Globalisation has led to an increase in world trade, and the pace of integration of national econo-‐ mies has increased substantially in the last decade. The free movement of capital and the gradual removal of trade barriers, telecommunication and technological developments and the importance of protecting and exploiting intellectual property have resulted in an increase of cross-‐border activ-‐ ities. As a consequence of the more globally integrated economy, companies across the world are also becoming more and more integrated. According to OECD, multinational enterprises now represent a large proportion of global GDP, and intra-‐firm trade represents a growing proportion of overall trade.1 These developments have opened up opportunities for multinational enterprises to mini-‐ mize their tax burden and make aggressive tax planning. In 2013 OECD initiated Action Plan on Base Erosion and Profit Shifting (BEPS) in order to prevent and counter aggressive tax planning. Action point 8, out of 15, in Action Plan on BEPS concerns in-‐ tangibles. Intangibles have been on the OECD’s agenda since 2010 and are a difficult concept to handle. The purpose of this action point is to ensure that profits are appropriately allocated in ac-‐ cordance with the value creation. In September 2014 OECD published Guidance on Transfer Pricing Aspects of Intangibles (2014 De-‐ liverable), as the third and latest draft in connection with Action point 8. Parts of the document contain final revisions while portions only provide interim guidance. The purpose of this thesis is to analyse 2014 Deliverable, the development of the way intangibles are treated and how intangibles according to 2014 Deliverable conceptually should be treated. The analysis will provide an under-‐ standing of the new definition in addition to an analysis of the ownership of intangibles including the role of legal ownership compared to economic ownership.
|Cand.merc.jur Erhvervsøkonomi og Jura, (Kandidatuddannelse) Afsluttende afhandling