The Taxation of Nonrenewable Natural Resources

We provide an analytical overview of the distortionary eff ects of some common forms of taxes faced by the nonrenewable resources sector of the economy. In the category of taxes meant speci fically to capture the resource rent, we look at a speci c severance tax, an 'ad valorem' severance tax, a profi t tax and a 'lump-sum' tax, with emphasis on their e ffects on the extraction decisions over time and on the initial reserves to be developed. In the category of taxes meant for all sectors of the economy, we look at the corporate income tax and its special provision for the resource sector in the form of a depletion allowance, with emphasis on the eff ects on the intra-industry resource extraction decisions and on the inter-industry allocation of investment.

Expanding Concept of Sale the Taxation Dilemma

School of Legal Studies, Cochin University of Science & Technology

The power of taxation under the indian constitution

The Power Of Taxation Under The lndian Constitution, the subject of the present thesis has a wide ambit covering the entire federal field end deep constitutional significance traversing many of the principles like pith and substance, colourability, severebility etc. However, considerations of time, space and areas already investigated have indicated that the present study may be confined to the fundamental constitutional limitations end the federal problem. Thus the effect of fundamental rights, the commerce clause, immunity of instrumentalitis and the principle limiting the power of legislative delegation on the power of taxation has been studied. The distribution of taxes between the Union and units of the Indian federation leans so much over to the former and that part of this study has been directed to discover what devices can help the units to gain economic viability

The mutual agreement procedure and arbitration of double taxation disputes

It is in the interest of most states to eliminate double taxation (i.e. the payment of the same tax in two jurisdictions) of transnational commercial enterprises. Because such disputes involve, on the one hand, the state imposition of taxes, a right universally asserted by all states, and private entities on the other, taxation disputes between such parties are not, on their face, easily susceptible to arbitration. This article analyzes two dispute settlement procedures-the OECD First Model Tax Convention and a similar EU Convention-with the exclusive focus on disputes relating to the imposition of double taxation. It will look at the ways in which state roles may vary under these procedures from assisting in the negotiation process to taking a part similar to, but with important differences from, diplomatic protection on behalf of an affected enterprise. The article will examine the situations under which the settlement procedure is required and/or available, how the procedures are triggered, the obligations and parts played by the parties, the means by which the disputes are resolved (from negotiations to tribunals) and the limitations of the procedures. Are they “taxpayer friendly”? As a result the reader may draw comparisons between the two procedures. Finally, the article will look at the proposed OECD Arbitration Clause which is intended to be incorporated into Article 25 of the OECD Model Tax Convention as well as how these mechanisms relate and/or conflict with bilateral tax treaties and the GATS.