Coverage of Taxation Under Modern Investment Treaties

Thomas W. Wälde and Abba Kolo

in The Oxford Handbook of International Investment Law

Published in print June 2008 | ISBN: 9780199231386
Published online September 2012 | | DOI:

Series: Oxford Handbooks in Law

 Coverage of Taxation Under Modern Investment Treaties

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The purpose of this article is to provide an overview of the different ways of treating taxation in modern investment treaties and the underlying policies and tensions reflected in the variations of treaty regulation of tax disputes. Unlike in the 1970s, when the main issues were expropriation and transfer pricing by multinational enterprises, at present, the economic role of the state has changed from direct intervention to an indirect rule. It is no longer the exercise of public ownership or direct commands to supervised private operators, but the manipulation of the levers of economic, environmental, and fiscal regulation which are the main instruments to influence the economic environment. Direct public ownership has transformed itself into the ‘regulatory state’. Therefore, it is the regulatory function of the state and how it impacts on foreign investment that is most relevant.

Keywords: taxation; modern investment treaties; policies; treaty regulation; tax disputes; multinational enterprises

Article.  31716 words. 

Subjects: Law ; International Law

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