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There is little doubt that taxation authorities can provide significant relief when disasters occur, yet there is generally nothing approaching consensus on what kinds of tax measures are most effective.
In most cases the public policy response remains an ad hoc mix of subsidies, insurance schemes, and tax relief, with the latter component least defined. This book, however – the first on this key topic of growing importance – bears witness to the the potential for a global tax framework that can be seen as emerging in international law.
Drawing primarily on CJEU case law and the European Commission’s approach, twelve well-known experts on international tax discuss the various experiences of several Member States (Germany, Spain, Italy, Austria, France, Portugal, Hungary, and the Scandinavian Countries). The contributors analyse measures of public finance and ‘compensatory’ taxation taken in recent years for geographical areas struck by disasters, whether naturally caused or due to human error or environmental pollution.
The focus is on EU commitments and policies, with particular regard to the effects of the so-called prohibition of State aids laid down by Article 107 TFEU. Also included is a comparative analysis of the relevant Japanese tax regime that has developed in the wake of the exceptional challenge of the the Fukushima nuclear disaster. For each national tax system covered, the book examines such issues and topics as the following:-
Among detailed analyses of the various instruments aimed at facing the damages caused by natural calamities and environmental disasters, the book offers a complete overview of tax measures, not only income taxation, but also other areas such as VAT and local taxes. This overview will make it easier to identify the prerequisites necessary for obtaining available benefits, particularly for investors or businesses with a subsidiary or branch in the damaged areas.
As a detailed comparative analysis of legislation and case law related to tax relief for natural disasters and measures for pollution, this book will be welcomed by tax lawyers and consultants, corporate tax advisers, academics, researchers, and government officials for its investigation of the efficiency of EU and Member States’ response law, its outline of the framework of financial subsidies and tax relief, its evaluation of the appropriateness of aid instruments to address victims of disasters, and its highlighting of post-disaster business opportunities.