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Hong Kong needs a comprehensive and formal regime of corporate rescue that is supported by statute. In Hong Kong, the old «Scheme of Arrangement» has received too much criticism, and the Law Reform Commission proposed «Provisional Supervision» in the Companies Bill, but the Bill did not pass the voting by legislature council of Hong Kong because of too much resistance that come from shareholders ...
Common Consolidated Corporate Tax Base (CCCTB) is an ambitious tax reform project under EU law, to harmonize corporate income tax base on a group basis at the EU level, and use a pre-determined formulary apportionment mechanism ( i.e. a formula consisting the sales factor, the asset factor and the labour factor) to allocate taxing rights between EU Member States. The standard formula is based on the ...
In this paper, the author reports on how the European and American Competition Authorities apprehend margin squeeze viz. the fact for dominant undertakings operating simultaneously as vertically-integrated entities and as downstream market participants to increase wholesale prices by reducing their retail price, thus squeezing their downstream-market competitors out.#This is significant because the ...
In national cases where EU law issues arise, legal practitioners (i.e. lawyers and legal advisors) often have to deal with problems related with the meaning of a particular legal provision. In such situations, it is vital for practitioners to know how to use the interpretative tools in order, not only, to defend the client’s interests in courts at national level, but also to contribute with better ...
Sommario The Article has been published also in Penn State Journal of Law and International Affairs, n. 5, 2017, p. 262. 1. Introduction With the rapid evolution of the Internet and the transition to the Web of a diverse array of infrastructures and systems, virtual currencies have quickly developed. Today, virtual currencies play a key role in the transformational change affecting the world economy ...
This paper considers the ongoing debate around criminal enforcement of competition law and discusses whether the provision of criminal offences is a desirable option to prevent the great harm caused to the economy and consumers by cartel behaviour. After having given an account of the main arguments invoked to support criminalisation, the article highlights the significant difficulties – both theoretical ...
I. Introduction At its base, corporate governance can be considered as an economic theory, with economic efficiency being one of the motivating forces behind the study of director/shareholder interaction[1] [2]. Since early scholars hypothesized that agency costs could be reduced and thus, the value of the firm increased, through the implementation of corporate governance reforms, stakeholder ...
1. EU Law in the Field of Direct Taxation The vast provisions of EU law have a significant impact in the field of taxation of the Member States. Although the tax law enactment remains a prerogative of the Member States as part of their national sovereignty, the European legislation provides for taxation rules that EU based companies benefit from.[1] The EU law seeks to foster the fundamental freedoms ...
1. Introduction When entering into negotiations, the two parties involved naturally believe in the formation and conclusion of a valid agreement. However, sometimes one of the parties may enter into such an agreement under false pretences or without any intention to conclude the contract and, in the same way, creating valid expectations for the other party that such an agreement will come into effect. ...

Magazine article - BLP - 2016/7

Perdigão Borrego , Luis Miguel

State Aid Law and Taxation


1. Introductory Framework As part of the commitment[1] made in the «Code of Conduct»[2] on business taxation, the European Commission (hereinafter referred to as the «Commission») has undertaken to publish a set of guidelines on the application of rules of state aid to measures relating to direct business taxation. These were to be effectively adopted by the Commission on 11 November 1998.[3] In ...