Vienna LL.M - international-tax-law.at · PDF October 2015 KLAUS VOGEL LECTURE 2015 – LUÍS EDUARDO SCHOUERI ON THE ARM’S LENGTH PRINCIPLE: BEYOND THE GUIDELINES OF THE

October 2015www.international-tax-law.at

KLAUS VOGEL LECTURE 2015 – LUÍS EDUARDO SCHOUERI ON THE ARM’S LENGTH PRINCIPLE: BEYOND THE GUIDELINES OF THE OECD

Luís Eduardo Schoueri delivered the Klaus Vogel Lecture 2015 and analyzed the history and purpose of the arm’s length principle in transfer pricing. Based on the concept of distributive justice developed by Klaus Vogel, he argued that the original intent of transfer pricing, the fair distribution of the tax burden among taxpayers, is no longer reflected by the current discussions surrounding the OECD BEPS Project, which focuses more on the distribution of tax revenues among states. Subsequently, Prof. Schoueri presented his criticism of the arm’s length principle and evaluated several alternatives, such as the formulary apportionment method, which is being considered, for example, by the EU for its CCCTB proposal, and the Rebuttable Fixed Margins Method (RFM), which is being implemented, for example, by Brazil in its domestic transfer pricing provisions.The comments on the Klaus Vogel Lecture were delivered by Dr. Andresen (PwC Frankfurt), who partly supported the position taken by Prof. Schoueri. Dr. Andresen stressed the need to take into account the respective interests of the different countries involved in the debate, particularly because the interests of industrialized countries may differ significantly from those of developing countries. He argued that the best results can be achieved if both tax administrations involved in a transfer pricing debate, as well as the taxpayers concerned, cooperate with one another. Dr. Andresen concluded his remarks by suggesting that it would be worthwhile to create a global database of transfer pricing cases, since, currently, there is a lack of availability of valuable case law.One hundred and eighty participants from around the world

attended the lecture, at which the Master’s theses of the Part-time 13/15 and Full-time 14/15 course were presented.The program on the day following the Klaus Vogel Lecture was reserved for LL.M. alumni. In the morning, Prof. Claus Staringer looked “Back to the Future of Tax”; this was followed by the presentation of the WTS Award. All Master’s theses submitted by students who graduated in 2015 were eligible and a jury selected the best three papers. The winners received prizes of EUR 2,500, EUR 1,500 and EUR 1,000 for first, second, and third place, respectively.In the afternoon, a group of graduates explored “Wien and wine”. The group started the tour at Schlumberger, Austria’s oldest sparkling wine cellars, and enjoyed a tasting of Austrian champagne. This was followed by a guided tour through the vineyards of Grinzing and ended at a typical Viennese Heuriger (wine tavern) where a traditional Viennese buffet and locally blended wine were served.The next Alumni Reunion is scheduled for September 23-24, 2016. Please save the date!

INTERNATIONAL TAX LAWVIENNA

Vienna LL.M. News

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October 2015www.international-tax-law.at

In class / Alumni

EXCURSION TO BRUSSELS

Tomas Urbasek

Full-time group 2014/15

Benjamin Walker

TAX ADVISOR OF THE YEAR

Last year I won the competition “Tax Advisor & Tax Firm of the Year” in the Czech Republic. This competition aims to select the best tax specialists, tax personalities, and choose the most accommodating workplace. The partners of the competition include, e.g., the Chamber of Registered Tax Advisors, the Chamber of Certified Accountants and the Financial Administration of the Czech Republic. It’s a great achievement for me and rewards my work and relationships with clients

and people. My studies in the LL.M. Program in International Tax Law in Vienna have doubtless contributed to this success.

Tomas Urbasek (Czech Republic, Part-time 2007/09)

CARPE DIEM

I received a double degree in Law and Finance from the University of Otago, New Zealand. The University of Otago is New Zealand’s highest ranked university for research, and the Faculty of Law is renowned for its excellence. Further education was always on my mind. The LL.M. has a reputation for one of the best international tax LL.M’s in the world, and I was not disappointed. The faculty and course content were beyond my expectations, and it was an amazing experience for me personally. Since completing the LL.M. in 2013, I have been working in the International Tax Services department of Ernst & Young in London. The knowledge and skills gained in Vienna were

directly relevant to my job, and I had a real competitive advantage. The current regulatory and economic environment in the UK has given me the opportunity to engage in billion-dollar transactions with both inbound and outbound clients. In September, I was admitted to the Doctoral program in International Business Taxation (DIBT) in Vienna with a scholarship from Henkel. I must give a special thanks to Prof. Lang for all his guidance and support. The LL.M. opened a world of possibilities to me and I have two words for those considering the LL.M. or DIBT program: Carpe Diem!

Benjamin Walker (New Zealand, Full-time 2012/13)

The lectures of the Vienna LL.M. program are not limited to the classrooms in Vienna. In February 2015, the full-time students went to Brussels on an expedition to acquire international taxation knowledge and drink Belgian beers (one must admit!). Almost the whole group participated in the trip, which was led by our Belgian colleague Yves Van Brussel. We attended lectures related to hot topics at the premises of PwC and Siemens and at the European Commission. We also explored Brussels and Antwerp (Yves’ hometown). The trip was a good way to be together with our colleagues and to be exposed to very up-to-date information, since the subjects presented in the lectures in Brussels were, at different levels, part of the normal LL.M.

Rodolfo Zanutto Velasques (Brazil, Full-time 2014/15)

October 2015www.international-tax-law.at

Alumni

GLOBAL TRENDS IN VAT/GST AND DIRECT TAXES

This volume comprises the Master’s theses of the part-time students attending the 2013/15 program. This book analyzes recent developments and trends in VAT/GST and direct taxation. As the authors show, these recent developments and trends create various challenges and opportunities for the different players, countries, and supranational organizations. In a globalized world, taxation plays a major role for individuals and enterprises when conducting cross-border trade. Hence, both direct and indirect taxes have to be considered in order to comply with the tax legislation, on the one hand, and to reach the preferred result for the taxpayer, on the other hand. This book aims at identifying the recent global trends in both VAT/GST and direct taxation that become visible from an analysis of the similarities and differences of VAT/GST and direct taxes. The

contributions highlight the risks and challenges connected to recent developments in global taxation. The Master’s theses cover numerous topics, ranging from nexus in taxation, transfer pricing, share deals, European State aid, non-discrimination rules, tax abuse, compliance issues, charities and developments in VAT/GST as well as direct taxation in the context of the OECD Base Erosion and Profit Shifting (BEPS) report. The contributions included in this book illustrate and reflect the great variety of the students’ personal, cultural, and professional backgrounds. These topics are looked at from different legal perspectives, including tax policy considerations, EU law, international tax law and – to a certain extent – domestic law, in order to present a wide spectrum of issues and solutions to them.

NON-DISCRIMINATION IN EUROPEAN AND TAX TREATY LAW

This volume comprises the Master’s theses of the full-time students attending the 2014/15 program. The general topic was “Non-Discrimination”, which plays an important, if not crucial, role in many areas of law, such as constitutional law, human rights law, world trade law, EU law, and tax treaty law. Both direct and indirect taxation are affected by the various types of non-discrimination provisions. From a practical point of view, the non-discrimination provisions within the EU legal framework and the non-discrimination concept under Article 24 of the OECD Model are important examples in this respect.The contributions in this book deal, on the one hand, with questions that can be described as evergreens of non-discrimination law, since they have been debated for a long time. On the other hand, they

deal with challenges that have emerged only recently, particularly because of current developments at the OECD level, notably the BEPS project. Although the provisions are different in wording and context, the same issues can often be analyzed under both the EU fundamental freedoms and Article 24 of the OECD Model. The results under these non-discrimination provisions may differ. However, similar policy considerations and arguments often influence the final decisions. This is why some topics in this book are touched on by contributions dealing with similar problems in the light of EU law or from the perspective of Article 24 of the OECD Model. This approach aims at illustrating the similarities and differences in these non-discrimination concepts.www.lindeverlag.at

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Format: 155x225 Bindung: kartoniert Farbe: Pantone

Series on International Tax LawMichael Lang (Ed)

Sebastian PfeifferMarlies Ursprung-Steindl(Eds)

Global Trends in VAT/GST and Direct Taxes

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Open Issues and Recent Challenges

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Non-Discrimination in European and Tax Treaty Law

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Alumni / Miscellaneous

THE WU TRANSFER PRICING CENTER

Transfer pricing is one of the most relevant and challenging topics in the international tax environment. Increasing global trade and the role of multinational enterprises in the global economy have boosted the relevance of this topic. The players currently interacting in this field are mainly international organizations, governments and tax administrations, the business community, and advisors. There is, however, an emerging need for the contribution of academia to these topics in order to make a link between pragmatic solutions and theoretical principles. Against this background, the Institute for Austrian and International Tax Law at WU has established the WU Transfer Pricing Center. The Center is led by Prof. Alfred Storck (Managing Director) and Dr. Raffaele Petruzzi (Managing Director), together with all professors of the Institute (Prof. Michael Lang, Prof. Jeffrey Owens, Prof. Pasquale Pistone, Prof. Alexander Rust, Prof. Josef Schuch, and Prof. Claus Staringer) in their function of Directors,

The traditional soccer match between the Institute’s team and the LL.M. students’ team took place in June. It was exhausting but fun and another great experience during the LL.M.

October 2015www.international-tax-law.at

IMPRINT

Copyright: LL.M. Program in International Tax Law WU / Institute for Austrian and International Tax Law c/o Akademie der Wirtschaftstreuhänder · A-1120 Vienna · Schönbrunner Straße 222-228/1/6/3

Editorial staff: Prof. Michael Lang, Barbara Ender-Rochowansky

Partners: Die Presse, Erste Bank, iStR Verlag Beck, Linde Verlag, PwC, WU Executive Academy

Raffaele Petruzzi

and it will be aimed at investigating, analyzing, debating, and teaching transfer pricing topics. Through its activities, it will position itself as a global institution providing the missing nexus between theory and practice in approaching transfer pricing topics. The Center will combine both academic and practical perspectives and its approach will be highly international and interdisciplinary. In detail, as far as research on and analysis of transfer pricing topics is concerned, the Center will publish articles and books on transfer pricing topics, provide comments to the work of international organizations in this field, and much more. These activities will involve the whole transfer pricing community at the Institute (including professors, research associates, visiting researchers, LL.M. students) and outside the Institute (including international organizations, governments and tax administrations, the business community, and advisors).To stimulate the debate on transfer pricing topics, the Center will organize international conferences and regular events that will bring together the relevant global players in the transfer pricing area, coming from international organizations, governments and tax administrations, the business community, and advisors.Regarding the teaching of transfer pricing topics, the Center will organize regular courses at different levels in order to train professionals from around the world who want to build on or broaden their knowledge of transfer pricing. Furthermore, the Center will develop activities and projects on transfer pricing topics together with other academic institutions, international organizations, governments and tax administrations, the business community, and advisors.We are very excited about these new initiatives and we look forward to welcoming the participation and interest of the entire international tax and global transfer pricing community.

Raffaele Petruzzi (Italy, Full-time 2009/10)