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- Title
OECD "EKONOMİK ESASLILIK" (ECONOMIC SUBSTANCE) KRİTERİNİN VERGİ CENNETLERİNDE TİCARET ŞİRKETLERİ İÇİN SONA ERME SEBEBİ OLARAK UYGULANMASI.
- Authors
PEHLİVANOĞLU, Üyesi Murat Can
- Abstract
Organization for Economic Cooperation and Development (OECD) has implemented a rule known as economic substance criterion for no or only nominal tax jurisdictions. It is observed that the criterion got enacted in national law by related jurisdictions as a dissolution ground for commercial companies. Accordingly, economic substance regulations became rules with corporate nature. However, when the source and application scope of the criterion are examined, it is understood that the criterion is based on public international law and has a tax law characteristic. As the jurisdictions obligated to transpose the criterion into their national law, as well as commercial entities obligated to comply with the criterion are determined pursuant to OECD objectives, there is an increasing need to analyze the legal nature of the criterion in the context of company law in accordance with its application in national law, as well as its international source and scope. In this article, OECD economic substance criterion is analyzed and its application as a dissolution ground for commercial companies is examined. The criterion is viewed as a statutory involuntary dissolution ground subject to extraordinary liquidation regime, and this view is explained through Bahamian law. The relationship between tax havens and requirement of economic substance in companies' operations is also materialized.
- Publication
Banking & Commercial Law Journal / Banka ve Ticaret Hukuk Dergisi, 2024, Vol 39, Issue 4, p1111
- ISSN
1300-1396
- Publication type
Article