Monrovia – The International Bureau of Fiscal Documentation (IBFD) Headquartered in the Netherlands has launched its latest publication on its International Tax law Series, focusing on Taxation of Shipping and Air Transport in Domestic Law, EU Law and Tax Treaties.
The current publication includes Sections on Liberia, authored by Liberian Taxation Expert and Academic, Theophilus Dekonty Joseph of T.D. Joseph and Associates, Certified Public Accountants.
The work comprises the proceedings and working documents of the annual Seminar held in Milan, Italy in November 2016, and details taxation practices of highly transnational industries engaged in the shipping and air transport sectors.
The publication includes a comparative analysis of the domestic regulatory and tax regimes of such industries and then examines the influence of EU law on national laws, with particular emphasis on the jurisprudence of the Court of Justice of the European Union on tonnage taxation systems and Value Added Tax (VAT) regimes.
The book cover selected tax treaty issues, providing analyses of the historical background and the proposed changes to Articles 8 and 15(3) of the Organization for Economic Cooperation and Development (OECD) Model Convention; the recent developments concerning Article 8 of the OECD Model Convention and the application of the place of effective management criterion, instead of the residence criterion, as connecting factor.
The publication also covers the most relevant tax treaty issues related to the qualification, allocation and apportionment of income derived by shipping and air transport activities; and the taxation of the remuneration of crews of ships and aircraft.
Individual Country surveys provides an in-depth analysis of the domestic tax regimes and actual tax treaty applications and practices of various States, including Australia, Austria, Brazil, Canada, China, Hong Kong, Denmark, Greece, Italy, Liberia, the Netherlands, Spain, Switzerland, and the United Kingdom.
The segment on Liberia, prepared by Prof. Joseph covers such exclusive areas as the Practice and Nature of Rules Governing Shipping and Air Transport; impact of International Agreements on Attribution of Nationality to Ships and Aircrafts; Taxation of Shipping and Air Transport Activities; Categorization of income stemming from Shipping activities; among others.
The IBFD is the world’s foremost authority on cross-border taxation. Tax practitioners from all over the world rely on its high-quality, independent tax researches.
The book presents a unique and detailed insight into the Taxation of Shipping and Air Transport activities in an international context and is therefore an essential reference source for Students of International Taxation, Tax Authorities, Tax Practitioners and Academics.