THE INTERNATIONAL TAX LAW CONCEPT OF DIVIDENDPDF电子书下载

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Chapter 1 Introduction 1

1.1 Subject 1

1.2 Specific Purpose and Scope of the Study 2

1.3 Approach and Research Methods 8

1.4 Relevance of the Study 9

1.4.1 Double Taxation or Non-taxation Caused by Different Dividend Definitions 9

1.4.2 The Concept of Dividend and Tax Neutrality 11

1.5 Materials 12

1.6 Terminology 14

1.7 Outline of the Study 15

Chapter 2 Tax Treatment of the Inter-corporate Cross-Border Dividends 17

2.1 Domestic Law Dividend Taxation Systems 17

2.2 EU Tax Law 18

2.2.1 The Parent-Subsidiary Directive 18

2.2.2 The TFEU Treaty 19

2.2.2.1 Permanent Establishments 19

2.2.2.2 Foreign-Source Dividend of a Resident 20

2.2.2.3 Dividend Received by a Non-resident 22

2.3 Tax Treaties 24

2.4 A Comparison between the Taxation of Dividend and Other Income 26

Chapter 3 Interaction among Different Legal Systems of International Tax Law 31

3.1 Relationship among Different Legal Systems of International Tax Law 31

3.1.1 Relevance of the Relationship 31

3.1.2 Domestic Tax Laws of Two States 31

3.1.3 Tax Treaties and Domestic Tax Law 32

3.1.4 EU Tax Law and Domestic Tax Law 34

3.1.5 Tax Treaties and EU Tax Law 37

3.2 The Classification Conflicts of International Tax Law 39

3.2.1 Description of the Problem 39

3.2.2 Solutions to Classification Conflicts 42

3.2.2.1 General Solutions 42

3.2.2.2 Express Definitions in Tax Treaties 46

3.2.2.3 The Rule of Interpretation in Tax Treaties 47

3.2.2.4 Double Taxation Relief Articles 49

3.2.2.5 Mutual Agreement Procedure 51

3.2.2.6 Solutions in Actual Tax Treaties 52

3.3 Conclusions 53

Chapter 4 Different Dividend Concepts in International Tax Law 55

4.1 The Norms Determining the Tax Law Concept of a Dividend 55

4.2 Domestic Laws 58

4.3 The EU Parent-Subsidiary Directive 59

4.4 Tax Treaties 62

4.4.1 Introduction 62

4.4.2 The Model Conventions 63

4.4.3 Actual Tax Treaties 66

4.5 Conclusions 67

Chapter 5 Dividend-Distributing Entities 71

5.1 Introduction 71

5.2 Domestic Laws 72

5.2.1 Different Forms of Doing Business 72

5.2.2 Entity Classification for Tax Law Purposes 73

5.2.3 Dividend-Distributing Entities 74

5.2.4 Inconsistent Classification and the Elimination of Double Taxation 75

5.3 The EU Parent-Subsidiary Directive 75

5.4 Tax Treaties 77

5.4.1 The Model Conventions 77

5.4.2 Actual Tax Treaties 84

5.5 Conclusions 87

Chapter 6 Dividend-Stripping and the Dividend-Generating Relationship 91

6.1 Introduction 91

6.2 The Basic Relationship 93

6.2.1 Domestic Tax Laws 93

6.2.2 The Parent-Subsidiary Directive 93

6.2.3 Tax Treaties 96

6.2.3.1 The Model Conventions 96

6.2.3.2 Actual Tax Treaties 97

6.2.4 Conclusions 99

6.3 Classification of Payments under Dividend-Stripping Arrangements 99

6.3.1 Proceeds from the Transfer of Dividend Rights 99

6.3.1.1 Introduction 99

6.3.1.2 Domestic Tax Laws 100

6.3.1.3 The EU Parent-Subsidiary Directive 100

6.3.1.4 Tax Treaties 101

6.3.1.5 Conclusions 105

6.3.2 Substitute Payments under Equity Securities Lending Transactions 107

6.3.2.1 Introduction 107

6.3.2.2 Domestic Tax Laws 109

6.3.2.3 The EU Parent-Subsidiary Directive 109

6.3.2.4 Tax Treaties 110

6.3.2.5 Conclusions 114

6.3.3 Dividend Equivalent Payments from Derivative Financial Instruments 115

6.3.3.1 Introduction 115

6.3.3.2 Domestic Tax Laws 122

6.3.3.3 The Parent-Subsidiary Directive 123

6.3.3.4 Tax Treaties 123

6.3.3.5 Conclusions 126

Chapter 7 Fictive Distributions as a Dividend 127

7.1 Classification of CFC Income 127

7.1.1 Introduction 127

7.1.2 Domestic Tax Laws 130

7.1.3 EU Law 130

7.1.3.1 The TFEU Treaty 130

7.1.3.2 The EU Parent-Subsidiary Directive 132

7.1.4 Tax Treaties 134

7.1.5 Conclusions 140

7.2 Treatment of Bonus Shares 141

7.2.1 Introduction 141

7.2.2 Domestic Tax Laws 142

7.2.3 The EU Parent-Subsidiary Directive 142

7.2.4 Tax Treaties 144

7.2.5 Conclusions 147

Chapter 8 Classification of Economic Benefits from Corporations to their Shareholders in the Form of Transfer Prices 149

8.1 Introduction 149

8.2 Domestic Laws 152

8.3 EU Tax Law 153

8.3.1 The TFEU Treaty 153

8.3.2 The Parent-Subsidiary Directive 154

8.4 Tax Treaties 156

8.5 Conclusions 161

Chapter 9 Classification of Return on Debt-Equity Hybrids 163

9.1 Introduction 163

9.2 General Approaches 165

9.2.1 General Characteristics of Debt and Equity 165

9.2.2 Domestic Tax Laws 168

9.2.3 The EU Parent-Subsidiary Directive 170

9.2.4 Tax Treaties 174

9.2.4.1 The Model Conventions 174

9.2.4.2 Actual Tax Treaties 179

9.3 Interest on Long-Term or Perpetual Debt 180

9.3.1 Introduction 180

9.3.2 Domestic Tax Laws 182

9.3.3 The EU Parent-Subsidiary Directive 182

9.3.4 Tax Treaties 183

9.4 Interest on Profit-Participating Debt Instruments 185

9.4.1 Introduction 185

9.4.2 Domestic Tax Laws 186

9.4.3 The EU Parent-Subsidiary Directive 187

9.4.4 Tax Treaties 187

9.5 Interest on Convertible Debt Instruments 190

9.5.1 Introduction 190

9.5.2 Domestic Tax Laws 192

9.5.3 The Parent-Subsidiary Directive 192

9.5.4 Tax Treaties 193

9.6 Interest on Subordinated Debt Instruments 195

9.6.1 Introduction 195

9.6.2 Domestic Tax Laws 196

9.6.3 The EU Parent-Subsidiary Directive 196

9.6.4 Tax Treaties 197

9.7 Classification of the Return on Preferred Shares 198

9.7.1 Introduction 198

9.7.2 Domestic Tax Laws 200

9.7.3 The EU Parent-Subsidiary Directive 201

9.7.4 Tax Treaties 202

9.8 Conclusions 204

Chapter 10 Classification of Interest in Thin Capitalization Situations 207

10.1 Introduction 207

10.2 Non-discrimination 209

10.2.1 Tax Treaties 209

10.2.2 The TFEU Treaty 210

10.3 The EU Parent-Subsidiary Directive 211

10.4 Tax Treaties 215

10.5 Conclusions 221

Chapter 11 Classification of Liquidation Distributions 223

11.1 Introduction 223

11.2 Domestic Tax Laws 225

11.3 The EU Parent-Subsidiary Directive 226

11.4 Tax Treaties 230

11.4.1 The Model Treaties 230

11.4.2 Actual Treaties 237

11.5 Conclusions 238

Chapter 12 Concluding Remarks 239

12.1 General 239

12.2 Dividend-Distributing Entities 239

12.3 Dividend-Stripping and the Dividend-Generating Relationship 241

12.3.1 The Basic Relationship 241

12.3.2 Dividend-Stripping Arrangements 242

12.3.2.1 Transfer of Dividend Rights 242

12.3.2.2 Equity Securities Lending Transactions 243

12.3.2.3 Derivative Financial Instruments 244

12.4 Fictive Distributions 244

12.4.1 CFC Income 244

12.4.2 Bonus Shares 245

12.5 Economic Benefits in the Form of Transfer Prices 246

12.6 Return on Debt-Equity Hybrids 246

12.7 Thin Capitalization Interest 247

12.8 Liquidation Distributions 248

12.9 Final Conclusions 249

Bibliography 251

Index 279

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