Taxation at IE University | Flashcards & Summaries

Lernmaterialien für Taxation an der IE University

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TESTE DEIN WISSEN

Main Taxes

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TESTE DEIN WISSEN

 Income taxes:
 Individual income tax
 Corporate income tax
 Consumption taxes:
 Value Added Tax (VAT)/Goods and Service Tax (“GST”)
 Sales taxes
 Excise taxes
 Custom duties/tariffs
 Transaction taxes:
 Registration taxes
 Stamp duties
 Finacial transaction taxes
 Wealth taxes:
 Property taxes
 Inheritance and gift taxes

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TESTE DEIN WISSEN

Tax law: sources

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TESTE DEIN WISSEN

 Domestic:
 Domestic legislation, regulation and case-law dealing with domestic and
cross-border situations
 International/supranational:
 Tax treaty law, EU law, WTO law, inherent case-law regulating cross-
border transactions, guidelines by international organizations (soft law)

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TESTE DEIN WISSEN

 Juridical double taxation:

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TESTE DEIN WISSEN

 the same item is taxed twice in the hands of the same taxpayer. E.g.:
o Interest:
1st taxed in the hands of the recipient in the State of source
2nd taxed in the hands of the recipient in the State of residence
 Both domestic and cross-border (but more frequently at the cross-
border level)

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TESTE DEIN WISSEN

Compulsory contribution

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TESTE DEIN WISSEN

Compulsory contribution: “monetary contribution unilaterally
imposed under public law which serves (at least in part) to raise
revenues and is payable to a public authority”
Penalties
Fees
Special contribution
Taxes
Such systematic distinction is more blurred in common law countries (e.g. US,
Shoe and Sebelius cases)

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TESTE DEIN WISSEN

Tax elements

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TESTE DEIN WISSEN

 Amount
 Variable:
o application of a tax rate to a taxable base
 Fixed (“lump sum”)
 Taxpayer
 Individual
 Entity
 Collector and enforcer
 Tax Authorities (US: IRS; Spain: Agencia Estatal de Administration
Tributaria; Italy: Agenzia delle Entrate)
 Private parties (e.g. companies or banks as withholding agents)
 Private contractors

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TESTE DEIN WISSEN

Double Tax Treaties

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TESTE DEIN WISSEN

 Bilateral Tax Conventions on Income and on Capital (“Double
Tax Treaties” or “DTTs”, or «Double Tax Conventions», or
«DTC»):
 DTTs are international treaties usually drafted on the grounds of the
OECD Model
 DTTs establish international obligations upon sovereign States
 DTTs allocate the taxing powers of the Contracting States in order to
avoid or reduce double taxation

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TESTE DEIN WISSEN

We need income tax and VAT? 

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TESTE DEIN WISSEN

- unconsumed wealth - pwr economic + political 
- redistribution - social prob
- symbolic
- regulatory

  • progressive income tax


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TESTE DEIN WISSEN

Taxes vs. fees/special contributions
 Why/when does the distinction matter?


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TESTE DEIN WISSEN

Taxes vs. fees/special contributions
 Why/when does the distinction matter?

Taxes vs. fees/special contributions
 Why/when does the distinction matter?
 Domestic constitutional issue (see e.g. US Supreme Court, Sebelius)
 Application of double tax treaties
 Application of EU Law (see ECJ, de Ruyter)
 Application of EU Law vis a vis double tax treaties (see, ECJ, Derouin)
 Foreign tax credit
 Contractual issues
 Extradition issues
 Diplomatic immunity

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TESTE DEIN WISSEN

Direct vs. Indirect Taxes

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TESTE DEIN WISSEN

Direct vs. Indirect Taxes

Criterion
 Incidence
 Type of manifestation of ability to pay
 General consensus
 Direct taxes: income taxes and wealth taxes
 Indirect taxes: consumption taxes, transaction taxes
 Legal consequences
 E.g.: US Constitution’s apportionment requirement; Canada Federal and
Provincial governments’ competences; French judiciary branches’
competences; Swiss Federation’s tax harmonization power.

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TESTE DEIN WISSEN

Taxes vs. fees/special contributions
 Social security contributions:

 Taxes or user fees?

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TESTE DEIN WISSEN

o Tax Court of Canada, Niemeijer v. R, judgement of 14 Dec 2009: foreign tax
credit for SSCs.
o ECJ, de Ruyter
o ECJ, Derouin

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TESTE DEIN WISSEN

Why Taxation?

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TESTE DEIN WISSEN

Why Taxation?

 Everyday‘s life (and death)
 Politics
 Business
 Legal practice (not necessarily tax law practice)

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TESTE DEIN WISSEN

Double taxation
 Economic double taxation:

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TESTE DEIN WISSEN

 the same item is taxed twice in the hands of two different taxpayer
o E.g.: Corporate profits:
1st taxed as corporate income at the corporation level
2nd taxed as dividends at the shareholders level
 Both domestic and cross-border

Lösung ausblenden
  • 426 Karteikarten
  • 53 Studierende
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Beispielhafte Karteikarten für deinen Taxation Kurs an der IE University - von Kommilitonen auf StudySmarter erstellt!

Q:

Main Taxes

A:

 Income taxes:
 Individual income tax
 Corporate income tax
 Consumption taxes:
 Value Added Tax (VAT)/Goods and Service Tax (“GST”)
 Sales taxes
 Excise taxes
 Custom duties/tariffs
 Transaction taxes:
 Registration taxes
 Stamp duties
 Finacial transaction taxes
 Wealth taxes:
 Property taxes
 Inheritance and gift taxes

Q:

Tax law: sources

A:

 Domestic:
 Domestic legislation, regulation and case-law dealing with domestic and
cross-border situations
 International/supranational:
 Tax treaty law, EU law, WTO law, inherent case-law regulating cross-
border transactions, guidelines by international organizations (soft law)

Q:

 Juridical double taxation:

A:

 the same item is taxed twice in the hands of the same taxpayer. E.g.:
o Interest:
1st taxed in the hands of the recipient in the State of source
2nd taxed in the hands of the recipient in the State of residence
 Both domestic and cross-border (but more frequently at the cross-
border level)

Q:

Compulsory contribution

A:

Compulsory contribution: “monetary contribution unilaterally
imposed under public law which serves (at least in part) to raise
revenues and is payable to a public authority”
Penalties
Fees
Special contribution
Taxes
Such systematic distinction is more blurred in common law countries (e.g. US,
Shoe and Sebelius cases)

Q:

Tax elements

A:

 Amount
 Variable:
o application of a tax rate to a taxable base
 Fixed (“lump sum”)
 Taxpayer
 Individual
 Entity
 Collector and enforcer
 Tax Authorities (US: IRS; Spain: Agencia Estatal de Administration
Tributaria; Italy: Agenzia delle Entrate)
 Private parties (e.g. companies or banks as withholding agents)
 Private contractors

Mehr Karteikarten anzeigen
Q:

Double Tax Treaties

A:

 Bilateral Tax Conventions on Income and on Capital (“Double
Tax Treaties” or “DTTs”, or «Double Tax Conventions», or
«DTC»):
 DTTs are international treaties usually drafted on the grounds of the
OECD Model
 DTTs establish international obligations upon sovereign States
 DTTs allocate the taxing powers of the Contracting States in order to
avoid or reduce double taxation

Q:

We need income tax and VAT? 

A:

- unconsumed wealth - pwr economic + political 
- redistribution - social prob
- symbolic
- regulatory

  • progressive income tax


Q:

Taxes vs. fees/special contributions
 Why/when does the distinction matter?


A:

Taxes vs. fees/special contributions
 Why/when does the distinction matter?

Taxes vs. fees/special contributions
 Why/when does the distinction matter?
 Domestic constitutional issue (see e.g. US Supreme Court, Sebelius)
 Application of double tax treaties
 Application of EU Law (see ECJ, de Ruyter)
 Application of EU Law vis a vis double tax treaties (see, ECJ, Derouin)
 Foreign tax credit
 Contractual issues
 Extradition issues
 Diplomatic immunity

Q:

Direct vs. Indirect Taxes

A:

Direct vs. Indirect Taxes

Criterion
 Incidence
 Type of manifestation of ability to pay
 General consensus
 Direct taxes: income taxes and wealth taxes
 Indirect taxes: consumption taxes, transaction taxes
 Legal consequences
 E.g.: US Constitution’s apportionment requirement; Canada Federal and
Provincial governments’ competences; French judiciary branches’
competences; Swiss Federation’s tax harmonization power.

Q:

Taxes vs. fees/special contributions
 Social security contributions:

 Taxes or user fees?

A:

o Tax Court of Canada, Niemeijer v. R, judgement of 14 Dec 2009: foreign tax
credit for SSCs.
o ECJ, de Ruyter
o ECJ, Derouin

Q:

Why Taxation?

A:

Why Taxation?

 Everyday‘s life (and death)
 Politics
 Business
 Legal practice (not necessarily tax law practice)

Q:

Double taxation
 Economic double taxation:

A:

 the same item is taxed twice in the hands of two different taxpayer
o E.g.: Corporate profits:
1st taxed as corporate income at the corporation level
2nd taxed as dividends at the shareholders level
 Both domestic and cross-border

Taxation

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