Borrow it
Coverart for item
The Resource Effectiveness of the beneficial ownership test in conduit company cases

Effectiveness of the beneficial ownership test in conduit company cases

Creator
Summary
Since the introduction of the term "beneficial owner" to the OECD Model Tax Convention in 1977, courts and the OECD have struggled to interpret the term, and to use it as a test for deciding conduit company cases. If applied in a formal legalistic sense, the beneficial ownership test has no effect on conduit companies because companies are legal persons that, in law, own both their assets and their income beneficially. By contrast, in a substantive sense, a company can never own anything because economically a company is no more than a matrix of arrangements that represents individuals who act through it. Faced with these opposing considerations, courts and the OECD have adopted surrogate tests for the beneficial ownership test. These tests, however, were originally meant to counter different kinds of tax planning strategies. They did not indicate the presence of beneficial ownership. Therefore, they are inappropriate for determining the correct tax treatment of passive income derived by conduit companies. This book examines the conflict between the general policy of double tax treaties embodied in the beneficial ownership requirement and the concept of corporations. The work highlights the shortcomings of surrogate tests with the help of analyses of reported conduit company cases. It offers an alternative approach for interpreting and applying the beneficial ownership test. It contains a critique of the work of the OECD Committee on Fiscal Affairs before the insertion of the term, and suggests appropriate amendments to relevant parts of the official Commentary on the OECD Model Tax Convention
Language
eng
Work
Publication
Extent
XIV, 231 p.
Isbn
9789087221744
Instance
Label
Effectiveness of the beneficial ownership test in conduit company cases
Title
Effectiveness of the beneficial ownership test in conduit company cases
Creator
Subject
Language
eng
Summary
Since the introduction of the term "beneficial owner" to the OECD Model Tax Convention in 1977, courts and the OECD have struggled to interpret the term, and to use it as a test for deciding conduit company cases. If applied in a formal legalistic sense, the beneficial ownership test has no effect on conduit companies because companies are legal persons that, in law, own both their assets and their income beneficially. By contrast, in a substantive sense, a company can never own anything because economically a company is no more than a matrix of arrangements that represents individuals who act through it. Faced with these opposing considerations, courts and the OECD have adopted surrogate tests for the beneficial ownership test. These tests, however, were originally meant to counter different kinds of tax planning strategies. They did not indicate the presence of beneficial ownership. Therefore, they are inappropriate for determining the correct tax treatment of passive income derived by conduit companies. This book examines the conflict between the general policy of double tax treaties embodied in the beneficial ownership requirement and the concept of corporations. The work highlights the shortcomings of surrogate tests with the help of analyses of reported conduit company cases. It offers an alternative approach for interpreting and applying the beneficial ownership test. It contains a critique of the work of the OECD Committee on Fiscal Affairs before the insertion of the term, and suggests appropriate amendments to relevant parts of the official Commentary on the OECD Model Tax Convention
http://library.link/vocab/creatorName
Jain, S. (Saurabh)
Geographic coverage
International
Index
no index present
Language note
English
Literary form
non fiction
http://library.link/vocab/subjectName
  • OECD
  • OECD Model
  • beneficial ownership
  • conduit company
Label
Effectiveness of the beneficial ownership test in conduit company cases
Instantiates
Publication
Extent
XIV, 231 p.
Isbn
9789087221744
Isbn Type
(print)
Label
Effectiveness of the beneficial ownership test in conduit company cases
Publication
Extent
XIV, 231 p.
Isbn
9789087221744
Isbn Type
(print)

Subject

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.3736660 4.9336932
    • IBFD Library Kuala LumpurBorrow it
      No. 1 The Boulevard, Mid Valley City Suite 22.03, Level 22, Centrepoint South Lingkaran Syed Putra, Kuala Lumpur, 59200, MY
      3.148008 101.712199

Library Links

Structured data from the Bibframe namespace is licensed under the Creative Commons Attribution 4.0 International License by International Bureau of Fiscal Documentation. Additional terms may apply to data associated with third party namespaces.