Seminar J on the last day of IFA Congress discussed recent developments in international taxation across the globe. The panel discussed how partnerships are taxed in different countries as also the treaty entitlement issues relating to partnerships.
It was billed as one of the marquee sessions at the 69th IFA Congress at Basel and the enthralling 3 hour session on BEPS kept the delegates hooked to their seats and glued to their ears every minute of it, not disappointed.
IFA President Porus Kaka in his inaugural address on Sunday rightly referred the second scientific topic of the 69th IFA Congress at Basel, ‘Practical Protection of Taxpayers’ Rights’ as extremely relevant in the current situation. BEPS, exchange of information, naming & shaming of taxpayers and public trials on potential ‘tax avoidance’ by corporates are some of the reasons that particularly raise the need to discuss about the practical aspects in protection of taxpayers’ rights.
The first scientific topic at the plenary session of the IFA congress, 2015: ‘Tax Incentives on Research and Development (R&D)’ raised the fundamental question – ‘Are tax incentives an effective tool for promoting R&D? Or should Governments instead consider direct subsidy which is more transparent?’
The 69th IFA Congress got underway last evening at Switzerland's city of culture - Basel, with the performances staying true to the rich heritage of the country and the continent.
It is with great pride that I welcome the delegates and Taxsutra readers to the 69th IFA Congress in Basel. With more than 2000 participants, Basel will have perhaps the largest International Tax gathering in its history.
The 69th IFA Congress 2015 will take place at the Congress Center Basel, Switzerland known throughout Europe as Switzerland's leading convention and congress venue. This year the scientific programme has been designed to be of interest to international tax practitioners, academics and governmental officials wherein “Tax Incentives on Research and Development (R&D)” and “Practical Protection of Taxpayers’ Fundamental Rights” have been selected as the main topics for plenary sessions on Monday (August 31) and Tuesday (September 1) respectively.
The first plenary topic for discussion at the IFA congress, 2015 is ‘Tax Incentives on Research and Development (R&D)’. The General Report emphasizes the significance of R&D in fuelling economic growth and recognizes the requirement of state intervention to stimulate R&D owing to its inherent risky nature. The report specifically explains (i) R&D tax incentives: principles of neutrality and proportionality (ii) Current trends in input tax incentives and R&D outsourcing (iii) R&D output tax incentives and modified nexus approach (iv) Common legal framework for R&D tax incentives.
While there is a huge mayhem around interpretations of tax provisions, a delicate concept which is scarcely debated is the protection of rights available to taxpayers. Does that mean taxpayers’ protection systems across countries are on the crest of a wave? The second plenary topic at the IFA congress “The Practical Protection of Taxpayers’ Fundamental Rights” seeks to foster a discussion around just that.