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| Author: | Goris, P. |
| Title: | The Velasquez doctrine: An example of international juridical double taxation |
| Journal: | European Taxation
1996 : OCT, VOL. 36:10, p. 327-331 |
| Index terms: | DOUBLE TAXATION LAW INTERNATIONAL TAXATION BELGIUM |
| Language: | eng |
| Abstract: | The Belgian Supreme Court (Cour de Cassation) decision of 27 October 1995 confirmed its much criticized position in the case of the cigar factory Velasquez NV of 29 June 1984 by overruling a decision of the Court of Appeal of Liege. In the Velasquez case the Supreme Court ruled that losses realized by the Belgian operations of a Belgian resident company with a profitable permanent establishment in a country with which Belgium has concluded a treaty on the avoidance of double taxation (in the case the Netherlands) should be reduced by the amount of the profits exempt by virtue of the treaty. Subsequent profits generated by the Belgian activities could therefore only be reduced by the amount of tax loss carry-forward which had not been set off previously against exempt foreign profits. |
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