Journal articles on the topic 'School of Accounting and Commercial Law'
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Ercanbrack, Jonathan. "The Standardization of Islamic Financial Law: Lawmaking in Modern Financial Markets." American Journal of Comparative Law 67, no. 4 (December 2019): 825–60. http://dx.doi.org/10.1093/ajcl/avz010.
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Abstract The project to standardize the commercial elements of the sharia as undertaken by standard-setting bodies, such as the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), is a lawmaking effort that is incentivized by market forces and the interaction of municipal legal systems. This Article examines the ways in which these factors contribute to the development of private Islamic legal standards, and in doing so, contribute to an emergent legal architecture that is integrated within the global economy. Contrary to the primary role assigned in existing analyses to sharia scholars and sharia supervisory boards, the Article shows that the processes that determine the composition of Islamic financial law (IFL) highlight the starkly reduced role of jurists in developing law in accordance with the traditional methodology (usul al-fiqh). Such analyses have failed to consider the standardization effort as a lawmaking project driven by market forces, which must be realized if authentic sharia principles are to be given effect. Therefore, examination of these market-led processes and their contribution to the creation of Islamic standards is essential for understanding what standardization means in relation to the fulfillment of Islamic principles and whether a high degree of standardization is desirable. First, the Article examines the role of interpretation, which highlights the methodological challenges of the standardization project. Second, the Article investigates the AAOIFI’s standard-setting efforts, including the methods of standardization, its market- and law-driven incentives, and the status of standardization efforts including the madhahib (schools of law)’s differences of legal thought. Third, an analysis of the interaction of IFL and the law of municipal legal systems (the United Arab Emirates, England and Wales, and Malaysia) highlights the legal incentivization for developing sharia standards. Finally, an analysis of the commercial practice of IFL, particularly in retail markets, demonstrates commercial law’s trend toward standardized contractual practices. Market forces compel the use of standard-form documentation, comprising standards that reflect the commercial practice of law firms and corporations.
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Reichert, Patrick, Matthew D. Bird, and Vanina Farber. "Gender and entrepreneurial propensity: risk-taking and prosocial preferences in labour market entry decisions." Social Enterprise Journal 17, no. 1 (February 10, 2021): 111–39. http://dx.doi.org/10.1108/sej-07-2020-0050.
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Purpose This study aims to examine gender differences in risk-taking and prosociality through a hypothetical labour market entry choice experiment. Design/methodology/approach To explore differences between male and female subjects by risk levels and framing effects, a labour market entry choice task that manipulated risk conditions was administered to business school students whereby subjects chose between a managerial job at a company, starting a commercial business or starting a social enterprise. The experimental design isolated and tested the influence of the type of value creation, risk propensity and framing effects. The results were then statistically analysed to test for significant differences between the two gender groups. Findings Results indicate that in low-risk conditions women prefer the prosocial entrepreneurial option while men opt for purely commercial entrepreneurial activities. As risk increases, differences between men and women initially converge and then reverse under conditions of extreme risk, where men select the social entrepreneurial choice at a higher rate than women. Research limitations/implications The research was conducted within the single country context of Peru and carried out using a specific subset of potential entrepreneurs (i.e. business school students). Second and related, the experimental labour entry task was hypothetical. Whether decisions would hold if business school students faced an actual occupational choice remains open to further investigation. Practical implications The practical implication of the paper suggests that Peruvian business school students react differently towards potential labour market opportunities depending on their gender. Perhaps, because of gender biases common in the Latin American context, women appear to respond more positively to low-risk prosocial opportunities. However, as risk increases, contextual factors appear to become less important and reveal core sets of prosocially anchored men and commercially anchored women. Originality/value This research provides new insights into risk-taking and prosocial differences between men and women facing labour entry decisions, especially in a developing country context with strong gender norms, and is particularly useful to those with an interest in entrepreneurial propensity and in the identification and development of entrepreneurial women.
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Güvemli, Batuhan, and Fehmi Yildiz. "Commercial books under Turkish commercial laws concerning accounting." Pecvnia : Revista de la Facultad de Ciencias Económicas y Empresariales, Universidad de León, no. 11 (December 1, 2010): 85. http://dx.doi.org/10.18002/pec.v0i11.630.
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La modernización de las leyes comerciales de Turquía tiene una historia de 160 años (1850-2010). Los movimientos de occidentalización (Imperial Edicto de 1839) dentro del Imperio Otomano trajeron consigo la creación de la primera ley comercial, Kanunname-i Ticaret (1850 a 1926). Desde 1926 otras tres leyes comerciales fueron promulgadas. En este estudio, examinamos los libros de comercio dentro de esas cuatro leyes comerciales en el ámbito de la contabilidad. Nuestro objetivo es entender los efectos de los cambios de reglamentación comercial sobre la evolución de la cultura turca de contabilidad. Los resultados indican que debido a la ley islámica (Sharia), la aplicación de la ley comercial de 1850 no se había extendido. Las disposiciones legales que entraron en vigor con el establecimiento de la República en 1923 han hecho posible la promulgación de nuevas leyes comerciales. Así, el estudio también se ocupa del proyecto de ley de Derecho Mercantil de Turquía de 2005.<br /><br />The modernization of the Turkish commercial laws has a history of 160 years (1850-2010). The westernization movements (Imperial Edict of 1839) within the Ottoman Empire effected the establishment of the first commercial law, Kanunname-i Ticaret (1850-1926). Since 1926, three other commercial laws were enacted. In this study, we examine the commercial books within those four commercial laws under the scope of accounting. Our aim is to understand the effects of the commercial regulatory changes on the evolution of the Turkish accounting culture. Findings indicate that due to the Islamic law (Sharia), the application the commercial law of 1850 was not widespread. The legal regulations which were put into force with the establishment of the Republic in 1923 have made the enactment of new commercial laws possible. Thus, the study also addresses to the bill of Turkish Commercial Law dated 2005.<br />
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Fichtnerová, Eva, and Jitka Vacková. "Motives for the migration of scientific, research and academic workers." Problems and Perspectives in Management 19, no. 1 (March 2, 2021): 209–20. http://dx.doi.org/10.21511/ppm.19(1).2021.18.
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The higher education system needs personalities who guarantee high quality of academic and scientific performance. This paper deals with the motives of their migration to/from HEIs, knowledge of which is important for their HR management and increasing global competitiveness. The theory is based on the idea of internationalization (Knight, 2012) and push-pull factors (Ravenstein, 1889), leading to the recruitment of highly qualified labor from abroad. The analysis focused on the “circulation of brains” in modern Europe. The final part contains a graph of the research methodology.Three main areas of the motivation process affecting migration have been identified. At the macro-level, this is political support, which enables the arrival of experts and creates conditions for own professionals to gain experience abroad, but return. This applies to working conditions, adaptation, and integration. Economic conditions at the mezzo-level are based on the motives of finding a better job opportunity and one’s living conditions. The transfer of knowledge increases the country’s economic potential. At the micro-level, there is an impact of an individual’s character traits and surrounding social networks. It depends on the influence of a family, school, friends, the desire to apply language and other skills, and experience abroad. The knowledge of the motives for migration should be a stimulus for taking appropriate measures at higher education institutions leading to the creation of a multicultural environment and the readiness of HEIs to use «brain circulation» to increase their excellence in academic and scientific performance. AcknowledgmentThis research did not receive a specific grant from any funding agency in the public, commercial, or not-for-profit sectors. The researchers have no conflicts of interest to disclose.
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Gorton, Lars. "Global Business: National Law, EU Law and International Customs and Contracts." European Business Law Review 27, Issue 3 (June 1, 2016): 421–58. http://dx.doi.org/10.54648/eulr2016019.
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Lars Gorton is a professor emeritus presently connected to the Stockholm Centre of Commercial Law at the Stockholm University Law faculty. He has previously been engaged as professor of Banking Law at the university of Lund and as professor adiunct at the Stockholm School of Economics and the Copenhagen Business School. He is presently mainly engaged with matters related to General Commercial Law including Financial and Credit law. This article presents some overview of commercial law developments in the EU against a wider context.
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Ahn Kyeong-Bong and Hun Park. "Tax Law and Revision of Corporate Accounting Provisions in Commercial Law." Seoul Tax Law Review 17, no. 3 (December 2011): 128–63. http://dx.doi.org/10.16974/stlr.2011.17.3.004.
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Graf Kerssenbrock, Otto-Ferdinand. "Conditional Debt Waivers in German Commercial Law, Insolvency and Tax Law." Intertax 36, Issue 10 (October 1, 2008): 434–49. http://dx.doi.org/10.54648/taxi2008064.
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Graf Kerssenbrock, Otto-Ferdinand. "Shareholders’ Subordination Agreements in Light of German Commercial Law, Insolvency Law and Tax Law." Intertax 38, Issue 10 (October 1, 2010): 509–26. http://dx.doi.org/10.54648/taxi2010053.
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Subordination declarations play a major role for crisis-threatened enterprises in the prevention of duty to apply for insolvency procedures. The German legal environment for Shareholder’s Subordination Agreements has recently changed drastically, since Germany has significantly changed and adapted the concept of Corporate Equity Protection – which was formally laid down in section 30 and the following of the Limited Liability Company Act (GmbHG) – for all kinds of enterprises and moved it into the legal framework of Insolvency Law (InsO). This article covers the legal situation before and after the reform of the concept of Corporate Equity Protection and gives a coherent, practical presentation of the commercial, insolvency, and tax law aspects of this still important financing instrument.
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Sklenár, Roman. "The cross-border mergers by Slovak Commercial and Accounting Law." Český finanční a účetní časopis 2010, no. 4 (December 1, 2010): 53–63. http://dx.doi.org/10.18267/j.cfuc.86.
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An, Sungpo. "Development Direction of Commercial Law and Corporate Law Education for the Curriculum of Law School." Commercial Law Review 36, no. 1 (May 31, 2017): 99–137. http://dx.doi.org/10.21188/clr.36.1.4.
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Lopez, Vera A., Mark W. Roosa, Jenn-Yun Tein, and Khanh T. Dinh. "Accounting for Anglo-Hispanic Differences in School Misbehavior." Journal of Ethnicity in Criminal Justice 2, no. 1-2 (January 29, 2004): 27–46. http://dx.doi.org/10.1300/j222v02n01_03.
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Wan-Jin Choi. "Study of Curriculums for Commercial Law and Teaching Methodology For the Law School System." KYUNGPOOK NATIONAL UNIVERSITY LAW JOURNAL ll, no. 28 (June 2008): 355–89. http://dx.doi.org/10.17248/knulaw..28.200806.355.
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김성은. "A Study on Accounting Rules of Revised Commercial Law in Korea." Tax Accounting Research ll, no. 34 (December 2012): 123–45. http://dx.doi.org/10.35349/tar.2012..34.007.
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Karki, Chitra Bahadur. "Management Accounting Practice in Nepalese Commercial Banks." Journal of Management 4, no. 1 (August 3, 2021): 51–64. http://dx.doi.org/10.3126/jom.v4i1.38661.
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The paper aims to analyze the management accounting practice in Nepalese commercial banks. Primary data have been collected by using interview method and structured questionnaire. The accounting and audit department staff in the sample banks were served with questionnaires. The descriptive survey research has been utilized in this research. The study employed the simple percentage and simple average to analyze the research questions. A sample of six numbers Nepalese commercial banks has been considered with convenience sampling technique. The study foundthat various management accounting tools are in practice in Nepalese commercial banks and maximum Nepalese commercial banks use more than one management accounting tools.In addition, management accounting is important to Nepalese commercial banks’ management for planning, evaluating, controlling and decision making and there are various problems in practicing management accounting tools in Nepalese commercial banks, such as lack of expertise, lack of information about tools, lack of top management’s committee, accounting provisions of NRB, tax law compliances, high cost and so on.
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Braghetta, Adriana. "Diversity and Regionalism in International Commercial Arbitration." Victoria University of Wellington Law Review 46, no. 4 (December 1, 2015): 1245. http://dx.doi.org/10.26686/vuwlr.v46i4.4890.
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New Zealand Law Foundation International Dispute Resolution Lecture 2015, delivered at Stone Lecture Theatre, Auckland Law School, 19 October 2015. The lecture focuses on diversity and regionalism in international commercial practice, looking specifically at the representation of new players.
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Rodrigues, Lúcia Lima, Russell Craig, and Delfina Gomes. "State intervention in commercial education: the case of the Portuguese School of Commerce, 1759." Accounting History 12, no. 1 (February 2007): 55–85. http://dx.doi.org/10.1177/1032373207072808.
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Lee, Bomi. "Study on Accounting or Finance Experts of Audit Committee under Commercial Law." Sogang Law Journal 9, no. 2 (June 30, 2020): 43–71. http://dx.doi.org/10.35505/slj.2020.06.9.2.43.
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Dyppel, Katja Joo, and Jakob Bundgaard. "Profit-Participating Loans in International Tax Law." Intertax 38, Issue 12 (December 1, 2010): 643–62. http://dx.doi.org/10.54648/taxi2010069.
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The article analyses the tax classification and tax treatment of profit participating loans (PPL) in international tax law. In order to analyse the tax aspects of PPL, the commercial and economic background is provided. Following this, a comparative overview of the tax law classification in the United States and Germany and an in-depth analysis of the tax classification and treatment in Danish law are provided. Next, the article analyses whether payments under PPL fall under the scope of the EU corporate tax directives and also considers the income tax treaty protection of payments under PPL.
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Dowden, Malcolm. "Law briefing." Journal of Property Investment & Finance 32, no. 2 (February 25, 2014): 202–7. http://dx.doi.org/10.1108/jpif-12-2013-0067.
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Purpose – This legal update examines the implications for commercial landlords of regulations required to be made under Energy Act 2011, and to come into force by 1 April 2018. Under those regulations, a landlord “may not let” commercial premises falling below a specified energy performance rating (likely to be E). The sanction of market deprivation arguably represents a significant shift in the balance between incentive and compulsion as the key policy tool adopted by the UK Government in seeking to improve the energy performance of commercial buildings. The paper aims to discuss these issues. Design/methodology/approach – The paper sets out and reflects a practitioner's concerns relating to the proposed new sanction of market deprivation. It identifies and highlights practical difficulties likely to be encountered when considering the interaction of the proposed regulations with existing statute (e.g. Landlord and Tenant Act 1954) and contractual provisions such as tenant break clauses. Findings – The prospect of being unable to let commercial premises that fall below a specified energy efficiency rating must focus landlord attention on rights to enter to carry out improvement works. The paper identifies a potentially significant trap for landlords in the model green lease clauses issued by the Better Buildings Partnership where tenant consent is required. Research limitations/implications – The paper does not reflect extensive or exhaustive academic research. Consistently with its purpose a legal update, it identifies key issues likely to be encountered by practitioners. Practical implications – The principal practical implication is the need for landlords and their professional advisors to consider as part of any current lease negotiations the need to secure rights of entry for landlords to carry out improvement works where premises are at risk of falling below the energy performance rating likely to be specified in regulations to be made under Energy Act 2011, s 49. Originality/value – The paper reflects a practitioner's views, developed through client matters and also through designing and delivering professional training sessions, on the likely implications of the requirement for regulations under Energy Act 2011.
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Terra, Ben J. M. "The proposal for a directive combating late payment in commercial transactions: some VAT implications." EC Tax Review 8, Issue 1 (March 1, 1999): 70–72. http://dx.doi.org/10.54648/ecta1999012.
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Solange Screpante, Mirna. "The Arm’s Length Principle Evolves Towards a ‘Value Creation Functional (i.e. DEMPE) Formula Standard’: A Barrier or a Gateway to Locational Business Planning?" Intertax 48, Issue 10 (September 1, 2020): 861–78. http://dx.doi.org/10.54648/taxi2020087.
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Value creation vis-à-vis the DEMPE rationale and methodology converted a conceptual notion associated with contributions to value creation but lacking prescription into a new standard to allocate profits to achieve reunification for tax purposes in a manner consistent with the directions of the arm’s length principle (ALP). Within this context, this article questions whether value creation could or should be based on a functional (i.e. DEMPE)-formula-based standard to allocate profits, and whether such an approach would target or abet tax avoidance framed by apparently genuine structures –‘accurately delineated’ (i.e. alignment of the allocation of profits with value-generating activities) that, in terms of how income is earned, might not be commercially rational. That said tax avoidance one that goes beyond the customary understanding and limitations of abuse under domestic law norms which paradoxically could make tax planning considered "abusive" easier to sustain within the BEPS precepts. Thus, the functional (i.e. DEMPE)-formula-based standard coupled with the commercial rationality test needs to be interpreted in a way that determines whether the performance of those functions by each party in a specific jurisdiction is rational from a commercial/business purpose perspective based on certain business parameters to provide taxpayers with a higher level of certainty, and in turn to devise suitable objective standards concerning the meaning of rationality in business operations for which typically there are open variuos legally sustainable ways to achieve the same economic outcomes. Value creation, intangibles, Actions 8–10, transfer pricing, source, commercial rationality, substance, anti-avoidance, arm´s length principle, fractional.
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Vomáčková, Hana. "Measurement Bases for Acquisitions and Mergers in Financial Accounting and in Commercial Law." European Financial and Accounting Journal 6, no. 3 (October 1, 2011): 21–37. http://dx.doi.org/10.18267/j.efaj.24.
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Castagna, Stefano. "The Benefits of Differentiated Transparency. Proposal for Graduated Confidentiality Regimes within International Tax Disputes." Intertax 48, Issue 12 (November 1, 2020): 1125–44. http://dx.doi.org/10.54648/taxi2020113.
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To date, legislators and policymakers have not yet used any explicit policy criterion to balance transparency matters when dealing with EU and OECD tax dispute resolution reforms. This article wants to fill this void by providing a unique tool for implementing changes in international tax dispute resolution mechanisms, balancing different expectations and needs of stakeholders. Providing an example of its application, it proposes the use of differentiated levels of transparency according to stakeholders’ interests to ensure efficiency and fairness of outcome. The article employs principles of data protection regulations as a means to propose changes, drawing inspiration from comparable dispute resolution regimes that deal with taxation matters (Investor-State Dispute Settlement, International Commercial Arbitration and World Trade Organization dispute resolution mechanism). It concludes by providing proposals to render more efficient the current EU and OECD tax dispute resolution mechanisms. Transparency, dispute resolution, international arbitration, legitimate interests, reform, WTO, ICSID, commercial arbitration, EU tax, OECD.
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Todd, David Y. "The law school class of '84." Critical Perspectives on Accounting 9, no. 3 (June 1998): 390. http://dx.doi.org/10.1006/cpac.1996.0249.
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McKenzie, Peter. "A shared commercial legal heritage - reflections on commercial law reform in former British Colonies and Dependencies." Victoria University of Wellington Law Review 39, no. 4 (December 1, 2008): 553. http://dx.doi.org/10.26686/vuwlr.v39i4.5478.
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This article reflects on Professor Tony Angelo's contributions to the laws of various British colonies, particularly Mauritius. The author illustrates different types of jurisdiction by reference to individual countries. First, the author discusses colonies with a received legal heritage – Mauritius, who has influences from its French colonial administration and English law, and Botswana who has hints of English commercial statutes. Secondly, the author discusses colonies with an underlying common law system – Uganda, Sierra Leone, and Samoa. None of these nations were settled colonies, but colonial administrators took with them a common law structure for contracts, and civil and commercial obligations, while retaining customary law and practices in relation to land. Finally, the Maldives is discussed as a "special case". The author then discusses his reflections on the colonial legal legacy, including the impact of the English language, the shared nature of the colonies' legal systems (including a common accounting and business framework), and the "colonial legal patchwork". The author hopes that the impetus given by Professor Angelo to law reform in Mauritius, as well as other nations, will continue.
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Graf Kerssenbrock, Otto-Ferdinand. "Equity Substitution Loans in German Commercial, Insolvency and Tax Law: Current Status in Anticipation of Modernization." Intertax 35, Issue 11 (November 1, 2007): 616–37. http://dx.doi.org/10.54648/taxi2007069.
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Purnamasari, Dewi, Ayu Almira, and Nadia Della Savira. "Accounting for Inventory from a Commercial Point of View." Research Horizon 1, no. 2 (April 30, 2021): 81–85. http://dx.doi.org/10.54518/rh.1.2.2021.81-85.
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Inventory control is a very important managerial function because the physical inventory of many companies involves the largest investment in current assets. The main purpose of inventory accounting is to determine periodic profit and loss through the process of bringing together the cost of goods sold with the sales proceeds in one accounting period and determining the amount of inventory to be presented in the balance sheet. This paper aims to describe the accounting for inventory from a commercial point of view. The method used in this study is qualitative in nature with a descriptive approach. The results showed that the main functions of inventory are to avoid delays in goods, loss of goods and with the presence of inventory, the company's operations can continue to run so that services to consumers can be carried out as well as possible. More specifically, the main functions of inventory are the decoupling function, economic lot-sizing function, and anticipation function. As the inventories become subject to regulations in Indonesia, the study also highlights the purposes of calculating the income tax of inventories. Article 10 paragraph (6) of the Income Tax Law states that inventories must be valued at cost. Therefore, if the taxpayer makes an assessment based on a method other than cost, an adjustment is required.
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Hardin, J. Russell, David O'Bryan, and Jeffrey J. Quirin. "Accounting versus engineering, law, and medicine: Perceptions of influential high school teachers." Advances in Accounting 17 (January 2000): 205–20. http://dx.doi.org/10.1016/s0882-6110(00)17012-9.
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Fedotova, I. G. "School of Juridical English." MGIMO Review of International Relations, no. 5(38) (October 28, 2014): 216–17. http://dx.doi.org/10.24833/2071-8160-2014-5-38-216-217.
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The Department of English Language № 8 works with students of the Faculty of International Law. The unique school of teaching legal aspects of the English language is one of the most significant achievements of the department. Associate Professor V.F. Nazarov was one of professionals, was at the origin of this school. In 1992 the textbook "The course of the legal interpretation of Anglo-American Commercial Law" was published, which was the result of work of group of specialists in legal translation since early 1970s. The book laid foundation for the further development of the school of teaching legal aspects of the English language. After1990stheteaching of the legal aspects of English language was brought to the next level, marked of the by the creation of the educational complex "Legal concepts and categories in the English language" by I.G. Fedotova and G.P. Tolstopyatenko, based on the new competence-based concept of educating professional international lawyers.
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Freidank, Carl-Christian, and Remmer Sassen. "Simultaneous models for accounting policy optimization of stock corporations according to German commercial law." Corporate Ownership and Control 12, no. 2 (2015): 236–63. http://dx.doi.org/10.22495/cocv12i2c1p5.
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The paper presents simultaneous models for accounting policy optimization of stock corporations according to German commercial law. In particular, we illustrate the integration into the optimization models of effective income tax, deferred taxes, remuneration principles for members of management boards and supervisory boards under stock corporation law, parameters for the distribution of profits, and key indicators of the annual financial statements. The models are useful to design optimal financial statements in line with the targets of the company
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Maitland, Ian. "Virtuous Markets: The Market as School of the Virtues." Business Ethics Quarterly 7, no. 1 (January 1997): 17–31. http://dx.doi.org/10.2307/3857230.
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Abstract:In a commercial society, said Adam Smith, “every man becomes in some measure a merchant.” If Smith is right, what does that mean for the character of the society? This paper addresses the character forming effects of the market—and, specifically its impact on the “virtues.” There is a long tradition of viewing commerce as subversive of the virtues. In this view, the market is held to have legitimated the pursuit of narrow self-interest at the expense of social and civic obligations and moral restraints. But, as Albert Hirschman has shown, many Enlightenment moralists saw commercial society as a moralizing force. Which view is right? This paper examines how many of the character traits that we commonly call virtues are rewarded—and so presumably reinforced and diffused—by the market. In this way, the market (as it were by a hidden hand) strengthens its own foundations and reproduces a moral culture that is functional to its own needs.
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Velte, Patrick. "Development and current criticism of asset impairment in German tax accounting." Corporate Ownership and Control 13, no. 1 (2015): 756–68. http://dx.doi.org/10.22495/cocv13i1c7p3.
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In German tax accounting, the going concern value (“Teilwert”) is the central measurement of asset impairment since 1934. The conceptual weaknesses of the concept have set the future of the 80-year old fiscal measurement tradition up for discussion. First, I shed light on the development of the accounting measurement concepts from Prussian Civil Code 1794 (ALR) to the German Income Tax Act 1934. Then, I analyse the main results of the current tax jurisdiction and draw a comparison to the German commercial law and the IFRS. I state that the creation of a common basis for measurement under commercial and tax law would be desirable, since the going concern value was understood as neither an exception, nor as being subject to the whims of targeted tax accounting policies. The provision of a purely indicator-based impairment test by the IASB is also recommended.
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Slim, Gargouri. "Singapore: Transfer Pricing Guidance Released." Intertax 43, Issue 6/7 (June 1, 2015): 477–81. http://dx.doi.org/10.54648/taxi2015045.
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Whether they are sales or purchase of goods, provision of services, borrowing or lending of money or use and transfer of intangibles, transactions between related parties present a high concern regarding possibilities to shift profits and to evade taxation, as related parties transacting with each other are highly exposed to set their pricing at a level which does not reflect market conditions due to a lack of independence in their commercial and financial relations. It is the case basically when related parties are located in different jurisdictions with different tax rates.
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Mooij, Hans. "Arbitration institutes forum: Arbitration Institutes: An Issue Overlooked." Intertax 47, Issue 8/9 (July 1, 2019): 737–44. http://dx.doi.org/10.54648/taxi2019072.
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Tax treaty arbitrations to date have only been rare. With the MLI and the Dispute Resolution Directive, however, numbers of arbitrations may reasonably be expected to go up. Authorities will have to face the question, whether they want to administer arbitrations themselves, or prefer to instead call on facilitation by professional arbitration institutes as is customary practice in such important areas as commercial or investment arbitration. Proper and effective administration will be a significant factor to the eventual success of tax treaty arbitration. Absent any guidance in either the MLI or the Dispute Resolution Directive, the issue requires careful consideration from authorities.
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Forte, Angelo D. M. "A Great Future Behind it? Scottish Commercial Law and the Millenium." European Review of Private Law 2, Issue 3/4 (December 1, 1994): 375–97. http://dx.doi.org/10.54648/erpl1994042.
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Abstract. Has Scottish commercial law become Anglicised and lost its separate identity? The major exponents of the ‘civilian’ school of thought, with their emphasis on Roman Law, thought that it had but that the victim might still be rescued provided Scots lawyers remembered their civilian heritage. This paper challenges the view that a civilian and Romanist approach has anything to offer modem Scottish commercial lawyers. It argues that economic imperatives outweight nationalist and parochial arguments and that not only Scots but also English commercial law has to make compromises. The paper also asserts the importance of marketing commercial law and argues that, in this respect, Scottish lawyers have shown themselves to be no less adept than their English counterparts. Far from being moribund, Scottish commercial law is thriving and vigorous and, most importantly, relevant to the needs of commerce in the UK, Europe, and beyond. Résumé. Le droit commercial écossais a-t-il commencé à être anglicisé et a-t-il de ce fait perdu son identitité? Les principaux tenants de l’école de pensée civiliste, qui insistent sur leur héritage romaniste, le pensent mais estiment que la victime pourrait en être sauvée si les juristes écossais se souvenaient de leur héritage civiliste. Le présent article défend l’idée selon laquelle une approche civiliste et romaniste a encore aujourd’hui quelque chose à offrir aux commercialistes écossais. Il y est en particulier soutenu que les impératifs économiques ont plus de poids que les arguments provinciaux et nationalistes et que ce n’est pas seulement le droit commercial écossais, mais aussi le droit anglais, qui doivent faire des compromis. L’auteur mentionne en outre l’importance du droit commercial relatif au marché et soutient à cet égard les juristes écossais ont montré qu’ils n’étaient pas moins habiles que leurs confrères anglais. Loin d’être moribond, le droit commercial écossais démontre ainsi sa vigueur et, ce qui est plus important, se révèle adapté aux besoins du commerce en Grande-Bretagne, en Europe, et au-delà.
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Cottani, Giammarco. "Formulary Apportionment: A Revamp in the Post-Base Erosion and Profit Shifting Era?" Intertax 44, Issue 10 (October 1, 2016): 755–60. http://dx.doi.org/10.54648/taxi2016065.
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In this article, the author analyses the advantages and drawbacks of adopting Formulary Apportionment (FA) as the governing mechanism for the commercial and financial relations between associated enterprises of multinational enterprises (MNE) groups. The author considers the origin of FA, which countries are adopting it, and what its future may be in light of the implementation of the base erosion and profit shifting (BEPS) Action Plan. In particular, the author suggests that international organizations should go more in depth on the analysis of the mechanism, from an empirical as well as a theoretical standpoint, as a by-product on the current work on the application of the profit split method carried out by the Organisation for Economic Cooperation and Development (OECD) in light of the BEPS project.
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Campbell, Linda J., Pamela C. Smith, and Veronda F. Willis. "Muddling Parity of an Energy Efficient Incentive—Through the Lens of “Change in Accounting Method”." ATA Journal of Legal Tax Research 13, no. 2 (June 1, 2015): 82–94. http://dx.doi.org/10.2308/jltr-51192.
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ABSTRACT The Internal Revenue Service issued guidance related to automatic changes in accounting methods for taxpayers taking a §179D deduction for Energy Efficient Commercial Building Property. However, while the accounting treatment of §179D may trigger a change in accounting method for some taxpayers, this is not uniform for all taxpayers. In this paper, we argue that with this guidance, the Treasury Department (and Congress, by initial approval of the tax law) has inadvertently broadened unequal tax treatment between different segments of qualified taxpayers attracted to this important energy efficient building incentive. Further, we suggest that the §179D deduction be modified to achieve taxpayer parity to further incentivize energy efficiency.
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Rosembuj, Tulio. "Abusive Transactions on Financial Hybrids." Intertax 39, Issue 5 (May 1, 2011): 234–47. http://dx.doi.org/10.54648/taxi2011028.
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Financial hybrids are the main purpose of structured financial operations by means of special purpose vehicles (SPVs), off the balance sheet. There is an essential element without which the systemic financial crisis may never be understood, that is, the exclusive tax purpose that was purportedly aimed by the financial, banking, and insurance companies. Abusive transactions on financial hybrids (futures, swaps, repos) were designed, as proven by the US and New Zealand jurisprudence, to simultaneously obtain financial and tax advantages. Financial hybrids may result from a commercial and corporate purpose but such is not the case for synthetic hybrids over the counter, which, blessed by credit rating agencies, used arbitrage as an ordinary pattern, aiming to take advantage of the lack of coordination between legal systems and the opacity and secrecy of the transactions themselves.
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STOCKMEYER, NORMAN OTTO. "Reflections on Teaching the First Day of Contracts Class." Michigan Academician 44, no. 3 (January 1, 2017): 337–46. http://dx.doi.org/10.7245/0026-2005-44.3.337.
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ABSTRACT A veteran of the law school classroom offers his thoughts on why Contracts is the most significant course in the first-year curriculum, why the study of contract law should begin with the subject of remedies, and why the “hairy hand” case of The Paper Chase fame makes an ideal starting point. The author also shares his first-day advice on how to succeed in law school. Along the way he explains why he prefers a problems-based casebook, opposes use of commercial briefs and outlines, and makes robust use of a course website.
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Castles, Margaret. "Marriage of convenience or a match made in heaven? Collaboration between a Law School Clinic and a Commercial Law Firm." International Journal of Clinical Legal Education 23, no. 2 (February 29, 2016): 7. http://dx.doi.org/10.19164/ijcle.v23i2.508.
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The cost of clinical legal education courses has always been a challenge to law schools. In the last 40 years clinicians have developed and trialed many different innovations in clinical law, in response to increased student demand for clinical experience, and greater pressure on the legal services market. Two common models are the in house clinic and the externship placement. This article explores the idea of a ‘reverse externship’ – with private solicitors coming into an in house clinic to assist in the supervision of students on placement. It tracks the development and implementation of this initiative, and reports on both the practical challenges and the pedagogical benefits that we encountered<strong>.</strong>
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Biegalski, Adam. "The Arm’s Length Principle: Fiscalism or Economic Realism? A Few Reflections." Intertax 38, Issue 3 (March 1, 2010): 177–86. http://dx.doi.org/10.54648/taxi2010020.
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One of the main problems of contemporary commercial and financial relations is the determination of a transfer price which would be acceptable by both tax payers and tax authorities. The article presents a critical approach to various attempts undertaken to determine a model of conduct for related entities adopted both in TPG and MC OECD. The author is of the opinion that this model does not reflect a trend seen in economic reality in tax law. Instead, he argues that the model expresses growing fiscalism. That is, the model of conduct currently used marginalizes a need to define a notion of the contemporary free market. In addition, the model does not take account the peculiarity of the related entities and their transactions. Furthermore, not enough reference is made to the possible impact of state intervention on the conduct known to tax authorities as the Code of Market Conduct.
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Yau, Barry, and David Catanzariti. "At Play in the Field of Dreams: Theorising Attitudes, Perceptions and Practices of Law Students in conjunction with the Reflections of Early Career Commercial Lawyers." Law in Context. A Socio-legal Journal 37, no. 1 (December 12, 2020): 114–33. http://dx.doi.org/10.26826/law-in-context.v37i1.116.
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Australian law schools are tasked with forming students in their knowledge and understanding of the law, with many students aiming to fulfil their dreams of pursuing a legal career. Utilising Bourdieu’s conceptual tools, this article considers whether aspirations of being “real lawyers” are significantly influenced by motifs of career success predominantly linked to an “elite” tier of law practice. The attitudes and perceptions of law students can also positively or adversely shape their career path amidst the information at play in the law school space. Drawing on qualitative data, we have applied Bourdieu’s tools to understand undergraduate and practical legal training students’ responses to notions of career accomplishment. This is contrasted with the reflections of early career commercial lawyers about their law school experiences. With comparisons to contemporary surveys and research on student services for law students, along with their wellbeing, the article reasons that the assorted ambitions of law students requires a law school environment promoting a more diversified perspective of “real law” and “real lawyering”.
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Jaiswal, Anindita. "Taxation of Foreign Institutional Investors in India: The Hanging Fire." Intertax 41, Issue 5 (May 1, 2013): 319–30. http://dx.doi.org/10.54648/taxi2013028.
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Foreign Institutional Investors (FIIs) have always remained influential players in India's investment market. However, India's tax regime in respect of FIIs has constantly undergone turbulent phases. To start with, the controversy pertained to classification of FII income under the income heads of business income versus capital gains, which classification was critical considering its tax chargeability and tax rate implications under India's direct tax laws. While this debate appears to have been put at rest by the 2008 ruling in LG Asian Plus Ltd. v. ACIT, uncertainties for FIIs in the context of non-resident taxation in India followed. The first limb of this uncertainty is found in the proposed General Anti-Avoidance Rules (GAAR) which seeks to implement the 'commercial substance' test if the Indian tax authorities believe that the transaction was undertaken only to avoid taxes or lacked commercial substance. This is proposed to apply notwithstanding that the transaction was routed through a tax friendly jurisdiction, and as per India's tax treaty with such jurisdiction, no tax liability arises in India. While effectuating of GAAR has been pushed back to 2016, the retrospective amendments of 2012 undertaken in India's Income Tax Act, 1961, pursuant to the Vodafone ruling by India's apex court, has brought FII taxation under radar. The amendment, which adopted the 'look through' approach against the 'look at' approach, may expose investors/P-Note Holders behind the FIIs to taxation in India, notwithstanding that the FII may be located in jurisdiction like Mauritius, with whom India has a favourable tax treaty. Also, as no time limit is prescribed for retrospective application of the amendment, the whip will keep hanging on FII investments time immemorial. Expert committees have been set up to scrutinize and settle these tax controversies and to create conducive tax environment for foreign investors in India, which is of utmost significance both, from an investment and economic standpoint. However, with the foregoing retrospective amendment in effect, it is to be seen how Indian authorities pacify FIIs from drawing out their investments from India amidst the tax qualms and mitigate the uncertainties and associated risks. This article discusses India's FII tax regime in light of the foregoing controversies, the prevailing uncertainties and challenges, their impact on FII investments in India, and India's consequent exposure to potential actions under bilateral investment treaties.
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CISG Advisory Council. "CISG Advisory Council Opinion No. 22." Nordic Journal of Commercial Law, no. 1 (November 6, 2022): 63. http://dx.doi.org/10.54337/ojs.njcl.1.7521.
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The CISG-AC started as a private initiative supported by the Institute of International Commercial Law at Pace University School of Law and the Centre for Commercial Law Studies, Queen Mary, University of London. The International Sales Convention Advisory Council (CISG-AC) is in place to support understanding of the United Nations Convention on Contracts for the International Sale of Goods (CISG) and the promotion and assistance in the uniform interpretation of the CISG. At its formative meeting in Paris in June 2001, prof. Peter Schlechtriem of Freiburg University, Germany, was elected chair of the CISG-AC for a three-year term. Dr. Loukas a. Mistelis of the Centre for Commercial Law Studies, Queen Mary, University of London, was elected secretary. The founding members of the CISG-AC were prof. Emeritus Eric E. Bergsten, Pace University School of Law, prof. Michael Joachim Bonell, University of Rome la Sapienza, prof. E. Allan Farnsworth, Columbia University School of Law, prof. Alejandro M. Garro, Columbia University School of Law, prof. Sir Roy M. Goode, Oxford, prof. Sergei n. Lebedev, Maritime Arbitration Commission of the Chamber of Commerce and Industry of the Russian Federation, prof. Jan Ramberg, University of Stockholm, Faculty of Law, prof. Peter Schlechtriem, Freiburg University, prof. Hiroo Sono, Faculty of Law, Hokkaido University, prof. Claude Witz, Universität des Saarlandes and Strasbourg University. Members of the council are elected by the council. At subsequent meetings, the CISG-AC elected as additional members prof. Pilar Perales Viscasillas, Universidad Carlos III, Madrid; prof. Ingeborg Schwenzer, University of Basel; prof. John Y. Gotanda, Villanova University; Prof. Michael G. Bridge, London School of Economics; prof. Han Shiyuan, Tsinghua University and Prof. Yeşim Atamer, Istanbul Bilgi University, Turkey, prof. Ulrich G. Schroeter, University of Mannheim, Germany, prof. Lauro Gama, Pontifical Catholic University, Justice Johnny Herre, Justice of the Supreme Court of Sweden, prof. Harry M. Flechtner, University of Pittsburgh, prof. Sieg Eiselen, Department of Private Law of the University of South Africa, and prof. Edgardo Muñoz López, Universidad Panamericana, Guadalajara, México. Prof. Jan Ramberg served for a three-year term as the second chair of the CISG-AC. At its 11th meeting in Wuhan, People's Republic of China, prof. Eric E. Bergsten of Pace University School of Law was elected chair of the CISG-AC and prof. Sieg Eiselen of the Department of Private Law of the University of South Africa was elected secretary. At its 14th meeting in Belgrade, Serbia, prof. Ingeborg Schwenzer of the University of Basel was elected chair and at its 24th meeting in Antigua, Guatemala, prof. Michael G. Bridge of the London School of Economics was elected chair of the CISG-AC. At its 26th meeting in Asunción, Paraguay, ass. Prof. Milena Djordjević, University of Belgrade, Serbia, was elected secretary, and she was reelected short after the 30th meeting in Rio de Janeiro. Prof. Pilar Perales Viscasillas of the University Carlos III of Madrid was elected chair of the CISG-AC after the 30th meeting in Rio de Janeiro.
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Deines, Dan S., Joseph Bittner, and Glenda Eichman. "The Accounting Pilot and Bridge Project." Issues in Accounting Education 27, no. 1 (December 1, 2011): 113–22. http://dx.doi.org/10.2308/iace-50111.
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ABSTRACT The accounting profession will experience a 50 percent decline in its ranks in the next ten years as accounting professionals from the Baby Boomer generation retire. To replace these professionals, the accounting profession will have to compete with law, medicine, engineering, and other professions that will also be replacing their “boomers.” During the period the boomers are retiring, the number of high school graduates is expected to decline, which suggests that the currently high accounting enrollments are unlikely to continue. If the accounting profession is to compete for the best and brightest students in the future, it is in its best interest to address structural impediments that exist in its educational supply chain. One significant structural impediment in the supply chain is the traditional high school accounting course. In 2000 the AICPA's Taylor Report stated high school accounting courses were a “systemic barrier” to entry into the profession for the very high school students the profession wants to attract (Taylor 2000). These courses have not changed substantially since the Taylor report was issued. The Accounting Pilot and Bridge Project (The Project) proposes to eliminate this barrier and has created a new college-level high school accounting course that provides college credit for those students who take the course and pass a rigorous qualifying examination. The Project is modeled after the College Board's highly successful Advanced Placement (AP) program. Once specific goals are achieved, The Project plans to submit a proposal to the College Board for it to adopt accounting as part of its Advanced Placement curriculum. After describing the research and initiatives that led to the creation of The Project, this paper discusses the goals of The Project, the process to have accounting added to the College Board's AP Curriculum, the curriculum used in the pilot course, the progress made to date, and what lies ahead.
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Greggi, Marco. "Neutrality and Proportionality in VAT: Making Sense of an (Apparent) Conflict." Intertax 48, Issue 1 (January 1, 2020): 122–31. http://dx.doi.org/10.54648/taxi2020009.
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Neutrality and proportionality are two features of the European VAT that often come into play when judiciary is requested to rule on alleged frauds to the tax. According to the well settled case law of the European Court of Justice (ECJ) the right to deduct VAT can’t be granted when such a fraudulent operation occurs. In the EN.SA. case, to the opposite, the Court rules that neutrality is to be preserved even when the operation invoiced did not actually take place, if very specific circumstances are met: namely, that no loss for the national budget occurred, that the company invoiced was not actually planning to erode its tax liability for VAT purposes and that the non-existent operation was simulated for other commercial purposes (not directly affecting the tax due). This conclusion is made possible making the principles of proportionality (and reasonableness) to prevail over a mechanical application of the tax that would otherwise prevent the right to deduct the tax charged. VAT, neutrality, proportionality, reasonableness, fraud, carousel, invoice, administrative sanction.
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Savitskiy, Andrey. "Tax in History: The First Tax Treaties: In Search of Origins." Intertax 49, Issue 6/7 (June 1, 2021): 569–85. http://dx.doi.org/10.54648/taxi2021058.
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The author seeks to discover sources and predecessors of the first international tax treaties that laid the foundation for the treaties on avoidance of double taxation. In doing so, he explores Russian and foreign bibliography as well as international and national legislation. The article, for the first time, contends that the S.-Petersburg commercial treaty between Russia and France of 31 December 1786 and the Convention between Russia and Saxony of 20 August 1800 may be regarded as the first tax treaties aimed at avoidance of international double direct taxation. Additionally, the prerequisite for concluding the convention was the situation of international double taxation caused by imposing the duty on the transfer of inherited estates by foreign heirs abroad. The historical method and contextual analysis were additionally employed to reconstruct the genetic development of avoidance of international double taxation. The work posits that the predecessors of the OECD and the UN Models of the twentieth century were much older and of better quality than it might be commonly assumed.
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Stevens, Stan A. "Tax Aid and Non-profit Organizations." EC Tax Review 19, Issue 4 (August 1, 2010): 156–69. http://dx.doi.org/10.54648/ecta2010021.
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Many services and goods are supplied by non-profit organizations. These social enterprises have a hybrid character, because they possess characteristics of governmental and commercial organizations. Therefore, these social enterprises are also called private-public sector enterprises (PPSEs). Very often PPSEs will qualify as an undertaking within the meaning of the European Union (EU) Treaty, and as a consequence, the EU completion rules will be applicable. On grounds of the non-profit character and/or the activities of the PPSE in the general interest, PPSEs also often benefit from a special tax regime: (partial) exemption or other tax provision. The question arises then whether that regime qualifies as a preferential tax measure that constitutes fiscal State aid. In this analysis, special attention must be paid to the fact that in many cases PPSEs will operate a service of general economic interest, which could justify tax aid. However, in this article, it will be argued that it is very difficult to design tax measure in a way that they are compatible with the strict conditions that the European Court of Justice (ECJ) applies.
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van Os, Pieter. "Interest Limitation under the Adopted Anti-Tax Avoidance Directive and Proportionality." EC Tax Review 25, Issue 4 (August 1, 2016): 184–98. http://dx.doi.org/10.54648/ecta2016020.
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This article scrutinizes the compatibility of the interest limitation rule the European Union (EU) legislature included in its anti-tax avoidance directive adopted on 12 July 2016 with the proportionality principle. Under its settled case law concerning domestic interest limitation rules restricting a fundamental freedom for purposes of combating tax avoidance practices, the European Court of Justice (ECJ) holds that such measures do not comply with the principle of proportionality if they, amongst others, either do not provide the taxpayer with an opportunity to substantiate the commercial reasons for not entering into an arm’s length loan arrangement, or restrict the deductibility of more interest than an arm’s length interest. As the rule does neither adhere to the counterevidence rule nor to the arm’s length principle, it is questionable whether its status as secondary EU law suffices for purposes of disregarding the aforementioned limitations set by the ECJ. Amongst others, the author takes the view that on the basis of ECJ case law, the interest limitation rule may be considered incompatible with the proportionality principle.
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KEBIECHE, Mahmoud, Mohamed HIMRAN, and Abderrezak LARIOUI. "Accounting and fiscal obligations for agricultural cooperatives." Journal of Finance & Corporate Governance 4, no. 2 (December 31, 2020): 17–31. http://dx.doi.org/10.54960/jfcg.v4i2.55.
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This study aims to research the legal and regulatory reference for sectoral accounting in agricultural cooperatives, where we adopted in this research the analytical approach in researching the various laws and legislations that regulate and structure the activity of farmers in order to limit the laws related to the sector and related to accounting and fiscal procedures And we have found through this research that agricultural cooperatives are legal entities that operate within the framework of civil law, and they have a non-profit objective, and this is the opposite of their affiliates who have a commercial personality and are subject to various laws related to accounting and preparing financial statements, as well as submission for different tax obligations according to the nature of each taxpayer