CFE Tax Advisers Europe President, Professor Piergiorgio Valente, has recently published an article entitled “Advance Pricing Arrangements: Optimal Tool – Optimal Framework?”. The article is published in Volume 48 of Wolters Kluwer’s Intertax and is available for purchase via the link below.
Advance Pricing Agreements (APAs) are a diffused tool for taxpayers to obtain certainty in relation to the tax impact of their cross-border activities through an agreement with a tax administration in advance of such activities. APAs can be unilateral, bilateral, or multilateral depending on the number of national tax administrations involved, the latter two promising that the agreement made shall not be questioned in the other affected tax jurisdiction. Departing from the enhanced mutual agreement procedure (MAP) framework recently established among Member States through the Tax Dispute Resolution Directive, a future EU legislative initiative could outline a robust framework for MAP APAs in the Single Market.