter 11ntroduction /1

Chapter 2 Taxes in the EC Treaty; Integration Bases / 5

2.1 Introduction; EC Customs Union / 52.2 Harmonization of (Other) Indirect Taxes (Art. 93) / 62.3 Prohibition of Discriminatory and Protective Product Taxation (Art. 90)

and Import Restrictions (Art. 28) / 72.4 Remaining Tax Provisions / 92.5 Absence of Direct-Tax Harmonization Provisions; Unanimity

Requirement for Direct and Indirect Taxes /102.6 Prohibition of State Aid (Art. 87) /112.7 Elimination of Distortions (Art. 96) /122.8 Article 58 of the EC Treaty: 'Taxpayers Who Are Not in the Same

Position'/122.9 A Revision Treaty rather than a Constitution for Europe /14

Chapter 3 General EC Law Concepts and Tax Law /17

3.1 Introduction /173.1.1 A Common Market /173.1.2 Interaction Between Positive and Negative Integration; Direct and

Indirect Taxes; Limits to the ECJ's Possibilities /173.1.3 Access to the Treaty Freedoms; Standing; Abuse of the Freedoms / 203.1.3.1 The Capacity Required for Reliance on EC Treaty Freedoms / 20

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3.1.3.2 Case Law Before and After Entry into Force of the Right of Residence / 213.1.3.3 Treaty Access in Direct Tax Cases: Asscher, Cilfy, Pusa and

N. v lnspecteur / 223.1.3.4 Abuse Doesnot Cancel Treaty Access but May Justify a Restriction / 263.1.4 Observation of 'the Law'; General Principles of Community Law / 273.2 The Four Freedoms / 283.2.1 Nondiscrimination Approach and Non-ObstacleApproach; Market Access

and Market Equality; The Rule of Reason / 283.2.1.1 Discriminations and Obstacles / 283.2.1.2 Permissible Obstacles to Free Trade; The Rule of Reason / 303.2.2 Accepted Justifications for (Fiscal) Market Obstacles / 323.2.3 Free Circulation of Goods and Direct Taxes; the French Newspapers and

Krantz Cases / 353.2.4 The Freedom to Provide (and Purchase) Services / 353.2.5 The Free Movement of Persons and the Right of Residence / 363.2.6 Freedom of Capital and Payments (Extending to Third States) / 393.2.6.1 General / 393.2.6.2 Third State Capital Movement / 403.2.7 Direct and Indirect Discrimination, Restrictions, Disparities and

Dislocations; Convergence of Fundamental Freedoms / 433.3 Normal Conditions of Competition (a 'Level Playing Field') / 523.4 Community Loyalty / 533.5 Effectiveness of EC Law. Direct Effect, Primacy, Consistent Interpretation;

State Liability; National Time Limits; the Procedural Rule of Reason / 553.5.1 Direct Effect and Primacy of EC Law; Horizontal Effect; Consistent

Interpretation / 563.5.2 Enforcement of EC Law: the Principles of Effectiveness and Equivalence;

the Procedural Rule of Reason / 583.5.2.1 National Procedural Autonomy and its Limitations / 583.5.2.2 Restrictions on Restitution of Overpaid Tax; the Procedural Rule of

Reason / 603.5.2.3 Costs of Legal Counsel / 623.5.2.4 Application of EC Law Ex Officiol Effective Access to Legal Remedy / 623.5.3 National Time-Limits / 633.5.3.1 Introduction; Equivalence and Effectiveness / 633.5.3.2 Forum Shopping; Is Filing a Tax Return Which Will Not Be Accepted

'Excessively Difficulf? Metallgesellschaft and Thin Cap GW / 643.5.3.3 Revision of Final Administrative Decisions; Kühne &Heitz, Arcor and i-21

and Kapferer / 663.5.3.4 The Length of the National Time-Limit / 683.5.4 Member State Liability for 'Serious' Breaches of EC Law / 693.5.4.1 Introduction; Conditions for Liability / 693.5.4.2 'Sufficiently Serious' Breach of EC Law / 713.5.4.3 Interaction with Direct Effect; Incidental Damages / 723.5.4.4 State Liability for Wrongful Supreme Court Judgments / 73

Contents

Chapter 4 European Tax Harmonization Policy / 75

4.1 Indirect Taxes / 754.1.1 First and Second Directives / 764.1.2 Third, Fourth and Fifth Directives / 784.1.3 Background of the Sixth Directive; the Own Resources / 794.1.3.1 Other Numbered VAT Directives / 814.1.4 The Abolition of Fiscal Frontiers / 824.1.5 A Common System of VAT / 844.1.6 The New Strategy / 864.2 DirectTaxes/914.2.1 Introduction / 914.2.1.1 Direct Taxation Differences as an Obstacle to the Common Market / 914.2.1.2 Goals and Means of EC Direct-tax Policy; From Positive to Negative

Integration and From Hard Law to Soft Law / 914.2.1.3 Progress and results; Negative Integration Wins by a mile / 934.2.2 Capital Import Neutrality (CIN; Exemption) and Capital Export Neutrality

(CEN;Credit)/944.2.2.1 Source taxation and residence taxation; assumption and exercise of

taxingjurisdiction / 944.2.2.2 Capital Export Neutrality; the Credit Method / 964.2.2.3 Capital Import Neutrality; the Exemption Method / 984.2.2.4 Differences and Similarities; Deferral; CFC Legislation / 994.2.2.5 Acceptance of Both Systems; Remaining Inconsistencies /1014.2.3 Taxation of Distributed Company Profits /1024.2.3.1 Classical Systems /1034.2.3.2 Semi-classical (Schedular) Systems /1034.2.3.3 Either/or Systems /1034.2.3.4 Semi-either/or System: Final Withholding Tax /1044.2.3.5 Imputation Systems /1054.2.3.6 International Neutrality; Negative Integration; ECJ Case Law; Exit

Imputation /1054.2.3.7 Conclusion /1074.2.4 Minimum Harmonization of Individual Income Taxes /1084.2.5 The Soft Law Approach /1094.2.6 Tax Competition and State Aid /1104.2.6.1 Introduction /1104.2.6.2 The Code of Conduct for Business Taxation and the Primarolo

Exercise /1124.2.6.3 The State Aid Prohibition Approach /1144.2.6.4 Conclusion /1174.2.7 Single Base Taxation; CCCTB and HST /1174.2.7.1 Introduction /1174.2.7.2 CCCTB / 1184.2.7.3 Home State Taxation (HST) /120

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Contents

Part B Positive Integration

Chapter 5 The Community Customs Code /125

5.1 Introduction/1255.2 Methods of Levying Duties /1265.2.1 Privileged operations /1265.2.2 Customs debt /1265.2.3 Factors on the basis of which duties are applied /1275.2.3.1 The Customs Tariff /1275.2.3.2 Origin /1285.2.3.3 Customs Value /1285.3 The System of Formalities and Supervision /1295.3.1 EntryofGoods/1295.3.2 Customs-approved Treatment or Use /1295.3.2.1 Re-exportation /1295.3.2.2 Destruction and Abandonment /1305.3.2.3 General Provisions on Declarations /1305.3.2.4 Release for Free Circulation /1315.3.2.5 Exportation /1315.3.2.6 Transit /1315.3.2.7 Warehousing /1325.3.2.8 Free Zones and Free Warehouses /1325.3.2.9 Inward Processing /1325.3.2.10 Outward Processing /1335.3.2.11 Processing under Customs Control /1335.3.2.12 Temporary Importation /133

Chapter 6 Value Added Tax - The Recast VAT Directive /135

6.1 Introduction/1356.2 Subject Matter/1356.3 Scope/1366.4 Territorial Application /1366.5 Taxable Persons /1376.6 Taxable Transactions /1426.6.1 New Means of Transport /1466.7 Place of Taxable Transactions /1476.8 Chargeable Event and Chargeability of Tax /1556.9 Taxable Amount /1566.10 Rates/1596.11 Exemptions/1626.11.1 Exemptions without the Right to Deduction /1626.11.2 Exemptions relating to intra-Community Transactions /1686.11.3 Exemptions on Importation /1706.11.4 Exemptions on Exportation /171

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6.11.5 Exemptions Related to International Transport /1716.11.6 Exemptions Relating to Certain Transactions Treated as Exports /1726.11.7 Exemptions for the Supply of Services by Intermediaries /1726.11.8 Exemptions for Transactions Relating to International Trade /1736.12 Deductions/1736.12.1 Origin and Scope of Right of Deduction /1746.12.1.1 Refunds/1766.12.2 Proportional Deduction /1786.12.3 Restrictions on the Right of Deduction /1816.12.4 Rules Governing the Exercise of the Right of Deduction /1826.12.5 Adjustment of Deductions /1836.13 Obligations of Taxable Persons and Certain Non-taxable Persons /1856.13.1 Obligation to Pay /1856.13.2 Identification /1896.13.3 Invoicing /1896.13.4 Accounting /1936.13.5 Returns/1936.13.6 Recapitulative Statements /1946.13.7 Other Provisions /1946.13.8 Obligations in Respect of Imports /1956.14 Special Scheines /1966.14.1 Small and Medium-sized Enterprises /1966.14.2 Farmers /1976.14.3 Travel Agents /1976.14.4 Second-hand Goods, Works of Art, Collectors' Items and Antiques /1986.14.5 Investment Gold /1996.14.6 Non-established Taxable Persons Supplying Electronic Services to

Non-taxable Persons /1996.15 Derogations / 2006.15.1 Derogations Applying Until the Adoption of Definitive

Arrangements / 2006.15.2 Derogations Subject to Authorisation / 2026.16 Miscellaneous / 2026.16.1 Implementing measures / 2036.16.1.1 The Council Regulation laying down implementing measures / 2036.16.2 VAT Committee / 2046.16.3 Conversion Rates / 2046.16.4 Taxes, not to be Characterised as Turnover Taxes / 2056.17 Final Provisions / 2056.17.1 Transitional Arrangements and Transitional Measures / 2056.17.2 Transposition and Entry into Force / 206

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Chapter 7 Excises and Energy Taxation / 207

7.1 Introduction / 2077.2 The Horizontal Directive / 2087.2.1 Products Subject to Excise Duties / 2087.2.2 Taxable Event and Chargeability / 2107.2.3 Production, Processing and Holding / 2117.2.4 Movement of Goods / 2127.2.5 PaymentoftheDuty/2137.2.6 Anti-avoidance Provisions / 2147.2.7 Exemptions / 2157.3 The Original Rules with Regard to Mineral Oils / 2157.4 Alcohol and Alcoholic Beverages / 2167.4.1 Beer/2167.4.2 Wine / 2167.4.3 Fermented Beverages other than Wine and Beer / 2177.4.4 Intermediate Products / 2177.4.5 Ethyl Alcohol / 2187.5 Tobacco/2187.5.1 The Rates on Tobacco / 2197.6 Energy and Environmental Taxation / 2207.7 The New Directive on Energy Taxation / 221

Chapter 8 The Parent-Subsidiary Directive / 225

8.1 Introduction / 2258.2 Main Features / 2268.3 Qualifying Companies (Arts. 2 and 3) / 2268.3.1 'Company of a Member State' and 'Permanent Establishment'

(Art. 2 ) /2268.3.2 Parent and Subsidiary Status (Art. 3) / 2298.4 Inbound Dividends: Exemption or Indirect Credit (Art. 4) / 2318.4.1 The General Rule: Choice of Exemption or Indirect Credit;

Even Asymmetrical? / 2318.4.2 (No) Credit for Remaining Withholding Tax / 2328.4.3 Respecting Both CIN and CEN / 2328.4.4 Ordinary Credit; Excess Foreign Corporation Tax / 2338.4.5 Multi-tier Credit / 2338.4.6 (Non-)deductibility of Charges Related to the Holding (Art. 4(2));

the Bosal Case / 2348.5 'Distributions of Profits'; Constructive Dividends; Hybrid (Transparent)

Entities / 2388.5.1 Distributions of Profits (Art. 1) / 2388.5.2 Hybrid Entities (Art. 4(la)); Fiscal Transparency / 2398.6 Outbound Dividends: Abolition of Withholding Tax (Art. 5) / 2408.6.1 The General Rule / 240

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8.6.2 Transitional and Deleted Derogations / 2408.6.3 'Withholding Tax'; the Epson Europe, Athinaiki Zythopoiia, Oce van der

Grinten and Fll GLO Cases / 2418.6.4 Article 6; (No) Precompte Mobilier / 2438.6.5 Imputation Systems; Imputation Taxes; Cross-border Payment of

Imputation Credit (Art. 7) / 2438.7 No Temporal Compartmentalization of Dividends; (No) Write-down of

the Holding Subsequent to Distribution / 2448.8 Anti-abuse Reservation (Art. 1(2)) / 244

Chapter 9 The Fiscal Merger Directive / 247

9.1 Introduction; Objective; History / 2479.2 Ad Hoc Tax Problems of Mergers / 2499.3 Longer term Tax Problems of (Share) Mergers / 2499.4 Operations Covered (Art. 2) / 2519.4.1 The Operations Listed in Article 2(a-d) and (j) / 2519.4.2 'Branch of Activity' (Art. 2(i)); Independent Functioning / 2539.4.3 Coverage after the SEVIC Case, the 2005 Amendment, and the 2005

Company Law Directive on Cross-border Mergers of Limited LiabilityCompanies / 254

9.5 10% Additional Cash Pay-out (Art. 2) / 2 569.6 Gist and System of the Directive / 2579.7 Qualifying Companies (Art. 3) / 2589.8 Taxation of the Companies Involved / 2599.8.1 Deferral of Capital Gains Tax and Carry-over of Balance-sheet Values

(Arts .4 ,9andl0b)/2599.8.2 Carry-over of Losses Connected to the Remaining Branch (Arts. 6 and

10c(2))/2599.8.3 Carry-over of Tax-free Provisions and Reserves (Arts. 5 and 10c( 1)) / 2609.8.4 Branch Requirement (Arts. 4( 1 )(b) and 10b( 1)) / 2609.8.5 Valuation of Shares Received / 2619.8.6 Hybrid (Transparent) Entities / 2629.9 Cancellation of Shares (Art. 7) / 2639.10 Taxation of the Shareholders Involved (Arts. 8,10a and lOd) / 2649.11 Contribution or Incorporation of a Foreign Branch (Art. 10) / 2659.12 Operations and Migrations Not Covered / 2669.13 The Anti-abuse Reservation (Art. 11) / 2679.13.1 Evasion and Avoidance / 2679.13.2 The Leur-Bloem Case; Introduction / 2679.13.3 Admissability: Internat Situation, but National Law Refers to EC Law / 2689.13.4 The Substantive Questions; The Anti-Abuse Clause: 'Reservation of

Competence' / 2689.13.5 Implications; Division of the Onus of Proof / 2709.13.6 Purely Fiscal Advantages Are Not 'Valid Commercial Reasons" / 2709.13.7 Is the Anti-abuse Reservation Redundant? / 271

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Chapter 10 Transfer Pricing and the Arbitration Convention / 273

10.1 Introduction / 27310.1.1 Transfer Pricing / 27310.1.2 The Convention / 27510.2 Legal Basis / 27510.3 Principle and Main Features / 27710.4 Interpretation and Application / 27810.4.1 In general / 27810.4.2 The Joint Transfer pricing Forum; two Codes ofConduct /27910.5 Scope/28010.6 The Procedures / 28110.6.1 Notification and Objections / 28110.6.2 Mutual Agreement Procedure / 28210.6.3 Arbitration Procedure / 28210.6.4 Elimination of Double Taxation / 28410.7 Duration/28410.8 The Future: Unitary Taxation; CCCTB and Formula Apportionment / 28510.9 Negative Integration; the Lankhorst and Thin Cap Cases; Thin

Capitalization and the Proportionality of the Arm's Length Test / 287

Chapter 11 The Interest and Royalty Directive / 291

11.1 Introduction; Background and History / 29111.2 The Exemption from Source State Tax / 29211.2.1 Main Rules; Definitions; Beneficial Ownership (Art. 1) / 29211.2.2 Exclusion of Dividend-like and Not at Arm's Length Payments / 29411.2.3 Procedural Requirements (Art. 1 (11)-(14)) / 29411.2.4 Repayment Claim if Exemption Failed (Art. 1 (15)-(16)) / 29511.3 Transitional Derogations for Some Member States; Ordinary Credit for

Residual Source Tax (Art. 6) / 29511.4 Qualifying Companies (Art. 3); 'Associated Company' and 'Permanent

Establishment' / 29611.4.1 "Company of a Member State' (Art. 3(a)) / 29611.4.2 'Associated' Company (Art. 3(b)) / 29711.4.3 Minimum Association Period (Art. 1(10))/ 29811.4.4 Permanent Establishment (Art. 3(c)) / 29811.5 Definitions of 'Interest' and 'Royalty' / 29911.6 Anti-avoidance Provisions / 29911.7 Some Comments / 301

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Chapter 12 The Savings Interest Directive / 303

12.1 Introduction; Background / 30312.2 Dates of Application; Equivalent Measures as Regards Third States and

Dependent and Associated Territories / 30412.3 Main Features, Scope and System / 30512.3.1 The Ultimate System: Exchange of Information and Residence State

Taxation / 30512.3.2 Transitional Source Taxation in Three Member States; Double Taxation

Relief; Renegotiation of Tax Treaties? / 30612.4 Definitions / 30712.4.1 'Paying Agent'/ 30712.4.2 'Beneficial Owner' / 30712.4.3 'Interest Paymenf / 30812.5 Identification of the Beneficial Owner and Determination of his

Residence / 30812.6 Content and Exchange of the Information / 30912.7 GrandfatherCIause/31012.8 Concluding Remarks / 311

Chapter 13 Mutual Assistance in the Assessment and RecoveryofTax Claims / 313

13.1 Direct Taxes/ 31313.13.13.13.13.13.13.

.1 The Mutual Assistance Directives; Background / 313

.2 Scope of the Assessment Assistance Directive / 314

.3 Types of Exchange / 317

.4 Admission of Foreign Officials / 318

.5 Notification of Foreign Tax Decisions / 319

.6 Simultaneous Controls / 319

.7 Confidentiality and Other Limitations on the Use of the InformationObtained / 320

13.1.8 Grounds for Refusal of Cooperation / 32113.1.9 Taxpayer's Judicial Protection / 32213.1.10 Mutual Assistance in the Recovery of Tax Claims / 32213.2 Indirect Taxes/32413.3 Intrastat / 32513.4 Regulation (EC) No. 1798/2003 on Administrative Cooperation / 32613.4.1 Cooperation on Request / 32913.4.2 Exchange of Information Without Prior Request / 33013.4.3 Conditions Governing the Exchange of Information / 33313.4.4 Administrative Cooperation in the Field of Excise Duties / 334

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Part C Negative Integration

Chapter 14 Negative Integration of Direct Taxes; the ECJ Case Law on Taxationand Free movement / 337

14.1 Source and Residence Taxation; Inbound and Outbound Flows of Income;The Basic Clash between International Tax Law and Community Law / 337

14.2 Territoriality Principle or EU-wide Taxation / 34114.3 Basic Assumptions, Principles, Trends and General Issues in the Court's

Direct Tax Jurisprudence / 34314.3.1 The Balancing Act; 'Second generation" Case Law / 34314.3.2 The Internal market Compatibility Standard: To Subject or not to Subject;

the Relevant 'Tax Market' for Comparison Purposes; Assertion andExercise of Taxing Power / 345

14.3.3 Departures from the Subject-to-tax Approach: 'Always Somewhere'(One-Market), Mutual Recognition, Follow-the-Directive, andNeutralization in the other Jurisdiction / 349

14.3.3.1 Introduction / 34914.3.3.2 The 'Always-Somewhere' or 'One-Market' Approach; De Groot, Bosal,

Marks & Spencer II and N. v Inspecteur \ 35014.3.3.3 The Mutual Recognition Approach; Eurowings, IG, Metallgesellschaft and

OyAA/35214.3.3.4 The Follow-the-Directive Approach; Test Claimants in the FII Group

Litigation; Acceptance of the credit method / 35414.3.3.5 The Overall-Approach: Neutralization in the Other Jurisdiction; De Groot,

Denkavit France, Amurta / 35514.3.4 The Developing ECJ Views on Prevention of Abuse of Rights in Tax Matters

and its Relation to Fiscal Coherence/Balanced Allocation / 35814.3.4.1 Overview / 35814.3.4.2 The First Shot Across the Bows: Avoir Fiscal; abuse is no excuse / 35914.3.4.3 Prevention of Abuse of rights as a General Principle of Community Law;

ICI, Eurowings, Emsland-Stärke, Halifax and Cadbury Schweppes (and manymore) / 359

14.3.4.4 The Most Recent Case Law: General Exclusions of Categories ofCross-border Cases; Fiscal Coherence Really? / 363

14.3.4.5 Procedural Issues; Division of the Bürden of Proof and Consequences of aFindingofAbuse/366

14.3.5 Allowing General Tax Base Protection: Fiscal Cohesion, FiscalTerritoriality, and Preservation of a Balanced Allocation of Taxing Power;Source Country Entitlement / 368

14.3.5.1 Introduction; Rise and fall of Fiscal Cohesion; Bachmann / 36814.3.5.2 The Fiscal Principle of Territoriality; Futura, Marks &Spencer II and

N. v Inspecteur / 37014.3.5.3 The Need to Preserve a Balanced Allocation of Taxing Power / 37214.3.5.4 Conclusion: One Single (but Murky) Concept; Does a Balanced Allocation

Exclude Abuse? / 373

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14.4 General Technical Tax Issues in the Case Law / 37414.4.1 Division of Tax Jurisdiction and Double Taxation Relief Mechanisms;

Tax Treaty Issues/37414.4.1.1 Overview; National Autonomy; Tax treaties; OECD Model 'Not

Unreasonable' / 37414.4.1.2 Treaties to be Regarded as National Law; The Overall Approach / 37614.4.1.3 Limitation on Benefits, Beneficial Ownership, (No) Most-favoured Nation

Treatment, Treaties with Third States / 37614.4.1.4 The Basics of Tax Treaties From a Free Movement Perspective; the Gilfy

Case/37914.4.1.5 Treaty overrides / 38214.4.2 Exit Taxes / 38214.4.2.1 The Restriction; Types of Exit Taxes / 38214.4.2.2 Emigration of Individuais / 38414.4.2.3 Emigration of Companies / 38514.5 Individual Income taxation / 38914.5.1 Tax Scales and Correction of Withholding tax by Assessment on Year

Basis / 38914.5.2 Income-related Deductions / 39014.5.3 Person- and Family-Related Tax Allowances / 39114.5.3.1 Home State Responsibility; No National treatment in the Source

State / 39114.5.3.2 But Residents and Nonresidents are Not in a Different Position / 39314.5.3.3 Exacerbating Disparities / 39514.5.3.4 The Mechanics of Prevention of Double taxation / 39514.5.3.5 Rate Progression in Cross-border Situations; Two Inconsistencies of

International Tax Law / 39614.5.3.6 Trying to Get it Right / 39714.5.3.7 The De Groot Case: A Chance Missed / 39814.5.4 Pensions and Annuities / 39914.5.5 National Treatment of Foreign-source Portfolio Investment Income / 40114.5.5.1 National treatment of foreign dividends: Exit Imputation Systems / 40114.5.5.2 Ordinary Credit for Foreign Withholding Taxes; But: the

Kerckhaert-Morres Escape/40214.5.6 Private Investment Incentives also for Cross-border Investments / 40414.6 Corporate Income Taxation / 40514.6.1 Host State: Equal Treatment of Branches (Nonresidents) and Subsidiaries

(Residents) / 40514.6.2 Origin State: Equal Treatment of Parents holding Foreign Subsidiaries and

Parents holding Domestic Subsidiaries? / 40714.6.3 Group Taxation Scheines / 40814.6.4 Transfer Pricing and Thin Capitalization / 40914.6.5 Cross-border Loss Relief / 40914.6.5.1 Marks & Spencer II: Cross-Border Relief for Terminal Subsidiary

Losses / 40914.6.5.2 Pending Cases / 411

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14.6.6 CFC Legislation / 41314.6.7 Cross-border Dividend Taxation and Tax Crediting / 41714.6.7.1 Possible Discriminations of Cross-border(Group) Dividends; Juridical and

Economical Double Taxation / 41714.6.7.2 Outbound Dividends: Taxation, by the Source State, of Nonresident

Shareholders/Parent Companies / 41814.6.7.3 Inbound Dividends: Taxation of Foreign-source Dividends in the Hands of

Residents / 42014.6.8 Concluding Remarks / 423

TableofCases/425

Index/437

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