TAXATION OF CAPITAL GAINS UNDER THE OECD MODEL CONVENTION WITH SPECIAL REGARD TO IMMOVABLE PROPERTY2025|PDF|Epub|mobi|kindle电子书版本百度云盘下载

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Chapter Ⅰ The Capital Gains Article in the Model Conventions Drafted Under the Auspices of the League of Nations1

1. International Double Taxation after World War 11

2. 1923 Report4

2.1 Economic Consequences of International Double Taxation6

2.2 Basis of Taxation and the Elements of Economic Allegiance6

2.3 Economic Allegiance and Classification of Wealth for Tax Purposes9

2.4 General Methods of Avoiding Double Taxation22

3.1925 Report23

4.1927 Draft25

5.1928 Drafts28

5.1 1928 Report28

5.2 1928 Drafts No.la and Ic31

5.2.1 Article 2 - Income from Immovable Property32

5.2.2 Article 3 - Income from Bonds, Loans and Deposits and Article 4 - Income from Shares38

5.2.3 Article 5 - Business Income39

5.2.4 Article 9 - Annuities40

5.2.5 Article 10 - Personal Taxes44

5.2.6 Article 12 - Property Taxes45

5.3 1928 Draft No.Ib47

6. Non-Inclusion of Capital Gains in the 1927 and 1928 Drafts47

7. Work of the Fiscal Committee 1929-193956

7.1 1929 Report and 1930 Report56

7.2 1931 Plurilateral Drafts58

7.3 1933 Draft and 1935 Draft59

7.4 1936-1939 Reports62

8. 1940 Drafts65

8.1 Work of the Fiscal Committee in 194065

8.2 Carroll’s 1940 Draft65

8.2.1 Carroll’s 1940 Study65

8.2.2 Article Ⅷ - Gains Derived from the Sale of Immovable Propetyy67

8.2.3 Article Ⅻ - Gains Derived from the Sale or Exchange of Capital Assets Other than Immovable Property70

8.3 1940 Hague Draft75

8.3.1 1940 Hague Report75

8.3.2 Article 12 - Capital Gains77

8.3.3 Article 12（1） - Gains Derived from the Sale or Exchange of Real Property79

8.3.4 Article 12（2） - Gains Derived from the Sale or Exchange of Business Property80

8.3.5 Article 12（3） - Gains Derived from the Sale or Exchange of Other Capital Assets82

8.4 1940 Mexico Draft83

8.4.1 1940 Mexico Report83

8.4.2 Article 12 - Capital Gains86

8.4.3 First Step in the Revision of the 1928 Drafts90

9. 1943 Mexico Draft92

9.1 Work Accomplished Between First and Second Regional Tax Conferences92

9.2 1943 Mexico Report99

9.3 Article Ⅻ - Capital Gains100

9.3.1 Limited Scope100

9.3.2 Gains Derived from the Sale or Exchange of Real Property113

10.1946 London Draft114

10.1 Reconsideration of 1943 Mexico Draft114

10.2 1946 London Report115

10.3 Article Ⅻ - Capital Gains117

10.3.1 Scope117

10.3.2 Article Ⅻ（1） - Gains Derived from the Sale or Exchange of Real Property118

10.3.3 Article Ⅻ（2） - Gains Derived from the Sale or Exchange of Business Assets118

10.3.4 Article Ⅻ（3） - Gains Derived from the Sale or Exchange of Other Capital Assets119

Chapter Ⅱ Definition of Capital Gains in Article 13 of the OECD Model121

1. Definition of Capital Gains in Domestic Systems121

1.1 Conceptual Problems in Defining Capital Gains for Tax Purposes121

1.2 Historical Development of Capital Gains Taxation123

1.3 Lack of an International Common Definition of Capital Gains126

1.4 No Generally Accepted Approach to Capital Gains Taxation127

1.5 Capital Gains Taxation: Main Issues128

1.5.1 Criteria for Type of Tax Regime129

1.5.2 Definition of Capital Asset131

1.5.3 Realization Requirement131

1.5.4 Definition of Alienation132

1.5.5 Bunching133

1.5.6 Calculation133

1.5.7 Anti-Abuse134

2.Nature Of Capital Gains Under the OECD Model137

3.Gains Covered by Article 13142

3.1 The Term ‘Capital Gains’142

3.1.1 Use of the Term in Article 13142

3.1.2 Relevance of Headings of Treaty Articles143

3.1.3 Use of the Term in the OECD Commentary145

3.1.4 Terms Affecting the Scope of the Article146

3.2 Definition of Property147

3.3 Definition of Gains150

3.4 History of Gains Covered by Article 13151

3.5 Other Model Conventions and Treaties160

3.6 Preliminary Comments164

3.7 Article 7 and Article 13: Interaction169

3.7.1 Scope of Article 7169

3.7.2 Article 7 and Article 13: Attribution of Taxation Rights170

3.8 Final Remarks173

4.Definition of Alienation175

4.1 Independent Treaty Meaning vs.Domestic Law Definition175

4.1.1 History of Terms Used in the Model Conventions for the Event Giving Rise to Capital Gains176

4.1.2 OECD Commentary Position182

4.2 Appreciation in Value of Property185

4.2.1 Taxation of Unrealized Gains185

4.2.2 Applicability of Article 22187

4.2.3 Consistency of Article 7-Article 21 Treaty Regime with Article 13 Regime188

4.2.4 Remarks191

4.3 Change in the Use of a Capital Asset191

4.4 Final Remarks195

Chapter Ⅲ Gains Derived from the Alienation of Immovable Property （Article 13（1））197

1. OECD Model and Other Model Conventions197

1.1 OECD Model197

1.2 Other Model Conventions198

2. Purpose of Article 13（l）201

3. Geographical Scope of Article 13（1）202

3.1 Bilateral Reach202

3.2 Versions in 1963 OECD Model and 1977-2005 OECD Models203

4. Cases outside the Bilateral Reach of Article 13（1）206

4.1 Applicability of Article 13（5）206

4.1.1 Scope206

4.1.2 Two Relevant Factors207

4.1.3 OECD Commentary Position209

4.1.4 Historical Analysis212

4.1.5 Remarks213

4.2 Alternatives to Article 13（5）215

4.2.1 Article 7 and Article 21215

4.2.2 Scope and Purpose of Article 7219

4.2.3 Scope and Purpose of Article 21220

4.2.4 Interaction of the Two Articles223

4.2.5 Applicability of Article 21 to Capital Gains226

4.2.6 Remarks227

5.Article 13（1） and Article 13（2）: Interaction227

5.1 Situs Rule vs.Permanent Establishment Rule227

5.2 Immovable Propetyy in Permanent Establishment State229

5.2.1 Capital Gains229

5.2.2 Income from Immovable Propetyy230

5.2.3 Taxation of Capital231

5.3 Immovable Property in Residence State231

5.3.1 Capital Gains232

5.3.2 Income from Immovable Property233

5.3.3 Taxation of Capital234

5.4 Immovable Property in a Third State234

5.4.1 Capital Gains235

5.4.2 Income from Immovable Property237

5.4.3 Taxation of Capital238

5.5 Cases: Summary239

5.6 Situs Rule in the OECD Model241

6. Definition of Derived246

6.1 Domestic Law Definition vs.Autonomous Definition246

6.2 History247

6.2.1 ‘Derived’ in the League Model Conventions247

6.2.2 Alternative Terms in the League Model Conventions253

6.3 Use of ‘Derived’ in Article 13255

6.3.1 OECD Model255

6.3.2 From 1946 London Draft to 1977 OECD Model257

6.4 Use of ‘Derived’ in the Other OECD Model Articles259

6.4.1 Article 6259

6.4.2 Article 10（5）259

6.4.3 Article 15260

6.4.4 Article 16261

6.4.5 Article 17262

6.4.6 Article 23263

6.4.7 French Version265

6.4.8 Remarks266

6.5 Alternatives to ‘Derived’ in the OECD Model266

6.5.1 Income or Gains from Something268

6.5.2 Profits of Something Carried on by a Person268

6.5.3 Income of a Person270

6.5.4 Income Paid270

6.5.5 Income Received271

6.5.6 Income Beneficially Owned by a Person271

6.5.7 Income Arising in a State272

6.5.8 Income Accrued to a Person273

6.6 Final Remarks273

7. Definition of Immovable Property in Article 13（1）275

7.1 Cross Reference to Article 6275

7.1.1 Scope of Article 6（2）275

7.1.2 History277

7.1.3 ‘As Defined in Paragraph 2 of Article 6’ vs.‘Referred to in Article 6’280

7.2 Article 6（2）: Definition of Immovable Property286

7.2.1 History286

7.2.2 Structure288

7.2.3 Article 6（2） and Article 3（2）289

7.2.4 Definition of Law291

7.2.5 Definition of Situated298

7.2.6 Definition of Terms in Positive and Negative List302

7.2.7 Consistency for Purposes of Applying Article 13（1）303

7.2.8 Consistency for Purposes of Applying Article 13（5） and Article 21304

Chapter Ⅳ Gains Derived from the Alienation of Shares in Immovable Property Companies （Article 13（4））307

1. OECD Model AND Other Model Conventions307

1.1 OECD Model307

1.2 Other Model Conventions307

2. Indirect Alienation of Immovable Propetyy and Tax Treaties313

2.1 Domestic Sourcing Provisions313

2.2 Domestic Sourcing Provisions and Tax Treaties: Interaction315

3. Inclusion of Article 13（4） in OECD Model318

3.1 Purpose and Nature of Article 13（4）318

3.2 Article 13（4） and the Improper Use of Tax Treaties320

4. Geographical Scope of Article 13（4）324

4.1 Bilateral Reach324

4.2 Cases within the Bilateral Reach of Article 13（4）325

4.2.1 Immovable Property Company Resident in the Situs State325

4.2.2 Immovable Property Company Resident in the Residence State326

4.2.3 Immovable Property Company Resident in a Third State327

4.3 Cases Outside the Bilateral Reach of Article 13（4）328

4.3.1 Relevant Immovable Property in the Residence State328

4.3.2 Relevant Immovable Property in a Third State329

5. Article 13（4） and Article 13（2）: Interaction330

5.1 Shares of an Immovable Propetyy Company Forming Part of the Business Propetyy of a Permanent Establishment330

5.2 Immovable Property in the Permanent Establishment State331

5.3 Immovable Propetyy in the Residence State333

5.4 Immovable Propetyy in a Third State335

5.5 Inconsistency338

5.6 Possible Solutions340

6. Scope: Gains Derived From Alienation of Shares341

6.1 Definition of Shares341

6.1.1 Exclusion of Interests in Other Entities343

6.1.2 Exclusion of Other Interests in Joint-Stock Companies345

6.2 Alienation of Shares347

6.2.1 Non-Substantial Shareholdings348

6.2.2 Listed Shares348

6.2.3 Corporate Reorganizations350

6.2.4 Shares Held by Pension Funds352

7. Definition of Immovable Property Company353

7.1 Value Test353

7.2 Definition of Immovable Property354

7.2.1 Applicability of Article 6 Definition354

7.2.2 Immovable Propetyy in which a Business is Carried on357

7.3 Sources from which the Shares Derive Their Value359

7.3.1 Relevant Propetyy359

7.3.2 Definition of Value363

7.4 When the Value Test Must Be Met365

7.5 Direct or Indirect Derivation of Value367

7.6 Indirect Derivation of Value: Multi-Tier Chains of Companies373

7.7 Compatibility of the Value Test with the Purpose of the Provision375

7.7.1 Application Requirements376

7.7.2 Attribution of Taxation Rights377

7.7.3 Proposed Solution380

8. Obtaining Information and Collecting Taxes381

9. Double Exemption384

10. Effects of Introduction of Article 13（4） on the Attribution of Taxation Rights385

10.1 Indirect Ownership Structure and Related Attribution of Taxation Rights385

10.2 Attribution of Taxation Rights Before the Introduction of Article 13（4）385

10.3 Attribution of Taxation Rights after the Introduction of Article 13（4）386

10.4 Points for Further Discussion389

11.Article 13（4） And Substantial Interest Provisions: Interaction390

11.1 Substantial Interest Provisions390

11.2 Interaction when Contained in the Same Treaty392

11.3 Interaction when Contained in Different Treaties Applicable to the Same Alienation Of Shares392

Bibliography395