Inward Investment and International Taxation Review Tenth Edition Editor Tim Sanders lawreviews © 2020 Law Business Research Ltd Inward Investment and International Taxation Review Tenth Edition Reproduced with permission from Law Business Research Ltd This article was first published in February 2020 For further information please contact [email protected] Editor Tim Sanders lawreviews © 2020 Law Business Research Ltd PUBLISHER Tom Barnes SENIOR BUSINESS DEVELOPMENT MANAGER Nick Barette BUSINESS DEVELOPMENT MANAGER Joel Woods SENIOR ACCOUNT MANAGERS Pere Aspinall, Jack Bagnall ACCOUNT MANAGERS Olivia Budd, Katie Hodgetts, Reece Whelan PRODUCT MARKETING EXECUTIVE Rebecca Mogridge RESEARCH LEAD Kieran Hansen EDITORIAL COORDINATOR Tommy Lawson PRODUCTION AND OPERATIONS DIRECTOR Adam Myers PRODUCTION EDITOR Louise Robb SUBEDITOR Hilary Scott CHIEF EXECUTIVE OFFICER Nick Brailey Published in the United Kingdom by Law Business Research Ltd, London Meridian House, 34-35 Farringdon Street, London, EC4A 4HL, UK © 2020 Law Business Research Ltd www.TheLawReviews.co.uk No photocopying: copyright licences do not apply. 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Enquiries concerning editorial content should be directed to the Publisher – [email protected] ISBN 978-1-83862-472-9 Printed in Great Britain by Encompass Print Solutions, Derbyshire Tel: 0844 2480 112 © 2020 Law Business Research Ltd ACKNOWLEDGEMENTS The publisher acknowledges and thanks the following for their assistance throughout the preparation of this book: ABOU JAOUDE & ASSOCIATES LAW FIRM ADVOKATFIRMAET GRETTE AS ÆLEX AFRIDI & ANGELL A&L GOODBODY ANDERSON MŌRI & TOMOTSUNE BAE, KIM & LEE LLC BAKER MCKENZIE BIRD & BIRD ADVOKAT KB CHIOMENTI CUVAL ABOGADOS DAVIES WARD PHILLIPS & VINEBERG LLP DELOITTE IMPUESTOS Y SERVICIOS LEGALES, SC (DELOITTE MEXICO) D’EMPAIRE DLA PIPER NEDERLAND NV GAIA SILVA GAEDE ADVOGADOS GORRISSEN FEDERSPIEL HERBERT SMITH FREEHILLS CIS LLP ISIDORA & COMPANY KHAITAN & CO KPMG LENZ & STAEHELIN i © 2020 Law Business Research Ltd Acknowledgements LOYENS & LOEFF MOCHTAR KARUWIN KOMAR PATRIKIOS PAVLOU & ASSOCIATES LLC QUEVEDO & PONCE ROCA JUNYENT SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP SOŁTYSIŃSKI KAWECKI & SZLĘZAK SRS ADVOGADOS WOLF THEISS ii © 2020 Law Business Research Ltd CONTENTS PREFACE ......................................................................................................................................................... vii Tim Sanders Chapter 1 INTRODUCTION TO THE CHALLENGES OF TAXING THE DIGITALISED ECONOMY ...............................................................................................1 Alex Jupp, Joshua Atkinson and Alex Rigby Chapter 2 AUSTRIA �����������������������������������������������������������������������������������������������������������������������������13 Niklas JRM Schmidt and Eva Stadler Chapter 3 BELGIUM ...........................................................................................................................23 Christian Chéruy and Marc Dhaene Chapter 4 BRAZIL ................................................................................................................................49 Maurício Barros Chapter 5 CANADA .............................................................................................................................62 Julie Colden Chapter 6 COLOMBIA ������������������������������������������������������������������������������������������������������������������������78 Benjamin Cubides Chapter 7 CYPRUS ...............................................................................................................................91 Stella Strati Chapter 8 DENMARK .......................................................................................................................103 Jakob Skaadstrup Andersen Chapter 9 ECUADOR ........................................................................................................................118 Alejandro Ponce Martínez Chapter 10 HONG KONG .................................................................................................................132 Steven Sieker and Wenwen Chai iii © 2020 Law Business Research Ltd Contents Chapter 11 HUNGARY........................................................................................................................146 János Pásztor, Alexandra Tóth and Bence Kálmán Chapter 12 INDIA ................................................................................................................................157 Bijal Ajinkya Chapter 13 INDONESIA .....................................................................................................................170 Mulyana, Sumanti Disca Ferli, Bobby Christianto Manurung, Ratna Mariana and Astrid Emmeline Kohar Chapter 14 IRELAND ..........................................................................................................................187 Peter Maher Chapter 15 ITALY .................................................................................................................................208 Paolo Giacometti and Giuseppe Andrea Giannantonio Chapter 16 JAPAN ................................................................................................................................231 Kei Sasaki, Fumiaki Kawazoe and Yoshiko Nakamura Chapter 17 LEBANON ........................................................................................................................248 Simon El Kai, Souraya Machnouk, Hachem El Housseini and Nour El Haddad Chapter 18 LUXEMBOURG ...............................................................................................................262 Pieter Stalman and Mélanie Staes Chapter 19 MALTA ...............................................................................................................................284 Juanita Brockdorff and Michail Tegos Chapter 20 MEXICO ...........................................................................................................................298 Eduardo Barrón Chapter 21 NETHERLANDS .............................................................................................................322 Jian-Cheng Ku and Rhys Bane Chapter 22 NIGERIA ...........................................................................................................................336 Theophilus I Emuwa, Chinyerugo Ugoji, Jibrin Dasun and Eniye Igbanibo Chapter 23 NORWAY ...........................................................................................................................347 Cecilie Tollefsen and Kari-Ann Mosti iv © 2020 Law Business Research Ltd Contents Chapter 24 POLAND ...........................................................................................................................362 Jarosław Bieroński Chapter 25 PORTUGAL ......................................................................................................................395 Mafalda Alves Chapter 26 RUSSIA ..............................................................................................................................412 Oleg Konnov and Sergei Eremin Chapter 27 SOUTH KOREA ..............................................................................................................425 Sung Doo Jang and Maria Chang Chapter 28 SPAIN .................................................................................................................................439 Raúl Salas Lúcia, Elena Ferrer-Sama, Pilar Vacas Barreda and Ladislao Palacios Navarro Chapter 29 SWEDEN...........................................................................................................................457 Carl-Magnus Uggla Chapter 30 SWITZERLAND ..............................................................................................................471 Frédéric Neukomm and Floran Ponce Chapter 31 TAIWAN ............................................................................................................................484 Michael Wong and Dennis Lee Chapter 32 TANZANIA �����������������������������������������������������������������������������������������������������������������������495 Paul Kibuuka Chapter 33 THAILAND ......................................................................................................................505 Panya Sittisakonsin and Sirirasi Gobpradit Chapter 34 UNITED ARAB EMIRATES ..........................................................................................519 Gregory J Mayew and Silvia A Pretorius Chapter 35 UNITED KINGDOM .....................................................................................................536 Tim Sanders Chapter 36 UNITED STATES ������������������������������������������������������������������������������������������������������������563 Moshe Spinowitz, Robert C Stevenson and Leonard I Greenberg v © 2020 Law Business Research Ltd Contents Chapter 37 VENEZUELA ��������������������������������������������������������������������������������������������������������������������586