The European Court of Justice has confirmed the compatibility of transfer pricing adjustments under the arm's length standard in its "SGI" judgment. In this decision, the ECJ has stated that transfer pricing control is justified as a means to fight "artificial arrangements" while commercially...

More and more countries offer tax benefits to attract wealthy individuals and sought-after experts.Under these regimes, mobile individuals are not subject to worldwide taxation on income and wealth any more. As many source countries waive their territorial taxing rights in order to attract...

International tax coordination has reached impressive results after the turn of the century. Multi-lateral agreements like the Common Reporting Standard or the BEPS Action Plan are clear signs of the willingness of a large number of states to cooperate in fiscal matters at a global scale....

This article argues that in analysing the efficiency of the German legal capital rules, it is helpful to distinguish carefully between three different aspects: the question of whether the law should impose a minimum legal capital requirement, the relevance of provisions in the articles of...

European Company Law requires both closely-held and listed companies to disclose their financial situation (annual accounts) to the general public. The European Court of Justice has recently decided that also competitors of a company are in the position to enforce this obligation. This gives...

In two recent cases “T Danmark” and “N Luxembourg 1” the European Court of Justice delivered landmark judgments on the impact of the concept of “abuse of law” in the area of taxation. In these judgments the Court promoted the recurrent notion that “European law cannot be relied...

This paper is a draft chapter of a forthcoming book on the taxation of international business profit by the authors of this paper, to be published by Oxford University Press. The group has been meeting regularly for five years, to identify and discuss the key problems of the existing...

State aid discipline under Art.107, 108 TFEU has established itself as a major constraint to the tax sovereignty of national legislators. By analyzing a great number of CJEU judgments delivered during the last five years, this article lays out both the conceptual and the political issues which...

The financial crisis has generated a high degree of legislative activity both in the area of substantive and procedural financial regulation and in the area of taxation of the financial sector. This article explores criteria for legislative choice (in particular for the European Union) when a...

This article presents a comparative analysis of the very different ways tax law scholarship is understood and performed in two major jurisdictions: the United States and Germany. While U.S. tax scholarship is dominated by "legal realism", interdisciplinary work and major contributions to...