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ARTICLES
Lecture in Honour of Klaus Vogel
Prof. Leif Mutén and Prof. Jürgen Lüdicke
pp. 2-12
The first "Klaus Vogel Lecture", entitled "European Tax Law, quo vadis?", was held on 25 October 2007 at the Vienna University of Economics and Business Administration (Wirtschaftsuniversität Wien). The lecture was delivered by Prof. Leif Mutén, after which Prof. Dr Jürgen Lüdicke gave his comments on the lecture. This article contains the lecture given by Prof. Mutén and the comments made by Prof. Lüdicke.
Real Property Investments in France - ECJ Finds France's 3% Tax to be Incompatible with the Free Movement of Capital
Laurent Leclercq and Vanessa Raindre
pp. 13-18
The European Court of Justice handed down its decision in the ELISA case on 11 October 2007. The case concerns the French legislation that provides for a 3% tax, assessed annually, on the commercial value of immovable property located in France. After some introductory remarks explaining the French legislation at issue, this article discusses the facts and issues in ELISA and the reasoning of the ECJ. The article also examines what can be derived from ELISA - the additional clarification of tax avoidance and exchange of information, and the practical consequences for EU and non-EU investors in French real property.
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Rationalizing EU Taxation of Commercial Motor Fuel: Harmonized Rates versus Apportionment - Economic and Legal Issues
Charles E. McLure, Jr.
pp. 19-31
In the European Union, commercial motor fuel is taxed by the Member State where it is purchased, regardless of where it is consumed. To reduce the economic distortions inherent in this origin-based system, the EU imposes a minimum tax rate on commercial motor fuel. This article argues that, rather than raising the minimum rate, as the European Commission recently proposed, it would be preferable to switch to a destination-based system in which the Member States tax the commercial motor fuel deemed to be consumed within their borders.
Cross-Border Tax Arbitrage Using Inbound Hybrid Financial Instruments Curbed in Denmark by Unilateral Reclassification of Debt into Equity
Jakob Bundgaard
pp. 33-43
This article analyses a new provision in Danish tax law - Sec. 2B of the Corporation Tax Act - aimed at curbing cross-border tax arbitrage through the use of hybrid financial instruments. The effect of the provision is to reclassify debt between group companies as equity, and thus interest into dividends. The article examines the requirements for applying Sec. 2B and provides a comprehensive analysis of the consequences of applying it.
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