Store International UCITS and Taxation. Towards the Harmonization of the Taxation of UCITS

UCITS and Taxation. Towards the Harmonization of the Taxation of UCITS

By Raymond P.C. Adema
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Hardcover
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Overview

Undertakings for the Collective Investment of Transferable Securities (UCITS) involve collective investment funds, which are authorized to market their units among countries within the European Union. The objective of the original UCITS directive was to allow for open-ended funds investing in transferable securities to be subject to the same regulation in every Member State. It was hoped that once such legislative uniformity was established throughout Europe, funds authorized in one Member State could be sold to the public in each Member State without further authorization, thereby furthering the EU’s goal of a single market for financial services in Europe.

Unfortunately, the reality differed somewhat from the expectation.

This insightful work examines the taxation of UCITS in Austria, Germany, the Netherlands, and the United Kingdom. It analyzes the tax consequences of the cross-border trade in units of UCITS for unitholders residing in the countries examined. It also features a number of recommendations to remove the tax advantages and disadvantages that occur in cross border trading.

Pages 576
Publish Date 12/09/2009
Product Line Kluwer Law International
ISBN 9789041128393
SKU 9041128395
Table of Contents

Preface List of Statutes Introduction Part I Introduction of the Concept and the Taxation of Undertakings for Collective Investment in Transferable Securities Chapter 1 Introduction of the Concept of Undertakings for Collective Investment in Transferable Securities Chapter 2 Introduction of the Taxation of Undertakings for Collective Investment in Transferable Securities Part II Taxation of the Income at Source Chapter 3 Taxation of Income from the Underlying Investments in the Source State Chapter 4 Comparison of the Source Taxation of Income Derived by Way of Austrian, German, Netherlands, and United Kingdom – Resident Undertakings for Collective Investment in Transferable Securities Chapter 5 Distortions to the Cross-Border Trade in Units of Undertakings for Collective Investment in Transferable Securities Caused by Differences in the Source Taxation Part III Tax Liability of Undertakings for Collective Investment in Transferable Securities Chapter 6 Taxation of Income from the Investments in the Undertakings for Collective Investment in Transferable Securities Country Chapter 7 Comparison of Taxation of Income from the Investments in the UCITS Country Undertakings for Collective Investment in Transferable Securities Chapter 8 Distortions to the Cross-Border Trade in Units of UCITS Caused by Differences in Taxation in the UCITS Country Part IV Tax Liability of the Unitholders Preface to Chapters 9–12 Chapter 9 Austria: Taxation of Income from Investments in the Country of the Unitholders Chapter 10 Germany: Taxation of Income from Investments in the Country of the Unitholders Chapter 11 The Netherlands: Taxation of Income from Investments in the Country of the Unitholders Chapter 12 The United Kingdom: Taxation of Income from Investments in the Country of the Unitholders Chapter 13 Comparison of Taxation in the Unitholder Country of Income Derived by Way of Austrian-, German-, Netherlands-, and UK-Resident UCITS Chapter 14 Distortions to the Cross-Border Trade in Units of UCITS Caused by Differences in the Taxation in the Unitholder Country Part V Removal of Tax Advantages and Tax Disadvantages Chapter 15 Analysis and Recommendations Bibliography Index.

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