After the International Tax Week in which I participated in Baarlo, my interest in the phenomenon defined as Transfer Pricing has increased and has meant that my decision regarding the choice of my thesis fell on this topic. The fundamental objective of this work is to analyze the contribution that the use of new technology such as the Blockchain can make in the field of regulation and management of Transfer Pricing and in international taxation regarding multinational companies. The Blockchain is a technology that can be defined as new and emerging, proposes a new approach to database management, proposing the idea of a distributed ledger, in which data is stored on the servers participating in the chain and where the control is no longer provided by a well-defined central authority but is moved to all nodes in the network. The main features of this system have made the research very interesting as interesting is the possible application of this technology in the field of international taxation in this case more precisely in inter-group transactions. Tax evasion by the large multinationals and the opportunities guaranteed to them to avoid paying large sums of money in taxes, using regulatory failures, has raised an interest in a discipline previously unknown to many that of transfer pricing. The ultimate goal is to create a modern international fiscal framework, where profits are taxed where economic activity and value creation occur. Some of the action points presented by the OECD are immediately applicable, such as changes to the Transfer Pricing Guidelines. While some other actions must be implemented in the treaties, such as multilateral instruments. The OECD and the G20 have agreed to collaborate in the BEPS project at least until 2020, to ensure that effective monitoring of the agreed measures can be carried out. However, all these good intentions did not bring the expected benefits, leaving the same problems as before the BEPS plan was activated. The work you are going to read concerns these topics and is divided into five chapters. Starting with the first chapter, of a more descriptive nature, precise and specific forms of regulation of Transfer Pricing are presented and analyzed, in fact specific references are presented regarding articles of the Organization for Cooperation and Development (OECD) and also actions related to the project (BEPS) Base Erosion and Profit Shifting. Continuing with the second chapter, the Blockchain technology is presented for the first time, in order to be able to describe and precisely present the mechanisms behind this system and how it can therefore function. Continuing with the third chapter, you are going to see one of the most incisive and important chapters to understand the benefits that can derive from the blockchain if we refer to the field of international intragroup transactions or Transfer pricing. In the fourth chapter the problems to which the Blockchain technology will have to find a solution in the legislative field are taken into consideration, in this sense the difficulties that limit the possibility of regulating this matter in a universal manner, will in fact be placed on the attention of different countries and how they mean the transfer pricing regulation, in short a practical case study will be presented to explain in a practical way what this lack of cooperation and regulation entails. In the fifth and last chapter, different forms of Blockchain will be proposed and we will analyze which of these is the best and must be adopted in order to regulate and manage the phenomenon of Transfer Pricing, always bearing in mind the limits of technology and the actors who will take part in it. To conclude, final impressions will be presented on the work done and on the prospects that this idea may have.
Successivamente all’International Tax Week alla quale ho partecipato a Baarlo, il mio interesse nel fenomeno definito come Transfer pricing è aumentato ed ha fatto si che la mia decisione riguardante la scelta della tesi di laurea ricadesse su questo argomento. L’obbiettivo fondamentale di questo lavoro è quello di analizzare il contributo che l’utilizzo di una nuova tecnologia come la Blockchain può dare nel campo della regolamentazione e gestione del Transfer Pricing e nella tassazione internazionale riguardanti le imprese multinazionali. La Blockchain è una tecnologia che si può definire nuova ed emergente, propone un approccio nuovo alla gestione dei database, proponendo l’idea di un libro mastro distribuito, anche definito Distribuited Ledger, nella quale i dati vengono memorizzati sui server che partecipano alla catena e dove il controllo non è più fornito da un’autorità centrale ben definita ma viene spostato a tutti i nodi della rete. L’evasione fiscale ad opera delle grandi multinazionali e le possibilità ad esse garantite per evitare di pagare grandi somme di denaro in tasse, utilizzando mancanze di regolamentazione hanno suscitato un aumento di interesse nei confronti di una disciplina a molti precedentemente sconosciuta quella del Transfer Pricing. L'obiettivo finale è creare un quadro fiscale internazionale moderno, in base al quale i profitti siano tassati laddove si verifica l'attività economica e la creazione di valore. L'OCSE e il G20 hanno concordato di collaborare al progetto BEPS almeno fino al 2020, per garantire che si possa effettuare un monitoraggio efficace delle misure concordate. Tutti questi buoni propositi tuttavia non hanno portato i benefici che ci si aspettava, lasciando gli stessi problemi precedenti all’attivazione del piano BEPS. Il lavoro che andrete a leggere riguarda tali argomenti ed è articolato in cinque capitoli. Partendo con il primo capitolo, di natura più descrittiva, vengono presentate ed analizzate precise e specifiche forme di regolamentazione del Transfer Pricing, vengono infatti presentati specifici riferimenti riguardo articoli dell’Organizzazione per la cooperazione e lo sviluppo (OCSE) ed anche azioni riferite al progetto (BEPS) Base Erosion and Profit Shifting. Proseguendo con il secondo Capitolo, viene presentata per la prima volta la tecnologia Blockchain alla base della nostra tesi, in maniera da poter descrivere e presentare precisamente i meccanismi dietro a questo sistema e come esso riesce dunque a funzionare. Proseguendo ci troveremo di fronte al terzo capitolo, uno dei capitoli più incisivi ed importanti per comprendere i benefici che possono derivare dalla blockchain se ci riferiamo al campo delle transazioni infragruppo internazionali o Transfer pricing. Nel quarto capitolo vengono presi in considerazione le problematiche alla quale la tecnologia Blockchain dovrà trovare soluzione nel campo legislativo, in questo senso le difficoltà che limitano la possibilità di regolamentare tale materia in maniera universale, verrà infatti posta l’attenzione su diversi paesi e su come essi intendono la regolamentazione del transfer pricing, in breve sarà anche presentato un caso studio pratico per spiegare in maniera pratica cosa comporta questa mancanza di cooperazione e regolamentazione. Nel quinto ed ultimo capitolo invece verranno proposte diverse forme di Blockchain e si analizzerà quale di queste sia la migliore e debba essere adottata per poter regolamentare e gestire il fenomeno del Transfer Pricing, tenendo sempre conto dei limiti della tecnologia e degli attori che ne prenderanno parte.Per concludere verranno presentate impressioni finali sul lavoro svolto e sulle prospettive che questa idea potrà avere.
International Taxation and Blockchain: Limits and effects of the implementation of Blockchain Technology related to the Field of Transfer Pricing.
RICCETTI, CRISTIANO
2018/2019
Abstract
After the International Tax Week in which I participated in Baarlo, my interest in the phenomenon defined as Transfer Pricing has increased and has meant that my decision regarding the choice of my thesis fell on this topic. The fundamental objective of this work is to analyze the contribution that the use of new technology such as the Blockchain can make in the field of regulation and management of Transfer Pricing and in international taxation regarding multinational companies. The Blockchain is a technology that can be defined as new and emerging, proposes a new approach to database management, proposing the idea of a distributed ledger, in which data is stored on the servers participating in the chain and where the control is no longer provided by a well-defined central authority but is moved to all nodes in the network. The main features of this system have made the research very interesting as interesting is the possible application of this technology in the field of international taxation in this case more precisely in inter-group transactions. Tax evasion by the large multinationals and the opportunities guaranteed to them to avoid paying large sums of money in taxes, using regulatory failures, has raised an interest in a discipline previously unknown to many that of transfer pricing. The ultimate goal is to create a modern international fiscal framework, where profits are taxed where economic activity and value creation occur. Some of the action points presented by the OECD are immediately applicable, such as changes to the Transfer Pricing Guidelines. While some other actions must be implemented in the treaties, such as multilateral instruments. The OECD and the G20 have agreed to collaborate in the BEPS project at least until 2020, to ensure that effective monitoring of the agreed measures can be carried out. However, all these good intentions did not bring the expected benefits, leaving the same problems as before the BEPS plan was activated. The work you are going to read concerns these topics and is divided into five chapters. Starting with the first chapter, of a more descriptive nature, precise and specific forms of regulation of Transfer Pricing are presented and analyzed, in fact specific references are presented regarding articles of the Organization for Cooperation and Development (OECD) and also actions related to the project (BEPS) Base Erosion and Profit Shifting. Continuing with the second chapter, the Blockchain technology is presented for the first time, in order to be able to describe and precisely present the mechanisms behind this system and how it can therefore function. Continuing with the third chapter, you are going to see one of the most incisive and important chapters to understand the benefits that can derive from the blockchain if we refer to the field of international intragroup transactions or Transfer pricing. In the fourth chapter the problems to which the Blockchain technology will have to find a solution in the legislative field are taken into consideration, in this sense the difficulties that limit the possibility of regulating this matter in a universal manner, will in fact be placed on the attention of different countries and how they mean the transfer pricing regulation, in short a practical case study will be presented to explain in a practical way what this lack of cooperation and regulation entails. In the fifth and last chapter, different forms of Blockchain will be proposed and we will analyze which of these is the best and must be adopted in order to regulate and manage the phenomenon of Transfer Pricing, always bearing in mind the limits of technology and the actors who will take part in it. To conclude, final impressions will be presented on the work done and on the prospects that this idea may have.| File | Dimensione | Formato | |
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Tesi Finale Riccetti Cristiano..pdf
Open Access dal 06/07/2021
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https://hdl.handle.net/20.500.12075/6260