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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Tax Implications of Environmental Disasters and Pollution

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Edited by: Massimo Basilavecchia, Lorenzo del Federico, Pietro Mastellone

ISBN13: 9789041156112
Published: September 2015
Publisher: Kluwer Law International
Country of Publication: The Netherlands
Format: Hardback
Price: £104.00

Despatched in 4 to 6 days.

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:-

  • public finance interventions;
  • compulsory insurance mechanisms as either complements or alternatives to tax relief;
  • recovery measures vs. development measures;
  • justifications required for tax development measures in order to obtain authorization by the European Commission;
  • specific advice on tax measures granted to subjects willing to invest in areas struck by disaster; and
  • regulations specific to marine accidents in international waters.

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.

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Environmental Law, Taxation
Introduction: Public Finance, State Aid and Tax Relief for Areas Struck by Natural Disasters and Pollution: An Introduction Lorenzo del Federico

Chapter 1 European Fiscal and Tax Policies for Damaged Areas: The European Legal Framework of Reference Pasquale Pistone & Edoardo Traversa
Chapter 2 Tax Incentives and Public Finance in Response to Natural Disasters: A Comparative Assessment of Austria and Germany Werner Haslehner
Chapter 3 The Spanish System Carlos María López Espadafor
Chapter 4 Tax and Financial Policies for Areas Struck by Natural Calamities and Environmental Disasters: Recovery and Development Measures under the Italian System Livia Salvini & Sarah Supino
Chapter 5 The Systems Adopted by the Nordic Countries Björn Westberg & Cristina Trenta
Section I The Swedish System in Respect of Tax Implications of Natural Disasters and Pollution Björn Westberg

Section II Disaster Management in the Nordic Countries: Public Finance, Taxation and Insurance Cristina Trenta
Chapter 6 The Portuguese System Guilherme Oliveira Martins & Raquel Franco
Chapter 7 The French System Stéphane Buffa
Chapter 8 The Hungarian System Borbála Kolozs
Chapter 9 The Japanese Experience: Fukushima beyond Disaster – Tax and Public Finance Assistance Yasuyuki Kawabata
Chapter 10 Cross-Border Calamities, Marine Accidents and Disasters in International Waters Pernille Wegener Jessen & Pietro Mastellone
Section I EU State Aid Law Issues Pernille Wegener Jessen

Section II Tax Consequences of Marine Accidents in International Waters: Theory, Practice and Future Perspectives Pietro Mastellone
Conclusion: Points of Convergence, Critical Remarks and Future Perspectives Massimo Basilavecchia

Appendix: Table A.1 – Definition of ‘Disaster’ in EU Member States