Indian automobile industry is one of the fast-growing industries in the world. It contributes significantly to global value chain. Growth of automobile industry is highly correlated with the development of other sectors in the economy. India is the world’s largest producer of heavy motor vehicles. The share of automobile sector in GDP is 7.1 percent and provides employment opportunities to over 35 million people and its share in total exports is 4.3 percent (Invest India, 2020). Increasing population and growth in per capita income have provided stimulus for growth of Indian automobile industry. The government of India envisioned to make India a manufacturing hub of automobiles; it brought many initiatives to make India an attractive destination for automotive companies. Among the initiatives taken by the government, the most important one is replacing the multiple indirect tax system with Goods and Services Tax (GST). GST is one of the biggest tax reforms in the history of Indian taxation. It impacted significantly almost all sectors of the economy. GST has also significantly impacted automobile industry. An attempt is made in this study to examine the impact of GST on production, sales, exports, registrations, crude oil imports, and FDI inflows to automobile and petroleum, and natural gas sectors. It is found that there are no significant differences in production, sales, FDI inflows to automobile sector after implementation of GST. However, it is noticed that there is a significant increase in the registrations and exports of automobiles after the GST implementation.
{"title":"Analysis of Goods and Services Tax (GST) impact on Indian Automobile Industry","authors":"B. Nayaka","doi":"10.2139/ssrn.3851580","DOIUrl":"https://doi.org/10.2139/ssrn.3851580","url":null,"abstract":"Indian automobile industry is one of the fast-growing industries in the world. It contributes significantly to global value chain. Growth of automobile industry is highly correlated with the development of other sectors in the economy. India is the world’s largest producer of heavy motor vehicles. The share of automobile sector in GDP is 7.1 percent and provides employment opportunities to over 35 million people and its share in total exports is 4.3 percent (Invest India, 2020). Increasing population and growth in per capita income have provided stimulus for growth of Indian automobile industry. The government of India envisioned to make India a manufacturing hub of automobiles; it brought many initiatives to make India an attractive destination for automotive companies. Among the initiatives taken by the government, the most important one is replacing the multiple indirect tax system with Goods and Services Tax (GST). GST is one of the biggest tax reforms in the history of Indian taxation. It impacted significantly almost all sectors of the economy. GST has also significantly impacted automobile industry. An attempt is made in this study to examine the impact of GST on production, sales, exports, registrations, crude oil imports, and FDI inflows to automobile and petroleum, and natural gas sectors. It is found that there are no significant differences in production, sales, FDI inflows to automobile sector after implementation of GST. However, it is noticed that there is a significant increase in the registrations and exports of automobiles after the GST implementation.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129331737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The spread of the pandemic and the consequent adoption of lockdown measures to prevent infections had severe consequences for business activity and employment. By using data from the Italian Labour Force Survey, this paper simulates the effect of the COVID-19 crisis on the dynamics and distribution of equivalized labour income in the first two quarters of 2020. Moreover, it assesses the effectiveness in smoothing labour income losses of the social insurance benefits that were in place before the crisis and of the temporary measures adopted by the Italian Government to face it. We find that the economic repercussions of the COVID-19 shock impacted low-income households more heavily than higher income families, implying a substantial increase in labour income inequality. However, our results show that the social insurance benefits temporarily introduced by the Italian Government were able, at least in the short term, to compensate for these income losses and for the increased inequality significantly more than the pre-crisis measures.
{"title":"The Impact of the COVID-19 Shock on Labour Income Inequality: Evidence from Italy","authors":"F. Carta, Marta de Philippis","doi":"10.2139/ssrn.3828129","DOIUrl":"https://doi.org/10.2139/ssrn.3828129","url":null,"abstract":"The spread of the pandemic and the consequent adoption of lockdown measures to prevent infections had severe consequences for business activity and employment. By using data from the Italian Labour Force Survey, this paper simulates the effect of the COVID-19 crisis on the dynamics and distribution of equivalized labour income in the first two quarters of 2020. Moreover, it assesses the effectiveness in smoothing labour income losses of the social insurance benefits that were in place before the crisis and of the temporary measures adopted by the Italian Government to face it. We find that the economic repercussions of the COVID-19 shock impacted low-income households more heavily than higher income families, implying a substantial increase in labour income inequality. However, our results show that the social insurance benefits temporarily introduced by the Italian Government were able, at least in the short term, to compensate for these income losses and for the increased inequality significantly more than the pre-crisis measures.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132730285","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Bischof, P. Dörrenberg, Davud Rostam‐Afschar, Dirk Simons, Johannes Voget
We introduce the German Business Panel (GBP), a novel large-scale survey of German firms. The GBP periodically surveys executives and key decision-makers in a representative sample of German firms, taking stock of their perceptions, views, and expectations. A particular focus of the survey is on the role of accounting and tax regulation for companies. We present findings from the first wave of the GBP which was in the field over the summer 2020 and addressed the consequences of the Covid-19 pandemic for companies in Germany. Relying on more than 10,000 complete responses, we disentangle how the economic impact of COVID-19 hits industries with varying intensity. We also document that state aid was insufficient for the hardest-hit firms. As a consequence, firms systematically took additional measures like cost-cutting or reducing cash outflows. The state interventions did not lead to managers expecting a substantial increase in future tax rates. We conclude by providing an outlook on how researchers can access and use the survey data for their own research questions.
{"title":"The German Business Panel: Insights on Corporate Taxation and Accounting during the COVID-19 Pandemic","authors":"J. Bischof, P. Dörrenberg, Davud Rostam‐Afschar, Dirk Simons, Johannes Voget","doi":"10.2139/ssrn.3777306","DOIUrl":"https://doi.org/10.2139/ssrn.3777306","url":null,"abstract":"We introduce the German Business Panel (GBP), a novel large-scale survey of German firms. The GBP periodically surveys executives and key decision-makers in a representative sample of German firms, taking stock of their perceptions, views, and expectations. A particular focus of the survey is on the role of accounting and tax regulation for companies. We present findings from the first wave of the GBP which was in the field over the summer 2020 and addressed the consequences of the Covid-19 pandemic for companies in Germany. Relying on more than 10,000 complete responses, we disentangle how the economic impact of COVID-19 hits industries with varying intensity. We also document that state aid was insufficient for the hardest-hit firms. As a consequence, firms systematically took additional measures like cost-cutting or reducing cash outflows. The state interventions did not lead to managers expecting a substantial increase in future tax rates. We conclude by providing an outlook on how researchers can access and use the survey data for their own research questions.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127632403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Wenngleich die okonomischen Argumente fur die Einfuhrung einer CO2-Bepreisung uberzeugend sind, ist die offentliche Unterstutzung dafur gering. Mittels eines Discrete-Choice Experimentes und einer Stichprobe von 6.000 deutschen Haushaltsvorstanden untersuchen wir in diesem Artikel, wie Fairnesspraferenzen die Unterstutzung fur eine CO2-Bepreisung bei unterschiedlicher Verwendung der Einnahmen beeinflussen. Wir finden, dass jene Befragte, die die Einnahmen fur die Forderung erneuerbarer Energie- und Verkehrsinfrastruktur verwenden mochten, eine CO2-Bepreisung eher unterstutzen. Deren Unterstutzung sinkt allerdings besonders stark bei hoheren Steuersatzen, im Gegensatz zu Befragten, die eine Ruckzahlung fur einkommensschwache Haushalte befurworten. Betrachten wir ausschlieslich direkte Formen der Umverteilung der Einnahmen an die Bevolkerung, zeigt sich, dass die Befragten Pro-Kopf-Zahlungen gegenuber Zahlungen an die Armsten oder am starksten Betroffenen bevorzugen. Unsere Ergebnisse haben Auswirkungen auf die Akzeptanz einer CO2-Bepreisung, da die Unterstutzung fur diese wesentlich erhoht werden kann, wenn sie nach den Fairnesspraferenzen der Burger gestaltet wird.
{"title":"Supporting Carbon Taxes: The Role of Fairness","authors":"Stephan Sommer, Linus Mattauch, M. Pahle","doi":"10.2139/ssrn.3707644","DOIUrl":"https://doi.org/10.2139/ssrn.3707644","url":null,"abstract":"Wenngleich die okonomischen Argumente fur die Einfuhrung einer CO2-Bepreisung uberzeugend sind, ist die offentliche Unterstutzung dafur gering. Mittels eines Discrete-Choice Experimentes und einer Stichprobe von 6.000 deutschen Haushaltsvorstanden untersuchen wir in diesem Artikel, wie Fairnesspraferenzen die Unterstutzung fur eine CO2-Bepreisung bei unterschiedlicher Verwendung der Einnahmen beeinflussen. Wir finden, dass jene Befragte, die die Einnahmen fur die Forderung erneuerbarer Energie- und Verkehrsinfrastruktur verwenden mochten, eine CO2-Bepreisung eher unterstutzen. Deren Unterstutzung sinkt allerdings besonders stark bei hoheren Steuersatzen, im Gegensatz zu Befragten, die eine Ruckzahlung fur einkommensschwache Haushalte befurworten. Betrachten wir ausschlieslich direkte Formen der Umverteilung der Einnahmen an die Bevolkerung, zeigt sich, dass die Befragten Pro-Kopf-Zahlungen gegenuber Zahlungen an die Armsten oder am starksten Betroffenen bevorzugen. Unsere Ergebnisse haben Auswirkungen auf die Akzeptanz einer CO2-Bepreisung, da die Unterstutzung fur diese wesentlich erhoht werden kann, wenn sie nach den Fairnesspraferenzen der Burger gestaltet wird.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130081931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper evaluates the macroeconomic impact on the euro area (EA) of the imposition of tariffs by simulating a multi-country New Keynesian model featuring the effective lower bound (ELB) on the EA monetary policy rate. The main results are as follows. First, the bilateral tariff dispute between the United States (US) and China (CH) has positive spillovers on the EA economy, because of favorable trade diversion effects. Second, simultaneous tariff increases between the US and CH and between the US and EA have negative effects on euro-area GDP and (ex-tariff) inflation. The effects are magnified if the ELB binds in the EA. Third, if the elasticity of substitution among tradables is low, the spillovers on euro-area GDP of US-CH trade tensions are negligible if the ELB is not binding, while they become negative if the ELB binds.
{"title":"Protectionism and the Effective Lower Bound in the Euro Area","authors":"Pietro Cova, A. Notarpietro, M. Pisani","doi":"10.2139/ssrn.3680561","DOIUrl":"https://doi.org/10.2139/ssrn.3680561","url":null,"abstract":"This paper evaluates the macroeconomic impact on the euro area (EA) of the imposition of tariffs by simulating a multi-country New Keynesian model featuring the effective lower bound (ELB) on the EA monetary policy rate. The main results are as follows. First, the bilateral tariff dispute between the United States (US) and China (CH) has positive spillovers on the EA economy, because of favorable trade diversion effects. Second, simultaneous tariff increases between the US and CH and between the US and EA have negative effects on euro-area GDP and (ex-tariff) inflation. The effects are magnified if the ELB binds in the EA. Third, if the elasticity of substitution among tradables is low, the spillovers on euro-area GDP of US-CH trade tensions are negligible if the ELB is not binding, while they become negative if the ELB binds.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129229050","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A major advantage of being an European Union (EU) citizen is that as a citizen, you have the right to move freely from one-member state to another. The concept of free movement of persons, is one of the four freedoms of the single market and a fundamental right of EU citizens. A citizen can therefore move across the all member states for several reasons, such as holiday visit, reunion with family members or job search.
The purpose of this paper is to evaluate how bilateral double tax treaties may affect the mobility of EU workers, based on the free movement principle. This will be achieved by firstly discussing the limitations caused by the DTT and secondly, supporting the previous discussion using case analysis.
{"title":"Analyzing the Interaction Between Double Taxation Treaties (DTT) and Workers Mobility Within the European Union (EU)","authors":"Munachiso Ogu-Jude","doi":"10.2139/ssrn.3630599","DOIUrl":"https://doi.org/10.2139/ssrn.3630599","url":null,"abstract":"A major advantage of being an European Union (EU) citizen is that as a citizen, you have the right to move freely from one-member state to another. The concept of free movement of persons, is one of the four freedoms of the single market and a fundamental right of EU citizens. A citizen can therefore move across the all member states for several reasons, such as holiday visit, reunion with family members or job search. <br><br>The purpose of this paper is to evaluate how bilateral double tax treaties may affect the mobility of EU workers, based on the free movement principle. This will be achieved by firstly discussing the limitations caused by the DTT and secondly, supporting the previous discussion using case analysis.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115776584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The optimal labor income taxation problem is cast in the context of the Polish economy. We use the actual Polish data on labor income and the corresponding tax revenue provided by the Polish Tax Authority to calibrate the optimal taxation Problem of Mirrlees to the Polish data. We solve the optimal taxation problem in a variety of contexts using numerical techniques. We provide solutions to the optimal labor income taxation problem, examine the sensitivity to the underlying parameters. In general, our numerical results confirm that the solutions are affected, in particular, by the elasticity of labor supply with respect to the wage, and by the preferences of policy makers. Still, in the qualitative sense the optimal marginal tax rates normally take the form of an inverted U-shaped curve when depicted in terms of income earned. We establish that the quantitative results are sensitive to the underlying parameters. In one extreme, the optimum calls for high optimal marginal tax rates reaching nearly 75% for moderate income levels when the elasticity of labor supply is low and the degree of aversion towards inequality is high. On the other hand the optimal marginal tax rates can be low for moderate income levels when the elasticity of labor supply with respect to the wage is high and when the aversion towards inequality is low. In addition, we show that marginal tax rates at low income levels can be high, which is supposed to encourage higher labor supply by low earners. Finally, our solutions reveal that universal basic income is a part of the optimum regardless of the values of the underlying parameters.
{"title":"Practical Solutions to the Problem of Mirrlees - Optimal Labor Income Taxation in Poland","authors":"M. Dudek","doi":"10.2139/ssrn.3621764","DOIUrl":"https://doi.org/10.2139/ssrn.3621764","url":null,"abstract":"The optimal labor income taxation problem is cast in the context of the Polish economy. We use the actual Polish data on labor income and the corresponding tax revenue provided by the Polish Tax Authority to calibrate the optimal taxation Problem of Mirrlees to the Polish data. We solve the optimal taxation problem in a variety of contexts using numerical techniques. We provide solutions to the optimal labor income taxation problem, examine the sensitivity to the underlying parameters. In general, our numerical results confirm that the solutions are affected, in particular, by the elasticity of labor supply with respect to the wage, and by the preferences of policy makers. Still, in the qualitative sense the optimal marginal tax rates normally take the form of an inverted U-shaped curve when depicted in terms of income earned. We establish that the quantitative results are sensitive to the underlying parameters. In one extreme, the optimum calls for high optimal marginal tax rates reaching nearly 75% for moderate income levels when the elasticity of labor supply is low and the degree of aversion towards inequality is high. On the other hand the optimal marginal tax rates can be low for moderate income levels when the elasticity of labor supply with respect to the wage is high and when the aversion towards inequality is low. In addition, we show that marginal tax rates at low income levels can be high, which is supposed to encourage higher labor supply by low earners. Finally, our solutions reveal that universal basic income is a part of the optimum regardless of the values of the underlying parameters.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125890927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the effect of a move from joint to individual taxation system using 2,276 couple household living in Luxembourg. We estimate simultaneously labour supply and social assistance (RMG) participation, exploiting a discrete choice model. We focus on the distributional, work (extensive and intensive margin) incentive, and the social welfare effect of introducing a mandatory individual taxation system in Luxembourg. The work incentive of married women increases by 2.27% in intensive margin and 2.58% in extensive margin after the reform. The incentive of married men is almost zero. Equivalised disposable income, after the behavioural adjustment, decreases on average 2.1 per cent. After adjustments to direct and indirect taxes, the net revenue-neutral result is a budget surplus for the central government of around €10 million.
{"title":"Making the Switch From Joint to Individual Taxation in Luxembourg. Cost, Behavioural Response and Welfare Effects","authors":"N. Islam, Karina Doorley, Lennart Flood","doi":"10.2139/ssrn.3593263","DOIUrl":"https://doi.org/10.2139/ssrn.3593263","url":null,"abstract":"We study the effect of a move from joint to individual taxation system using 2,276 couple household living in Luxembourg. We estimate simultaneously labour supply and social assistance (RMG) participation, exploiting a discrete choice model. We focus on the distributional, work (extensive and intensive margin) incentive, and the social welfare effect of introducing a mandatory individual taxation system in Luxembourg. The work incentive of married women increases by 2.27% in intensive margin and 2.58% in extensive margin after the reform. The incentive of married men is almost zero. Equivalised disposable income, after the behavioural adjustment, decreases on average 2.1 per cent. After adjustments to direct and indirect taxes, the net revenue-neutral result is a budget surplus for the central government of around €10 million.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133701381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We examine stock prices and the number of stocks traded around ex-dividend dates of German stocks with tax-free dividend. Tax-free dividends are temporarily tax-exempt, as they reduce the initial purchasing price of a stock. With our analysis of this particular group of German stocks, we can make clear predictions regarding ex-date prices and analyze the number of stocks traded around ex-dates, doing so without the systematic bias of cum-ex trades over time. For XETRA, our empirical results indicate that ex-date prices decline, on average, by the amount of the dividend. We do not find a significant relationship between a stock’s price-drop ratio and dividend yield. Further, the empirical analysis suggests that there is no significant correlation between an abnormal number of a stock being traded and its dividend yield. These results are most consistent with tax-motivated reasoning. However, our volume analysis reveals no consistency regarding the abnormal number of stocks traded for multilateral trading facilities.
{"title":"Stock-Market Behavior on Ex-Dates: New Insights from German Stocks with Tax-Free Dividend","authors":"Felix Kreidl","doi":"10.3390/IJFS8030058","DOIUrl":"https://doi.org/10.3390/IJFS8030058","url":null,"abstract":"We examine stock prices and the number of stocks traded around ex-dividend dates of German stocks with tax-free dividend. Tax-free dividends are temporarily tax-exempt, as they reduce the initial purchasing price of a stock. With our analysis of this particular group of German stocks, we can make clear predictions regarding ex-date prices and analyze the number of stocks traded around ex-dates, doing so without the systematic bias of cum-ex trades over time. For XETRA, our empirical results indicate that ex-date prices decline, on average, by the amount of the dividend. We do not find a significant relationship between a stock’s price-drop ratio and dividend yield. Further, the empirical analysis suggests that there is no significant correlation between an abnormal number of a stock being traded and its dividend yield. These results are most consistent with tax-motivated reasoning. However, our volume analysis reveals no consistency regarding the abnormal number of stocks traded for multilateral trading facilities.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130372113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The topic of the EU VAT treatment of the issue, acquisition, holding and sale of shares has become a rather complicated subject matter over the last thirty years. There is a vast body of CJEU case law on the VAT consequences of the acquisition, holding and sale of shares. This case law contains crucial ambiguities in its very fundamentals, causing serious legal uncertainty among businesses. Determining the VAT consequences of dealings in shares has become one of the most complex topics in the field of VAT, particularly when it comes to determining the right of deduction. In this paper, the author takes an integrated look at the VAT aspects of dealings in shares and other securities, providing as much clarity where possible, while still recognizing the ambiguities in the case law of the CJEU.
{"title":"The EU VAT Treatment of Shares and Other Securities","authors":"Ad van Doesum","doi":"10.2139/ssrn.3561536","DOIUrl":"https://doi.org/10.2139/ssrn.3561536","url":null,"abstract":"The topic of the EU VAT treatment of the issue, acquisition, holding and sale of shares has become a rather complicated subject matter over the last thirty years. There is a vast body of CJEU case law on the VAT consequences of the acquisition, holding and sale of shares. This case law contains crucial ambiguities in its very fundamentals, causing serious legal uncertainty among businesses. Determining the VAT consequences of dealings in shares has become one of the most complex topics in the field of VAT, particularly when it comes to determining the right of deduction. In this paper, the author takes an integrated look at the VAT aspects of dealings in shares and other securities, providing as much clarity where possible, while still recognizing the ambiguities in the case law of the CJEU.","PeriodicalId":105680,"journal":{"name":"ERN: Taxation","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123102064","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：