The notion of income from capital:
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| Format: | Conference Proceeding Book |
| Language: | English |
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[Amsterdam]
IBFD
[2005]
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| Series: | EATLP international tax series
Volume 1 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | xxvi, 338 Seiten |
| ISBN: | 9076078815 |
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| 245 | 1 | 0 | |a The notion of income from capital |c Editors: Peter Essers and Arie Rijkers |
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THE NOTION OF INCOME FROM CAPITAL EATLP CONGRESS, COLOGNE 12-14 JUNE
2003 EDITORS: PETER ESSERS AND ARIE RIJKERS GENERAL REPORTERS: PROF.
PETER ESSERS AND PROF. ARIE RIJKERS, TILBURG UNIVERSITY, THE NETHERLANDS
CONTRIBUTORS: PROF. HENK VAN ARENDONK, UNIVERSITY OF ROTTERDAM, THE
NETHERLANDS PROF. LAURA CASTALDI, UNIVERSITY OF SIENA, ITALY PROF.
JUDITH FREEDMAN, UNIVERSITY OF OXFORD, UNITED KINGDOM PROF. WOLFGANG
GASSNER (UNIVERSITY OF BUSINESS ADMINISTRATION VIENNA, AUSTRIA) PROF.
DANIEL GUTMANN, UNIVERSITY PARIS-1 PANTHEON-SORBONNE, FRANCE DR. KEVIN
HOLMES, UNIVERSITY OF BUDAPEST, HUNGARY PROF. PETER KAVELAARS,
UNIVERSITY OF ROTTERDAM, THE NETHERLANDS PROF. JOACHIM LANG, UNIVERSITY
OF COLOGNE, GERMANY PROF. LEIF MUTEN, STOCKHOLM SCHOOL OF ECONOMICS,
SWEDEN PROF. MANFRED ROSE, UNIVERSITY OF HEIDELBERG, GERMANY DR. IAN
ROXAN, LONDON SCHOOL OF ECONOMICS, UNITED KINGDOM PROF. CLAUDIO
SACCHETTO, UNIVERSITY OF TURIN, ITALY PROF. ALAIN STEICHEN, UNIVERSITY
OF LUXEMBOURG, LUXEMBOURG PROF. BERTIL WIMAN, STOCKHOLM SCHOOL OF
ECONOMICS, SWEDEN IBFD VOLUME 1 . EATLP INTERNATIONAL TAX SERIES TABLE
OF CONTENTS PREFACE XIX ABOUT THE AUTHORS XXI INTRODUCTION XXII I PETER
ESSERS AND ARIE RIJKERS PARTA GENERAL ASPECTS OF AN INCOME TAXATION ON
INCOME FROM CAPITAL CHAPTER I: THE INFLUENCE OF TAX PRINCIPLES ON THE
TAXATION OF INCOME FROM CAPITAL 3 JOACHIM LANG 1. INTRODUCTION 3 2. THE
FRAMEWORK OF TAX PRINCIPLES IN THE CONSTITUTIONAL AND THE EUROPEAN LAW 4
2.1. TAX EQUITY AND EQUALITY 4 2.2. CERTAINTY 4 2.3. RIGHT TO PROPERTY 5
2.4. RIGHTSOFTHEFAMILY 7 2.5. THEFOURFREEDOMSOFTHEECTREATY 7 3. SPECIFIC
TAX PRINCIPLES TO DETERMINE THE INCOME 8 3.1. ABILITYTOPAY 8 3.2.
INDIVIDUAL TAXATION 13 3.3. REAL INCOME VERSUS INFLATIONARY GAINS AND
FICTITIOUS INCOME 14 3.4. NET INCOME 15 3.5. NON-DISPOSAL INCOME 16 3.6.
EFFICIENCY OF TAXATION: FISCAL NEUTRALITY AND SIMPLICITY 17 3.7.
PERIODICITY 17 TABLE OF CONTENTS 4. THEORIES AND METHODS TO DETERMINE
THE INCOME 18 4.1. THE HISTORICAL DEBATE: NET ACCRETION THEORY VERSUS
SOURCE THEORY 18 4.2. THE PRESENT DEBATE: ACCRUAL METHOD VERSUS CASH
FLOW METHOD 21 5. NOTION OF INCOME TOWARDS A CASH FLOW INCOME TAX? 24
5.1. THE PHENOMENON OF A HYBRID INCOME TAXATION 24 5.2. SCHEDULAR OR
GLOBAL INCOME TAXATION? 26 5.3. TWO ESSENTIALS OF THE INCOME FROM
CAPITAL 28 5.3.1. TAXATION OF PENSION SCHEMES 28 5.3.2. TREATMENT OF
CAPITAL GAINS AND LOSSES 29 6. CONCLUSIONS 30 CHAPTER IA: THE INFLUENCE
OF TAX PRINCIPLES ON THE TAXATION OF INCOME FROM CAPITAL - A RESPONSE 33
WOLFGANG GASSNER 1. INTRODUCTION 33 2. ECONOMIC THEORY AND THE NOTION OF
INCOME 34 2.1. NOTION OF INCOME AS A MULTIDISCIPLINARY ISSUE 34 2.2.
ECONOMIC THEORY AND LEGAL DEFINITION OF INCOME 34 3. FOUNDATION CONCEPT
OF INCOME AND TAX LEGISLATION 36 3.1. SCHANZ-HAIG-SIMONS MODEL AS
"SUPERIOR TO OTHER MODEIS" 36 3.2. GLOBAL INCOME TAX AS A "MATTER OF
FAIRNESS" 36 3.3. CREATION OF "GENERALLY ACCEPTED INCOME DEFINITION" BY
SCHOLARS 38 3.4. INCOME TAX BASE WITH A "NON POLITICAL CHARACTER" 39 4.
TAX PRINCIPLES AND THEIR INFLUENCE ON THE NOTION OF INCOME 40 4.1. THE
HIGH ESTEEM FOR THE ABILITY-TO-PAY PRINCIPLE 40 4.2. THE "FEATURES" OF
THE ABILITY-TO-PAY PRINCIPLE 42 4.2.1. "LIFETIME NOTION OF INCOME" 42
4.2.2. "REAL AND REALISTIC INCOME" 42 VI TABLE OF CONTENTS 4.2.3.
"GLOBAL INCOME" 43 4.2.4. "REPRESENTING NEW POWER" 43 4.3. "GUIDANCE
GIVEN" BY THE ABILITY-TO-PAY PRINCIPLE 43 4.4. THE CONTEXT OF THE
ABILITY-TO-PAY PRINCIPLE 44 4.5. THE TREE OF PRINCIPLES IN TAX
METHODOLOGY 45 5. THE NOTION OF INCOME FROM CAPITAL 46 5.1. "INCOME TAX
BASE OUGHT TO BE REDUCED TO THE MARKET INCOME" 47 5.2. "LIFETIME INCOME
IS THE RIGHT MEASURE OF ABILITY TO PAY" 47 5.3. "BASICALLY FICTITIOUS OR
DEEMED INCOME SHOULD NOT BE PART OF THE INCOME TAX" 47 5.4. "THE NET
PRINCIPLE DEMANDS THE FUELL DEDUCTION OF COSTS AND LOSSES" 48 5.5. "THE
CONCEPT OF THE LIFETIME ABILITY TO PAY DEMANDS A CASH FLOW NOTION OF
INCOME" 49 5.6. "IN THE LONG RUN THE NOTION OF INCOME SHOULD MOVE
TOWARDS A CASH FLOW INCOME TAX" 49 5.7. "SPLITTING RULES CONSIDER THE
DISTRIBUTION OF INCOME AMONG SPOUSES AND OTHER FAMILY MEMBERS IN
ACCORDANCE WITH THE INDIVIDUAL TAXATION RULE" 50 5.8. "FINALLY THE
NON-DISPOSAL INCOME OUGHT TO BE EXCLUDED FROM THE TAX BASE" 50 6.
REALISM VERSUS UTOPISM IN LEGAL TAX THEORY 51 7. FINAL REMARKS 52
CHAPTERLL: ECONOMIC ASPCCTS OF TAXATION OF INCOME FROM CAPITAL 53
MANFRED ROSE 1. FACTORS DETERMINING THE DEFINITION OF TAXABLE INCOME
FROM AN ECONOMIC STANDPOINT 53 2. THE TECHNICAL NOTION OF YEARLY INCOME
AS A GUIDELINE FOR THE NOTION OF TAXABLE INCOME - THE TRADITIONAL
APPROACH 58 VU TABLE OF CONTENTS 3. 4. 5. 6. 7. THE ECONOMIC NOTION OF
LIFETIME INCOME AS A GUIDELINE FOR THE NOTION OF TAXABLE INCOME 3.1. THE
CITIZEN'S LIFETIME INCOME FROM AN ECONOMIC STANDPOINT 3.2. THE NOTION OF
TAXABLE INCOME CORRESPONDING TO THE NOTION OF LIFETIME INCOME 3.2.1. THE
SEGREGATION OF INCOME ELEMENTS THAT HAVE ALREADY BEEN BURDENED AND THAT
WILL BE TAXED AT SOME TIME IN THE FUTURE 3.2.2. THE SEGREGATION OF
TRANSFER INCOMES EVALUATION OF ALTERNATIVE SYSTEMS OF TAXING LIFETIME
INCOME 4.1. DECISION NEUTRALITY 4.2. ADMINISTRATIVE EFFICIENCY 4.3.
TAXATION VERSUS TAX BURDENING THE SIMPLEST METHOD OF TAXING LIFETIME
INCOME SUMMARY REFERENCES 62 62 63 63 66 68 68 70 70 72 75 76 CHAPTER
III: RELATIONSHIP BETWEEN PERSONAL INCOME TAX ON INCOME FROM CAPITAL AND
OTHER TAXES ON INCOME FROM CAPITAL (CORPORATE INCOME TAX, WEALTH TAX,
INHERITANCE AND GIFT TAX AND REAL-ESTATE TAX) 77 CLAUDIO SACCHETTO AND
LAURA CASTALDI 1. THE COMBINATION OF PERSONAL INCOME TAX AND WEALTH TAX
77 1.1. DOES THE COMBINATION OF PERSONAL INCOME TAX ON CAPITAL PROCEEDS
AND A WEALTH TAX CAUSE DOUBLE TAXATION? 77 1.2. THE TREND OF DEVELOPING
FISCAL SYSTEMS IN WHICH INCOME TAXES AND WEALTH TAXES COEXIST 79 1.3.
THE DEGREE OF ACCEPTABILITY OF A TAX SYSTEM DEVELOPING A PERIODICAL
ORDINARY DIRECT TAX ON INCOME/ CAPITAL PROCEEDS AND OTHER TAXES ON
CAPITAL/WEALTH 80 TABLE OF CONTENTS 2. INCOME TAXES; TAXING THE PROCEEDS
OF THE USE OF CAPITAL IN THE LIGHT OF INCOME TAX: THE PRINCIPLES 83 3.
TAXATION OF INCOME FROM CAPITAL 86 3.1. THE INCOME TAX ON THE PROCEEDS
COMING FROM CAPITAL GAINS AND THE EXAMPLES OF POSSIBLE DOUBLE OBJECTIVE
TAX 86 3.2. SHOULD CAPITAL GAINS BE CONSIDERED AS CAPITAL INCOME (I.E.
REVENUES FROM THE USE OF CAPITAL)? 88 3.3. POSSIBLE CASES OF DOUBLE
INCOME TAX COMING FROM THE INCORPORATION OF PROFITS/INTERESTS IN THE
COMPENSATIONS OF SHARE ASSIGNMENTS 89 4. TAXATION OF DIVIDENDS, CAPITAL
GAINS AND PROFITS OF PARTICIPATIONS 90 4.1. THE PROBLEM OF THE TAX
TREATMENT OF THE PROCEEDS CAUSALLY REFERRING TO PARTICIPATION IN
ASSOCIATIONS, WHEN THE LATTER ARE ALREADY SUBJECT TO INCOME TAX 90 4.2.
THE POSSIBILITY THAT THE TAX TREATMENT OF THE PROCEEDS COMING FROM (AND
FOR THE EFFECT OF) PARTICIPATING RELATIONS MUST BE SEPARATED ACCORDING
TO THE LUCRATIVE AND NON-LUCRATIVE CAUSAL OF THE CONNOTATION OF THE
PARTICIPATION BOND 91 4.3. THE POSSIBILITY THAT THE ACTUAL PROBLEM OF
SUBJECT DOUBLE IMPOSITION OF GROUP INCOMES REFERS SOLELY TO THE INCOMES
COMING FROM PARTICIPATIONS, IN REFERENCE TO ASSOCIATIONS IN WHICH THE
PARTICIPATION CONNOTES CAUSALLY FOR THE PURSUIT OF THE SINGLE MEMBERS'
LUCRATIVE AIMS 92 4.4. POSSIBLE JUSTIFICATIONS OF DOUBLE INCOME TAX ON
COMPANY REVENUES 92 4.5. SOLUTIONS TO ELIMINATE/DECREASE DOUBLE TAX ON
COMPANY REVENUES 94 TABLE OF CONTENTS CHAPTER IIIA:RELATIONSHIP BETWEEN
PERSONAL INCOME TAX ON INCOME FROM CAPITAL AND OTHER TAXES ON INCOME
FROM CAPITAL (CORPORATE INCOME TAX, WEALTH TAX, INHERITANCE AND GIFT TAX
AND REAL-ESTATE TAX) - A RESPONSE 97 DANIEL GUTMANN CHAPTER IV: FIXED
AMOUNT TAXATION WITH RESPECT TO INCOME FROM CAPITAL IN PERSONAL INCOME
TAXATION HENK VAN ARENDONK 1. 2. 3. 4. 5. 6. INTRODUCTION THEORETICAL
FRAMEWORK THE PRACTICE OF FIXED AMOUNT SCHEMES 3.1. NOTIONAL RENTAL
VALUE FOR OWNER-OCCUPIERS 3.2. BARE OWNERSHIP/USUFRUCT SITUATIONS 3.3.
INCOME FOREIGN INVESTMENT COMPANIES 3.4. FIXED AMOUNT RETURN FOR SAVING
AND INVESTING KINDS OF FIXED AMOUNT SCHEMES FIXED AMOUNT SCHEMES AND THE
THEORETICAL FRAMEWORK SOME IMPORTANT ISSUES 103 103 104 106 106 107 108
110 111 114 122 PARTB THE NOTION OF INCOME FROM CAPITAL: THE TAXABLE
BASE CHAPTER I: ACCRUAL VERSUS REALIZATION 127 PETER KAVELAARS 1.
INTRODUCTION 127 2. (ANNUAL) VALUATION 128 TABLE OF CONTENTS 3.
LIQUIDITY: HOW TO PAY TAX? 130 4. LOSSES 134 5. MIGRATION 135 6. TREATY
ASPECTS 137 7. INFLATION 140 8. SOME SPECIAL SITUATIONS 140 8.1. DEATH
140 8.2. GIFTS 141 8.3. DIVORCE 141 8.4. MERGERS AND SPLITS 142 9.
CLOSING CONSIDERATIONS 143 CHAPTER II: DEFERRAL POSSIBILITIES 147 KEVIN
HOLMES 1. INTRODUCTION 147 2. MEANING OF DEFERRAL 148 3. TAX POLICY AND
DEFERRAL 151 4. DEFERRAL MECHANISMS IN SELECTED JURISDICTIONS OF THE NEW
EUROPE 157 4.1. DEFERRAL OF RECOGNITION OF DIVIDEND INCOME 158 4.2.
DEFERRAL OF RECOGNITION OF INTEREST INCOME 159 4.3. DEFERRAL OF
RECOGNITION OF RENTAL INCOME 160 4.4. DEFERRAL OF RECOGNITION OF ROYALTY
INCOME 163 4.5. DEFERRAL OF RECOGNITION OF CAPITAL GAIN 164 4.6.
PARTICIPATION EXEMPTIONS 170 4.7. CORPORATE RECONSTRUCTIONS 172 4.8.
CHANGEOFRESIDENTIAL STATUS 173 4.9. CAPITAL LOSSES 174 4.10.
INTRA-FAMILY ARRANGEMENTS 175 XI TABLE OF CONTENTS 5. ANTI-AVOIDANCE
PROVISIONS 178 6. CONCLUSION 179 CHAPTER IIA:DEFERRAL POSSIBILITIES - A
RESPONSE 183 ALAIN STEICHEN 1. CONCEPT OF DEFERRAL OF TAXATION 183 2.
NORMATIVE ASSUMPTIONS 184 3. TWO TYPES OF TAX DEFERRALS 185 4. TAX
DEFERRALS HAVE A COST TO THE TAX REVENUE 186 5. ARE TAX DEFERRAL
PROVISIONS UNJUST? 187 6. TRADE OFF BETWEEN JUSTICE AND EFFICIENCY 187
7. CONCLUSIONS 188 CHAPTER III: TREATMENT OF CAPITAL GAINS AND LOSSES
191 JUDITH FREEDMAN 1. INTRODUCTION: CONCEPTS OF CAPITAL GAINS AND
INCOME 191 2. APPROACHES TO TAXATION OF CAPITAL GAINS AND LOSSES 195
2.1. THREE MODEIS 195 2.2. DISTINGUISHING CAPITAL GAINS FROM OTHER
INCOME GAINS 196 2.3. SPECIAL TREATMENT OF CAPITAL GAINS 197 3.
RATIONALE FOR SPECIAL TREATMENT OF CAPITAL GAINS 198 3.1. QUALITATIVE
DIFFERENCES 198 3.2. ABILITY TO PAY AND EQUITY 200 3.2.1. REALIZATION
VERSUS ACCRUALS BASIS 200 3.2.2. MOVING AWAY FROM REALIZATION - MARKING
TO MARKET AND FOLLOWING THE COMMERCIAL ACCOUNTS 202 TABLE OF CONTENTS
3.2.3. RETAINING REALIZATION BUT REMOVING THE BENEFIT 205 3.2.4.
BUNCHING AND INFLATION 207 3.3. INCENTIVES AND RELIEFS 208 4. LOSSES 210
5. CONCLUSION 212 6. REFERENCES 215 CHAPTER IIIA:TREATMENT OF CAPITAL
GAINS AND LOSSES - A RESPONSE 217 LEIF MUTEN CHAPTER IV: INFLUENCE OF
INFLATION 223 IAN ROXAN 1 . INTRODUCTION 223 2. EFFECTS OF INFLATION ON
TAX REVENUES 224 2.1. FISCALDRAG 224 2.2. COLLECTION EFFECT 225 3.
EFFECTS OF INFLATION ON THE TAX BASE 225 4. INFLATION ADJUSTMENT
MECHANISMS IN USE 227 4.1. PARTIAL ADJUSTMENT 227 4.1.1. CAPITAL GAINS
227 4.1.1.1. AN ILLUSTRATION: THE UNITED KINGDOM 227 4.1.1.2. OTHER
APPROACHES IN EUROPE 230 4.1.2. INTEREST 232 4.1.3. BUSINESS PROFITS 233
4.2. GLOBAL ADJUSTMENT 234 4.3. ADJUSTMENT OF TAX RATE AND ALLOWANCE
THRESHOLDS 237 5. DESIRABILITY OF ADJUSTING INCOME FROM CAPITAL FOR
INFLATION 238 5.1. EQUITY CONSIDERATIONS 238 5.2. EFFICIENCY
CONSIDERATIONS 239 TABLE OF CONTENTS 5.3. ADMINISTRATION COSTS 239 6.
DESIRABILITY OF PARTICULAR INFLATION ADJUSTMENT METHODS 240 6.1.
INDEXATION 240 6.2. INDEXATION FOR SPECIFIC ASSETS 240 6.3. INDEXATION
AND THE REALIZATION BASIS 241 6.4. BUSINESS PROFITS 242 6.5. TAX BASES
THAT EXCLUDE INFLATIONARY RETURNS 243 7. CONCLUSIONS 244 8. REFERENCES
248 CHAPTER V: IMPUTED INCOME (INCLUDING DEDUCTIBLE COSTS) 249 IAN ROXAN
1. IMPUTED INCOME 249 1.1. PROBLEM OF IMPUTED SERVICES FROM ASSETS 249
1.2. IMPUTED INCOME FROM HOUSING 250 1.2.1. PREVALENCE 250 1.2.2.
GROUNDS FOR TAXING IMPUTED RENT 250 1.2.3. MEASURING THE RETURNS ON
HOUSING: RELEVANCE OF EX ANTE AND EX POST RETURNS 251 1.2.4. TAXATION OF
IMPUTED RENT IN EUROPE 253 1.2.5. TAXATION OF CAPITAL GAINS ON PRIVATE
HOUSING 254 1.2.6. CONCLUSION 254 1.3. IMPUTED INCOME ON OTHER ASSETS
255 2. DEEMED INCOME 255 2.1. THE USE OF DEEMED VALUES - TWO CASES 255
2.2. DEEMED VALUES REFLECTING TRUE VALUES 256 2.2.1. NON-ARM'S LENGTH
TRANSFERS 256 2.2.2. DEEMED TRANSACTIONS 257 2.2.3. MEASURE OF DEEMED
VALUE 258 2.3. DEEMED VALUES USED TO IMPLEMENT POLICY OBJECTIVES 259
2.3.1. DEEMED VALUES IN RELIEVING PROVISIONS 259 2.3.2. RESTRICTIVE
DEEMED VALUES 259 XIV TABLE OF CONTENTS 3. CONCLUSION 261 4. REFERENCES
262 CHAPTER VI: EMIGRATION TAXES 263 BERTIL WIMAN 1. INTRODUCTION 263 2.
NATIONAL LAW 267 3. TAX TREATY PERSPECTIVE 268 4. EC LAW PERSPECTIVE 270
5. CONCLUDING REMARKS 275 PARTC GENERAL REPORT PETER ESSERS AND ARIE
RIJKERS 1. INTRODUCTION 281 2. GENERAL ASPECTS OF AN INCOME TAXATION ON
INCOME FROM CAPITAL 281 2.1. THE INFLUENCE OF TAX PRINCIPLES ON THE
TAXATION OF INCOME FROM CAPITAL 281 2.1.1. INCOME TAX AS A MODEL 281
2.1.2. CONCEPT OF INCOME A MULTIDISCIPLINARY ISSUE? 283 2.1.3.
COMPREHENSIVE INCOME TAX 284 2.1.4. THE ABILITY-TO-PAY PRINCIPLE 286
2.1.5. ROBBERY? 291 2.1.6. SCIENCE VERSUS POLITICS 293 2.2. ECONOMIC
ASPECTS OF TAXATION OF INCOME FROM CAPITAL 294 2.2.1. A LIFETIME NOTION
OF INCOME 294 2.2.2. ECONOMIC VERSUS LEGAL APPROACH 295 TABLE OF
CONTENTS 2.3. RELATIONSHIP BETWEEN PERSONAL INCOME TAX ON INCOME FROM
CAPITAL AND OTHER TAXES ON INCOME FROM CAPITAL 296 2.3.1. COMBINATION OF
WEALTH TAX AND PERSONAL INCOME TAX 296 2.3.2. COMBINATION OF CAPITAL
GAINS TAX AND GIFT AND INHERITANCE TAXES 299 2.3.3. COMBINATION OF
PERSONAL INCOME TAX ON DIVIDENDS AND CAPITAL GAINS TAX ON SHARES AND A
CORPORATE INCOME TAX 300 2.4. FIXED AMOUNT TAXATION WITH RESPECT TO
INCOME FROM CAPITAL IN PERSONAL INCOME TAXATION 302 2.4.1. BETWEEN
JUSTICE AND PRACTICABILITY 302 2.4.2. SOLUTIONS 303 2.4.3. DEGRESSIVE
EFFECTIVE TAX RATE 304 2.4.4. DISCUSSION THEMES 305 2.4.4.1. FICTITIOUS
305 2.4.4.2. UNCONSTITUTIONAL? 308 2.4.4.3. HARMONIZATION AND TAX POLICY
309 3. THE NOTION OF INCOME FROM CAPITAL: THE TAXABLE BASE 311 3.1.
ACCRUAL VERSUS REALIZATION 311 3.1.1. IS REALIZATION AN INHERENT PART OF
THE NOTION OF INCOME (FROM CAPITAL)? 311 3.1.2. VALUATION, LIQUIDITY AND
LOCK-IN 312 3.1.3. INTERNATIONAL ASPECTS 315 3.1.4. DISCUSSION 315 3.2.
DEFERRAL POSSIBILITIES 317 3.2.1. THE RAENGE OF DEFERRAL 317 3.2.2.
DEFERRAL AND TAX AVOIDANCE 318 3.2.3. DEFERRAL AND TAX POLICY 319 3.2.4.
LOCK-IN EFFECT 321 3.2.5. LEGAL COMPARISON 322 3.3. TREATMENT OF CAPITAL
GAINS AND LOSSES 322 3.3.1. NORMAL OR SPECIAL INCOME? 322 3.3.2. CAPITAL
LOSSES 324 3.4. INFLUENCE OF INFLATION 325 3.4.1. EQUITY, EFFICIENCY AND
COSTS 325 3.4.2. COMPENSATION MEASURES AND TYPES OF RETURN 325 3.4.3.
ALL OR NOTHING 326 3.4.4. FEASIBLE SYSTEMS 326 3.4.4.1. GLOBAL
ADJUSTMENT 326 XVI TABLE OF CONTENTS 3.4.4.2. DUTCH SYSTEM OF
PRESUMPTIVE RETURN 327 3.4.4.3. A FUND FOR DEDUCTION 328 3.4.5.
CONCLUSION 329 3.5. IMPUTED INCOME 329 3.5.1. OWNER OCCUPIED HOUSING 329
3.5.2. DEEMED VALUES AND TRANSACTIONS 330 3.5.3. DEEMED VALUES FOR
POLICY AND ANTI-AVOIDANCE REASONS 331 3.6. EXIT TAXES 331 3.6.1.
CONFLICT WITH THE ABILITY-TO-PAY PRINCIPLE? 331 3.6.2. TREATY OVERRIDE?
332 3.6.3. EC ASPECTS 333 4. GENERAL CONCLUSIONS 334 |
| adam_txt |
THE NOTION OF INCOME FROM CAPITAL EATLP CONGRESS, COLOGNE 12-14 JUNE
2003 EDITORS: PETER ESSERS AND ARIE RIJKERS GENERAL REPORTERS: PROF.
PETER ESSERS AND PROF. ARIE RIJKERS, TILBURG UNIVERSITY, THE NETHERLANDS
CONTRIBUTORS: PROF. HENK VAN ARENDONK, UNIVERSITY OF ROTTERDAM, THE
NETHERLANDS PROF. LAURA CASTALDI, UNIVERSITY OF SIENA, ITALY PROF.
JUDITH FREEDMAN, UNIVERSITY OF OXFORD, UNITED KINGDOM PROF. WOLFGANG
GASSNER (UNIVERSITY OF BUSINESS ADMINISTRATION VIENNA, AUSTRIA) PROF.
DANIEL GUTMANN, UNIVERSITY PARIS-1 PANTHEON-SORBONNE, FRANCE DR. KEVIN
HOLMES, UNIVERSITY OF BUDAPEST, HUNGARY PROF. PETER KAVELAARS,
UNIVERSITY OF ROTTERDAM, THE NETHERLANDS PROF. JOACHIM LANG, UNIVERSITY
OF COLOGNE, GERMANY PROF. LEIF MUTEN, STOCKHOLM SCHOOL OF ECONOMICS,
SWEDEN PROF. MANFRED ROSE, UNIVERSITY OF HEIDELBERG, GERMANY DR. IAN
ROXAN, LONDON SCHOOL OF ECONOMICS, UNITED KINGDOM PROF. CLAUDIO
SACCHETTO, UNIVERSITY OF TURIN, ITALY PROF. ALAIN STEICHEN, UNIVERSITY
OF LUXEMBOURG, LUXEMBOURG PROF. BERTIL WIMAN, STOCKHOLM SCHOOL OF
ECONOMICS, SWEDEN IBFD VOLUME 1 . EATLP INTERNATIONAL TAX SERIES TABLE
OF CONTENTS PREFACE XIX ABOUT THE AUTHORS XXI INTRODUCTION XXII I PETER
ESSERS AND ARIE RIJKERS PARTA GENERAL ASPECTS OF AN INCOME TAXATION ON
INCOME FROM CAPITAL CHAPTER I: THE INFLUENCE OF TAX PRINCIPLES ON THE
TAXATION OF INCOME FROM CAPITAL 3 JOACHIM LANG 1. INTRODUCTION 3 2. THE
FRAMEWORK OF TAX PRINCIPLES IN THE CONSTITUTIONAL AND THE EUROPEAN LAW 4
2.1. TAX EQUITY AND EQUALITY 4 2.2. CERTAINTY 4 2.3. RIGHT TO PROPERTY 5
2.4. RIGHTSOFTHEFAMILY 7 2.5. THEFOURFREEDOMSOFTHEECTREATY 7 3. SPECIFIC
TAX PRINCIPLES TO DETERMINE THE INCOME 8 3.1. ABILITYTOPAY 8 3.2.
INDIVIDUAL TAXATION 13 3.3. REAL INCOME VERSUS INFLATIONARY GAINS AND
FICTITIOUS INCOME 14 3.4. NET INCOME 15 3.5. NON-DISPOSAL INCOME 16 3.6.
EFFICIENCY OF TAXATION: FISCAL NEUTRALITY AND SIMPLICITY 17 3.7.
PERIODICITY 17 TABLE OF CONTENTS 4. THEORIES AND METHODS TO DETERMINE
THE INCOME 18 4.1. THE HISTORICAL DEBATE: NET ACCRETION THEORY VERSUS
SOURCE THEORY 18 4.2. THE PRESENT DEBATE: ACCRUAL METHOD VERSUS CASH
FLOW METHOD 21 5. NOTION OF INCOME TOWARDS A CASH FLOW INCOME TAX? 24
5.1. THE PHENOMENON OF A HYBRID INCOME TAXATION 24 5.2. SCHEDULAR OR
GLOBAL INCOME TAXATION? 26 5.3. TWO ESSENTIALS OF THE INCOME FROM
CAPITAL 28 5.3.1. TAXATION OF PENSION SCHEMES 28 5.3.2. TREATMENT OF
CAPITAL GAINS AND LOSSES 29 6. CONCLUSIONS 30 CHAPTER IA: THE INFLUENCE
OF TAX PRINCIPLES ON THE TAXATION OF INCOME FROM CAPITAL - A RESPONSE 33
WOLFGANG GASSNER 1. INTRODUCTION 33 2. ECONOMIC THEORY AND THE NOTION OF
INCOME 34 2.1. NOTION OF INCOME AS A MULTIDISCIPLINARY ISSUE 34 2.2.
ECONOMIC THEORY AND LEGAL DEFINITION OF INCOME 34 3. FOUNDATION CONCEPT
OF INCOME AND TAX LEGISLATION 36 3.1. SCHANZ-HAIG-SIMONS MODEL AS
"SUPERIOR TO OTHER MODEIS" 36 3.2. GLOBAL INCOME TAX AS A "MATTER OF
FAIRNESS" 36 3.3. CREATION OF "GENERALLY ACCEPTED INCOME DEFINITION" BY
SCHOLARS 38 3.4. INCOME TAX BASE WITH A "NON POLITICAL CHARACTER" 39 4.
TAX PRINCIPLES AND THEIR INFLUENCE ON THE NOTION OF INCOME 40 4.1. THE
HIGH ESTEEM FOR THE ABILITY-TO-PAY PRINCIPLE 40 4.2. THE "FEATURES" OF
THE ABILITY-TO-PAY PRINCIPLE 42 4.2.1. "LIFETIME NOTION OF INCOME" 42
4.2.2. "REAL AND REALISTIC INCOME" 42 VI TABLE OF CONTENTS 4.2.3.
"GLOBAL INCOME" 43 4.2.4. "REPRESENTING NEW POWER" 43 4.3. "GUIDANCE
GIVEN" BY THE ABILITY-TO-PAY PRINCIPLE 43 4.4. THE CONTEXT OF THE
ABILITY-TO-PAY PRINCIPLE 44 4.5. THE TREE OF PRINCIPLES IN TAX
METHODOLOGY 45 5. THE NOTION OF INCOME FROM CAPITAL 46 5.1. "INCOME TAX
BASE OUGHT TO BE REDUCED TO THE MARKET INCOME" 47 5.2. "LIFETIME INCOME
IS THE RIGHT MEASURE OF ABILITY TO PAY" 47 5.3. "BASICALLY FICTITIOUS OR
DEEMED INCOME SHOULD NOT BE PART OF THE INCOME TAX" 47 5.4. "THE NET
PRINCIPLE DEMANDS THE FUELL DEDUCTION OF COSTS AND LOSSES" 48 5.5. "THE
CONCEPT OF THE LIFETIME ABILITY TO PAY DEMANDS A CASH FLOW NOTION OF
INCOME" 49 5.6. "IN THE LONG RUN THE NOTION OF INCOME SHOULD MOVE
TOWARDS A CASH FLOW INCOME TAX" 49 5.7. "SPLITTING RULES CONSIDER THE
DISTRIBUTION OF INCOME AMONG SPOUSES AND OTHER FAMILY MEMBERS IN
ACCORDANCE WITH THE INDIVIDUAL TAXATION RULE" 50 5.8. "FINALLY THE
NON-DISPOSAL INCOME OUGHT TO BE EXCLUDED FROM THE TAX BASE" 50 6.
REALISM VERSUS UTOPISM IN LEGAL TAX THEORY 51 7. FINAL REMARKS 52
CHAPTERLL: ECONOMIC ASPCCTS OF TAXATION OF INCOME FROM CAPITAL 53
MANFRED ROSE 1. FACTORS DETERMINING THE DEFINITION OF TAXABLE INCOME
FROM AN ECONOMIC STANDPOINT 53 2. THE TECHNICAL NOTION OF YEARLY INCOME
AS A GUIDELINE FOR THE NOTION OF TAXABLE INCOME - THE TRADITIONAL
APPROACH 58 VU TABLE OF CONTENTS 3. 4. 5. 6. 7. THE ECONOMIC NOTION OF
LIFETIME INCOME AS A GUIDELINE FOR THE NOTION OF TAXABLE INCOME 3.1. THE
CITIZEN'S LIFETIME INCOME FROM AN ECONOMIC STANDPOINT 3.2. THE NOTION OF
TAXABLE INCOME CORRESPONDING TO THE NOTION OF LIFETIME INCOME 3.2.1. THE
SEGREGATION OF INCOME ELEMENTS THAT HAVE ALREADY BEEN BURDENED AND THAT
WILL BE TAXED AT SOME TIME IN THE FUTURE 3.2.2. THE SEGREGATION OF
TRANSFER INCOMES EVALUATION OF ALTERNATIVE SYSTEMS OF TAXING LIFETIME
INCOME 4.1. DECISION NEUTRALITY 4.2. ADMINISTRATIVE EFFICIENCY 4.3.
TAXATION VERSUS TAX BURDENING THE SIMPLEST METHOD OF TAXING LIFETIME
INCOME SUMMARY REFERENCES 62 62 63 63 66 68 68 70 70 72 75 76 CHAPTER
III: RELATIONSHIP BETWEEN PERSONAL INCOME TAX ON INCOME FROM CAPITAL AND
OTHER TAXES ON INCOME FROM CAPITAL (CORPORATE INCOME TAX, WEALTH TAX,
INHERITANCE AND GIFT TAX AND REAL-ESTATE TAX) 77 CLAUDIO SACCHETTO AND
LAURA CASTALDI 1. THE COMBINATION OF PERSONAL INCOME TAX AND WEALTH TAX
77 1.1. DOES THE COMBINATION OF PERSONAL INCOME TAX ON CAPITAL PROCEEDS
AND A WEALTH TAX CAUSE DOUBLE TAXATION? 77 1.2. THE TREND OF DEVELOPING
FISCAL SYSTEMS IN WHICH INCOME TAXES AND WEALTH TAXES COEXIST 79 1.3.
THE DEGREE OF ACCEPTABILITY OF A TAX SYSTEM DEVELOPING A PERIODICAL
ORDINARY DIRECT TAX ON INCOME/ CAPITAL PROCEEDS AND OTHER TAXES ON
CAPITAL/WEALTH 80 TABLE OF CONTENTS 2. INCOME TAXES; TAXING THE PROCEEDS
OF THE USE OF CAPITAL IN THE LIGHT OF INCOME TAX: THE PRINCIPLES 83 3.
TAXATION OF INCOME FROM CAPITAL 86 3.1. THE INCOME TAX ON THE PROCEEDS
COMING FROM CAPITAL GAINS AND THE EXAMPLES OF POSSIBLE DOUBLE OBJECTIVE
TAX 86 3.2. SHOULD CAPITAL GAINS BE CONSIDERED AS CAPITAL INCOME (I.E.
REVENUES FROM THE USE OF CAPITAL)? 88 3.3. POSSIBLE CASES OF DOUBLE
INCOME TAX COMING FROM THE INCORPORATION OF PROFITS/INTERESTS IN THE
COMPENSATIONS OF SHARE ASSIGNMENTS 89 4. TAXATION OF DIVIDENDS, CAPITAL
GAINS AND PROFITS OF PARTICIPATIONS 90 4.1. THE PROBLEM OF THE TAX
TREATMENT OF THE PROCEEDS CAUSALLY REFERRING TO PARTICIPATION IN
ASSOCIATIONS, WHEN THE LATTER ARE ALREADY SUBJECT TO INCOME TAX 90 4.2.
THE POSSIBILITY THAT THE TAX TREATMENT OF THE PROCEEDS COMING FROM (AND
FOR THE EFFECT OF) PARTICIPATING RELATIONS MUST BE SEPARATED ACCORDING
TO THE LUCRATIVE AND NON-LUCRATIVE CAUSAL OF THE CONNOTATION OF THE
PARTICIPATION BOND 91 4.3. THE POSSIBILITY THAT THE ACTUAL PROBLEM OF
SUBJECT DOUBLE IMPOSITION OF GROUP INCOMES REFERS SOLELY TO THE INCOMES
COMING FROM PARTICIPATIONS, IN REFERENCE TO ASSOCIATIONS IN WHICH THE
PARTICIPATION CONNOTES CAUSALLY FOR THE PURSUIT OF THE SINGLE MEMBERS'
LUCRATIVE AIMS 92 4.4. POSSIBLE JUSTIFICATIONS OF DOUBLE INCOME TAX ON
COMPANY REVENUES 92 4.5. SOLUTIONS TO ELIMINATE/DECREASE DOUBLE TAX ON
COMPANY REVENUES 94 TABLE OF CONTENTS CHAPTER IIIA:RELATIONSHIP BETWEEN
PERSONAL INCOME TAX ON INCOME FROM CAPITAL AND OTHER TAXES ON INCOME
FROM CAPITAL (CORPORATE INCOME TAX, WEALTH TAX, INHERITANCE AND GIFT TAX
AND REAL-ESTATE TAX) - A RESPONSE 97 DANIEL GUTMANN CHAPTER IV: FIXED
AMOUNT TAXATION WITH RESPECT TO INCOME FROM CAPITAL IN PERSONAL INCOME
TAXATION HENK VAN ARENDONK 1. 2. 3. 4. 5. 6. INTRODUCTION THEORETICAL
FRAMEWORK THE PRACTICE OF FIXED AMOUNT SCHEMES 3.1. NOTIONAL RENTAL
VALUE FOR OWNER-OCCUPIERS 3.2. BARE OWNERSHIP/USUFRUCT SITUATIONS 3.3.
INCOME FOREIGN INVESTMENT COMPANIES 3.4. FIXED AMOUNT RETURN FOR SAVING
AND INVESTING KINDS OF FIXED AMOUNT SCHEMES FIXED AMOUNT SCHEMES AND THE
THEORETICAL FRAMEWORK SOME IMPORTANT ISSUES 103 103 104 106 106 107 108
110 111 114 122 PARTB THE NOTION OF INCOME FROM CAPITAL: THE TAXABLE
BASE CHAPTER I: ACCRUAL VERSUS REALIZATION 127 PETER KAVELAARS 1.
INTRODUCTION 127 2. (ANNUAL) VALUATION 128 TABLE OF CONTENTS 3.
LIQUIDITY: HOW TO PAY TAX? 130 4. LOSSES 134 5. MIGRATION 135 6. TREATY
ASPECTS 137 7. INFLATION 140 8. SOME SPECIAL SITUATIONS 140 8.1. DEATH
140 8.2. GIFTS 141 8.3. DIVORCE 141 8.4. MERGERS AND SPLITS 142 9.
CLOSING CONSIDERATIONS 143 CHAPTER II: DEFERRAL POSSIBILITIES 147 KEVIN
HOLMES 1. INTRODUCTION 147 2. MEANING OF DEFERRAL 148 3. TAX POLICY AND
DEFERRAL 151 4. DEFERRAL MECHANISMS IN SELECTED JURISDICTIONS OF THE NEW
EUROPE 157 4.1. DEFERRAL OF RECOGNITION OF DIVIDEND INCOME 158 4.2.
DEFERRAL OF RECOGNITION OF INTEREST INCOME 159 4.3. DEFERRAL OF
RECOGNITION OF RENTAL INCOME 160 4.4. DEFERRAL OF RECOGNITION OF ROYALTY
INCOME 163 4.5. DEFERRAL OF RECOGNITION OF CAPITAL GAIN 164 4.6.
PARTICIPATION EXEMPTIONS 170 4.7. CORPORATE RECONSTRUCTIONS 172 4.8.
CHANGEOFRESIDENTIAL STATUS 173 4.9. CAPITAL LOSSES 174 4.10.
INTRA-FAMILY ARRANGEMENTS 175 XI TABLE OF CONTENTS 5. ANTI-AVOIDANCE
PROVISIONS 178 6. CONCLUSION 179 CHAPTER IIA:DEFERRAL POSSIBILITIES - A
RESPONSE 183 ALAIN STEICHEN 1. CONCEPT OF DEFERRAL OF TAXATION 183 2.
NORMATIVE ASSUMPTIONS 184 3. TWO TYPES OF TAX DEFERRALS 185 4. TAX
DEFERRALS HAVE A COST TO THE TAX REVENUE 186 5. ARE TAX DEFERRAL
PROVISIONS UNJUST? 187 6. TRADE OFF BETWEEN JUSTICE AND EFFICIENCY 187
7. CONCLUSIONS 188 CHAPTER III: TREATMENT OF CAPITAL GAINS AND LOSSES
191 JUDITH FREEDMAN 1. INTRODUCTION: CONCEPTS OF CAPITAL GAINS AND
INCOME 191 2. APPROACHES TO TAXATION OF CAPITAL GAINS AND LOSSES 195
2.1. THREE MODEIS 195 2.2. DISTINGUISHING CAPITAL GAINS FROM OTHER
INCOME GAINS 196 2.3. SPECIAL TREATMENT OF CAPITAL GAINS 197 3.
RATIONALE FOR SPECIAL TREATMENT OF CAPITAL GAINS 198 3.1. QUALITATIVE
DIFFERENCES 198 3.2. ABILITY TO PAY AND EQUITY 200 3.2.1. REALIZATION
VERSUS ACCRUALS BASIS 200 3.2.2. MOVING AWAY FROM REALIZATION - MARKING
TO MARKET AND FOLLOWING THE COMMERCIAL ACCOUNTS 202 TABLE OF CONTENTS
3.2.3. RETAINING REALIZATION BUT REMOVING THE BENEFIT 205 3.2.4.
BUNCHING AND INFLATION 207 3.3. INCENTIVES AND RELIEFS 208 4. LOSSES 210
5. CONCLUSION 212 6. REFERENCES 215 CHAPTER IIIA:TREATMENT OF CAPITAL
GAINS AND LOSSES - A RESPONSE 217 LEIF MUTEN CHAPTER IV: INFLUENCE OF
INFLATION 223 IAN ROXAN 1 . INTRODUCTION 223 2. EFFECTS OF INFLATION ON
TAX REVENUES 224 2.1. FISCALDRAG 224 2.2. COLLECTION EFFECT 225 3.
EFFECTS OF INFLATION ON THE TAX BASE 225 4. INFLATION ADJUSTMENT
MECHANISMS IN USE 227 4.1. PARTIAL ADJUSTMENT 227 4.1.1. CAPITAL GAINS
227 4.1.1.1. AN ILLUSTRATION: THE UNITED KINGDOM 227 4.1.1.2. OTHER
APPROACHES IN EUROPE 230 4.1.2. INTEREST 232 4.1.3. BUSINESS PROFITS 233
4.2. GLOBAL ADJUSTMENT 234 4.3. ADJUSTMENT OF TAX RATE AND ALLOWANCE
THRESHOLDS 237 5. DESIRABILITY OF ADJUSTING INCOME FROM CAPITAL FOR
INFLATION 238 5.1. EQUITY CONSIDERATIONS 238 5.2. EFFICIENCY
CONSIDERATIONS 239 TABLE OF CONTENTS 5.3. ADMINISTRATION COSTS 239 6.
DESIRABILITY OF PARTICULAR INFLATION ADJUSTMENT METHODS 240 6.1.
INDEXATION 240 6.2. INDEXATION FOR SPECIFIC ASSETS 240 6.3. INDEXATION
AND THE REALIZATION BASIS 241 6.4. BUSINESS PROFITS 242 6.5. TAX BASES
THAT EXCLUDE INFLATIONARY RETURNS 243 7. CONCLUSIONS 244 8. REFERENCES
248 CHAPTER V: IMPUTED INCOME (INCLUDING DEDUCTIBLE COSTS) 249 IAN ROXAN
1. IMPUTED INCOME 249 1.1. PROBLEM OF IMPUTED SERVICES FROM ASSETS 249
1.2. IMPUTED INCOME FROM HOUSING 250 1.2.1. PREVALENCE 250 1.2.2.
GROUNDS FOR TAXING IMPUTED RENT 250 1.2.3. MEASURING THE RETURNS ON
HOUSING: RELEVANCE OF EX ANTE AND EX POST RETURNS 251 1.2.4. TAXATION OF
IMPUTED RENT IN EUROPE 253 1.2.5. TAXATION OF CAPITAL GAINS ON PRIVATE
HOUSING 254 1.2.6. CONCLUSION 254 1.3. IMPUTED INCOME ON OTHER ASSETS
255 2. DEEMED INCOME 255 2.1. THE USE OF DEEMED VALUES - TWO CASES 255
2.2. DEEMED VALUES REFLECTING TRUE VALUES 256 2.2.1. NON-ARM'S LENGTH
TRANSFERS 256 2.2.2. DEEMED TRANSACTIONS 257 2.2.3. MEASURE OF DEEMED
VALUE 258 2.3. DEEMED VALUES USED TO IMPLEMENT POLICY OBJECTIVES 259
2.3.1. DEEMED VALUES IN RELIEVING PROVISIONS 259 2.3.2. RESTRICTIVE
DEEMED VALUES 259 XIV TABLE OF CONTENTS 3. CONCLUSION 261 4. REFERENCES
262 CHAPTER VI: EMIGRATION TAXES 263 BERTIL WIMAN 1. INTRODUCTION 263 2.
NATIONAL LAW 267 3. TAX TREATY PERSPECTIVE 268 4. EC LAW PERSPECTIVE 270
5. CONCLUDING REMARKS 275 PARTC GENERAL REPORT PETER ESSERS AND ARIE
RIJKERS 1. INTRODUCTION 281 2. GENERAL ASPECTS OF AN INCOME TAXATION ON
INCOME FROM CAPITAL 281 2.1. THE INFLUENCE OF TAX PRINCIPLES ON THE
TAXATION OF INCOME FROM CAPITAL 281 2.1.1. INCOME TAX AS A MODEL 281
2.1.2. CONCEPT OF INCOME A MULTIDISCIPLINARY ISSUE? 283 2.1.3.
COMPREHENSIVE INCOME TAX 284 2.1.4. THE ABILITY-TO-PAY PRINCIPLE 286
2.1.5. ROBBERY? 291 2.1.6. SCIENCE VERSUS POLITICS 293 2.2. ECONOMIC
ASPECTS OF TAXATION OF INCOME FROM CAPITAL 294 2.2.1. A LIFETIME NOTION
OF INCOME 294 2.2.2. ECONOMIC VERSUS LEGAL APPROACH 295 TABLE OF
CONTENTS 2.3. RELATIONSHIP BETWEEN PERSONAL INCOME TAX ON INCOME FROM
CAPITAL AND OTHER TAXES ON INCOME FROM CAPITAL 296 2.3.1. COMBINATION OF
WEALTH TAX AND PERSONAL INCOME TAX 296 2.3.2. COMBINATION OF CAPITAL
GAINS TAX AND GIFT AND INHERITANCE TAXES 299 2.3.3. COMBINATION OF
PERSONAL INCOME TAX ON DIVIDENDS AND CAPITAL GAINS TAX ON SHARES AND A
CORPORATE INCOME TAX 300 2.4. FIXED AMOUNT TAXATION WITH RESPECT TO
INCOME FROM CAPITAL IN PERSONAL INCOME TAXATION 302 2.4.1. BETWEEN
JUSTICE AND PRACTICABILITY 302 2.4.2. SOLUTIONS 303 2.4.3. DEGRESSIVE
EFFECTIVE TAX RATE 304 2.4.4. DISCUSSION THEMES 305 2.4.4.1. FICTITIOUS
305 2.4.4.2. UNCONSTITUTIONAL? 308 2.4.4.3. HARMONIZATION AND TAX POLICY
309 3. THE NOTION OF INCOME FROM CAPITAL: THE TAXABLE BASE 311 3.1.
ACCRUAL VERSUS REALIZATION 311 3.1.1. IS REALIZATION AN INHERENT PART OF
THE NOTION OF INCOME (FROM CAPITAL)? 311 3.1.2. VALUATION, LIQUIDITY AND
LOCK-IN 312 3.1.3. INTERNATIONAL ASPECTS 315 3.1.4. DISCUSSION 315 3.2.
DEFERRAL POSSIBILITIES 317 3.2.1. THE RAENGE OF DEFERRAL 317 3.2.2.
DEFERRAL AND TAX AVOIDANCE 318 3.2.3. DEFERRAL AND TAX POLICY 319 3.2.4.
LOCK-IN EFFECT 321 3.2.5. LEGAL COMPARISON 322 3.3. TREATMENT OF CAPITAL
GAINS AND LOSSES 322 3.3.1. NORMAL OR SPECIAL INCOME? 322 3.3.2. CAPITAL
LOSSES 324 3.4. INFLUENCE OF INFLATION 325 3.4.1. EQUITY, EFFICIENCY AND
COSTS 325 3.4.2. COMPENSATION MEASURES AND TYPES OF RETURN 325 3.4.3.
ALL OR NOTHING 326 3.4.4. FEASIBLE SYSTEMS 326 3.4.4.1. GLOBAL
ADJUSTMENT 326 XVI TABLE OF CONTENTS 3.4.4.2. DUTCH SYSTEM OF
PRESUMPTIVE RETURN 327 3.4.4.3. A FUND FOR DEDUCTION 328 3.4.5.
CONCLUSION 329 3.5. IMPUTED INCOME 329 3.5.1. OWNER OCCUPIED HOUSING 329
3.5.2. DEEMED VALUES AND TRANSACTIONS 330 3.5.3. DEEMED VALUES FOR
POLICY AND ANTI-AVOIDANCE REASONS 331 3.6. EXIT TAXES 331 3.6.1.
CONFLICT WITH THE ABILITY-TO-PAY PRINCIPLE? 331 3.6.2. TREATY OVERRIDE?
332 3.6.3. EC ASPECTS 333 4. GENERAL CONCLUSIONS 334 |
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| spelling | The notion of income from capital Editors: Peter Essers and Arie Rijkers [Amsterdam] IBFD [2005] [© 2005] xxvi, 338 Seiten txt rdacontent n rdamedia nc rdacarrier EATLP international tax series Volume 1 (DE-588)1071861417 Konferenzschrift 12-14 June 2003 Cologne gnd-content Essers, P. H. J. 1957- (DE-588)124146287 edt Rijkers, Arie edt EATLP Congress 2003 Köln Sonstige (DE-588)1177826445 oth EATLP international tax series Volume 1 (DE-604)BV021659033 1 GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014859812&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | The notion of income from capital EATLP international tax series |
| subject_GND | (DE-588)1071861417 |
| title | The notion of income from capital |
| title_auth | The notion of income from capital |
| title_exact_search | The notion of income from capital |
| title_exact_search_txtP | The notion of income from capital |
| title_full | The notion of income from capital Editors: Peter Essers and Arie Rijkers |
| title_fullStr | The notion of income from capital Editors: Peter Essers and Arie Rijkers |
| title_full_unstemmed | The notion of income from capital Editors: Peter Essers and Arie Rijkers |
| title_short | The notion of income from capital |
| title_sort | the notion of income from capital |
| topic_facet | Konferenzschrift 12-14 June 2003 Cologne |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014859812&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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