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TAXATION > Midterm > Flashcards

Midterm Flashcards

1
Q

Tributes

A

Fees, special contributions, and taxes

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2
Q

Fees

A

A certain economic amount is paid in exchange for the receipt of a service. Example: University fees paid by students for the tuition.

locally

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3
Q

Special contributions

A

There is a direct relationship between the amount that is paid, and the service received. Example: Asphalting of a street.

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4
Q

Taxes

A

There is no special consideration, and its amount depends on the taxpayer´s ability to pay. These can be:

Direct: Must be paid by the person who bears it. (Example: Personal income tax)
Indirect: They tax the indirect manifestation of the economic capacity of the subject, for example, VAT or the so-called excise duties that fall on alcohol and tobacco. It is supported by the final consumer but must be entered by the one who has provided the service. The taxable person is different from taxpayer.

global, general

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5
Q

Taxable event

A
  • It is the budget of a legal or economic nature established by law and whose realization originated the beginning of the tax obligation.
  • This same legal provision will establish cases of non-subjection and cases of exemption.
Defined according to the nature oof the tax
No taxable event- no tax 
- purchase something
- sell something
- income

Accure on the time of the tax

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6
Q

Cases of non-subjection

A

The taxable event is not considered to have occurred.

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7
Q

Exemption assumptions

A

The taxable event does occur but the law understands that for different reasons it should not be taxed.

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8
Q

The passive subject

A

It is the taxpayer. Technically, it is defined as the natural or legal person who, by carrying out the provisions of the taxable event established by the tax regulation, is obliged to comply with the tax obligation.

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9
Q

The tax domicile

A

In the case of natural persons it is their habitual residence, and in the case of legal persons it is their registered office provided that their administrative management and the direction of their businesses are centralized in this.

  • personalist
  • territory
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10
Q

The tax base

A

In each tax, the law that is applicable to it will establish the methods to determine what is this taxable base that is subject to taxation.

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11
Q

The liquid taxable base:

A

It is the result of applying to the tax base the reductions that are legally determined. For example, the charges and debts of the inheritance in the case of inheritance and gift tax.

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12
Q

The tax rate:

A

It is the example that in each case is applied to the taxable quota. For example, in corporation tax the general tax rate is 25%.

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13
Q

The tax share:

A

It can be determined according to the type of tax that is applied, according to the amount that is legally fixed or jointly, by both systems.

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14
Q

The tax debt:

A

It is configured by the tax quota as well as by the surcharges that are payable on the installments, such as default interests, costs, etc.

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15
Q

Principles of taxation

A 
Economical capacity
Principle of equality
Principle of generality
Principle of progressiveness
Principle of non-confiscation
Principle of legality
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16
Q

Direct taxes

A

income, wealth

17
Q

Indirect taxes

A

consumption

18
Q

Factors that influence fiscal harmonization and management

A
  • Increasingly globalized economies
  • High mobility of the factors of production, especially of capital
  • Existence of supranational bodies (EU) that promote economic integration of their members
  • Balance between the fiscal harmonization needed to underpin Integration processes and the maintenance of taxation as an instrument of economic policy at the national level
  • The free movement of capital and the reduction of transport and communications costs, in short, globalization, together with national tax competition strategies, establish a context in which cross-border investments and business competitiveness itself in open economies are influenced by tax elements.
19
Q

Double taxation calculation methods

A
  • imputation

- exemption

20
Q

Sovereign power, tax power

A
  1. The exclusivity of the right of each State to exercise the power of taxation
    within its territory.
  2. The external limitation to the exercise of its power to tax outside its
    borders
  3. The possible recognition of the fiscal impact of an act or legal act
    occurring in another foreign State within the territory of the national
    State.
21
Q

Dual perspective of taxation

A
  • Legal double taxation, which occurs when the same income of the same taxpayer is taxed in two different States by a similar tax
  • Economic double taxation, which originated when the same income is taxed in two different States by two different taxes and at the residence of two different taxpayers.
22
Q

Sovereign power- criteria

A
  • personalist criterion (nationality or residence)

- territorial criterion (income, own property or holders of economic rights)

23
Q

Reasons for double taxation

A
  1. The subjective element of a taxable event is the same in two different states.
  2. The objective element of a taxable event is subsumed into the broader objective element of another taxable event.
  3. When the subjective element of the taxable event is different. This is the case when one State uses nationality to determine taxability to those taxes, while another uses the criterion of residence.
  4. Double taxation also occurs when two States apply territoriality criteria to tax specific incomes and, in addition, use different connection points to ascribe the income to their territories
  5. Double taxation may also occur because of discrepancies in the definition of the taxable amount.
24
Q

Jurisdiction tax regulations

A
  • International conventions that include a clause on international cooperation between tax administrations
  • The directives of the EU that impose duties on its member states in regard of its taxes
  • In cases where there is no international agreement, especially with:
  • tax havens
  • the fight against tax fraud
25
Q

The OECD Model on an international convention to avoid double taxation:

A
  • Income and wealth taxes
  • To prevent tax fraud
  • Inheritance
  • Gift taxes
26
Q

Two different perspectives, tax regulations

A
  1. The perspective of international conventional law

2. The European communion law

27
Q

Direct taxation levels

A
  • national level
  • international law level
  • community level
28
Q

International sovereignty- taxes

A
  • Internal: power of the State over the tax payer
  • External: that the sovereign state taxing
    powers coexist in a parity type of order, which
    is the international order. The State proceeds
    to develop fiscal relations with other States.
29
Q

UE taxation

A

I. The direct Taxation, which falls within the exclusive competence of the Member States
II. The indirect taxation, affecting the free movement of goods and the freedom to provide
services on the single marketo.

30
Q

Anti-tax avoidance rules in four specific areas to combat BEPS

A
  1. Rules for the limitation of interest
  2. Rules of exit taxation
  3. General rule against abusive practices
  4. Rules concerning controlled foreign companies
31
Q

Community institutions

A

normative actions of the European Union consisting of imposing on the Member States a duty to collaborate among themselves for the
application of taxes,

32
Q

Double taxation conventions limited to international navigation

A
  1. Conventional regulations

2. Internal regulations

33
Q

Elimination of double taxation (arbitration)

A

1- Amicable procedure

2.- Advisory commission

34
Q

Indirect taxes on raising capital

A

The directive applies to:

  • limited companies
  • limited partnerships with share capital
  • limited capability companies
35
Q

Charging on heavy goods vehicles

A

Eurovignette Directive

36
Q

BEPS

A

to avoid moving profit to lower tax countries (profit shifting)

37
Q

International sovereignty

A

➢ Sovereignty as the confluence of the Tax Powers of various States on manifestations of wealth
that exceed their territorial limits
➢ Cooperation of other States to make their tax claims effective is necessary, given the mobility of
its taxpayers and their income and assets
➢ Taxes: the power to dictate a system of taxes, whether by legislative or regulatory means, which
has a technical autonomy in relation to the systems likely to enter into competition with it,
exercising such sovereignty within its field of territorial competence
▪ Internal: power of the State over the tax payer
▪ External: that the sovereign state taxing powers coexist in a parity type of order, which is
the international order. The State proceeds to develop fiscal relations with other States.
➢ European Union will limit the power of each country which will delegate the power = Treaty on
European Union.
➢ Attributions and competences
➢ Responsibility of International Law for States that violate foreign territory

38
Q

Territoriality

A
  1. Principle of personality
  2. Real or protective principle
  3. Principle of supplementary justice
39
Q

International cooperation in the application of taxes

Legal framework

A
  1. International Conventional Law

2. Derived Community Law

TAXATION (4 decks)

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