Recently,Chinese President Xi Jinping called for reducing investmentrisks within jurisdictions of the Belt and Road Initiative(BRl).In this article,of whichthe second part will be published in a forthcoming issue of t...Recently,Chinese President Xi Jinping called for reducing investmentrisks within jurisdictions of the Belt and Road Initiative(BRl).In this article,of whichthe second part will be published in a forthcoming issue of the Belt and Road InitiativeTax Journal,we aspire to respond to that call by focusing on one of the overarchingand yet vastly under-explored areas of high relevance for reducing risks of investments:the interplay between tax policy and investment treaty protection.Our claimis that a wise tax policy factors in the impact of investment protection standardsunder international investment agreements(IIAs)on tax measures.To this end,it isadvisable that ministries responsible for tax policy cooperate with those in chargefor developing investments whenever tax measures concern inbound or outboundinvestments.In parallel,"tax administrations could develop technical expertise withrespect to IIA disciplines through closer interaction with government departments incharge of the negotiation oflAs and the defence of investor-state dispute settlement(ISDS)cases and vice versa."展开更多
4.An Introduction to Clash Between Tax Policy and Investment Treaty Protection-Abuse of a State’s Fiscal Powers The standards of investment treaty protection need to be carefully examined vis-à-vis tax policy go...4.An Introduction to Clash Between Tax Policy and Investment Treaty Protection-Abuse of a State’s Fiscal Powers The standards of investment treaty protection need to be carefully examined vis-à-vis tax policy goals.Otherwise tax measures emanating from such goals can clash with those standards.The late Professor Thomas Wälde called such clashes the red flags arising from the conduct of host states in taxation matters viewed against investment protection mechanisms.展开更多
The global minimum tax impacts the effectiveness of tax incentives.Many countries view tax burden reduction as a necessary lever to promote foreign direct investment(FDI)and economic growth.In this article,the authors...The global minimum tax impacts the effectiveness of tax incentives.Many countries view tax burden reduction as a necessary lever to promote foreign direct investment(FDI)and economic growth.In this article,the authors provide a broader perspective.The proposed holistic approach may offer insights to lowincome and emerging countries in facing current challenges in the sphere of taxation and economic growth.展开更多
Implementing and complying with the requirements of the OECD/G20 Inclusive Framework’s Two-Pillar solution presents enormous practical challenges for taxpayers and tax administrations.Not least of these is a complex ...Implementing and complying with the requirements of the OECD/G20 Inclusive Framework’s Two-Pillar solution presents enormous practical challenges for taxpayers and tax administrations.Not least of these is a complex data challenge with over 120 data points needed for Pillar 2 alone.To tackle these effectively,tax administrations should work with each other,and with taxpayers,to develop a coordinated approach drawing on the concept of Cooperative compliance.Such an approach should aim to reduce the administrative burden,increase certainty,and provide a joint learning curve for tax administrations and taxpayers.Developing the right data systems and training people to work with the data will take time and need to start now;if businesses and tax administrations wait until all the rules and regulations have been finalised,it will be too late.In addition,the Pillar 2 Model Rules do not provide for a multilateral mechanism to determine and allocate the top-up tax.The Belt and Road Initiative jurisdictions could consider working together to develop a binding mechanism to allocate the top-up tax between themselves.展开更多
文摘Recently,Chinese President Xi Jinping called for reducing investmentrisks within jurisdictions of the Belt and Road Initiative(BRl).In this article,of whichthe second part will be published in a forthcoming issue of the Belt and Road InitiativeTax Journal,we aspire to respond to that call by focusing on one of the overarchingand yet vastly under-explored areas of high relevance for reducing risks of investments:the interplay between tax policy and investment treaty protection.Our claimis that a wise tax policy factors in the impact of investment protection standardsunder international investment agreements(IIAs)on tax measures.To this end,it isadvisable that ministries responsible for tax policy cooperate with those in chargefor developing investments whenever tax measures concern inbound or outboundinvestments.In parallel,"tax administrations could develop technical expertise withrespect to IIA disciplines through closer interaction with government departments incharge of the negotiation oflAs and the defence of investor-state dispute settlement(ISDS)cases and vice versa."
文摘4.An Introduction to Clash Between Tax Policy and Investment Treaty Protection-Abuse of a State’s Fiscal Powers The standards of investment treaty protection need to be carefully examined vis-à-vis tax policy goals.Otherwise tax measures emanating from such goals can clash with those standards.The late Professor Thomas Wälde called such clashes the red flags arising from the conduct of host states in taxation matters viewed against investment protection mechanisms.
文摘The global minimum tax impacts the effectiveness of tax incentives.Many countries view tax burden reduction as a necessary lever to promote foreign direct investment(FDI)and economic growth.In this article,the authors provide a broader perspective.The proposed holistic approach may offer insights to lowincome and emerging countries in facing current challenges in the sphere of taxation and economic growth.
文摘Implementing and complying with the requirements of the OECD/G20 Inclusive Framework’s Two-Pillar solution presents enormous practical challenges for taxpayers and tax administrations.Not least of these is a complex data challenge with over 120 data points needed for Pillar 2 alone.To tackle these effectively,tax administrations should work with each other,and with taxpayers,to develop a coordinated approach drawing on the concept of Cooperative compliance.Such an approach should aim to reduce the administrative burden,increase certainty,and provide a joint learning curve for tax administrations and taxpayers.Developing the right data systems and training people to work with the data will take time and need to start now;if businesses and tax administrations wait until all the rules and regulations have been finalised,it will be too late.In addition,the Pillar 2 Model Rules do not provide for a multilateral mechanism to determine and allocate the top-up tax.The Belt and Road Initiative jurisdictions could consider working together to develop a binding mechanism to allocate the top-up tax between themselves.
