- Table of Cases
- Table of International Treaties and Conventions
- Table of Rules and Resolutions
- Table of Legislation
- List of Contributors
- Policy Issues
- Investment, Investor, Nationality, and Shareholders
- Applicable Law
- Multilateral Investment Rules Revisited
- Interactions Between Investment and Non-investment Obligations
- Trade and Investment
- Admission and Establishment
- Standards of Treatment
- Coverage of Taxation Under Modern Investment Treaties
- Most-Favoured-Nation Treatment
- Emergency Exceptions: State of Necessity and <i>Force Majeure</i>
- Investment Insurance
- State Responsibility and Attribution
- Regulatory Transparency
- Corporate Social Responsibility
- Methods of Dispute Resolution
- Procedural Transparency
- Independence, Impartiality, and Duty of Disclosure of Arbitrators.
- Consent to Arbitration
- Jurisdiction and Admissibility
- The Jurisdictional Threshold of a Prima-Facie Case
- The Relationship between International Tribunals and Domestic Courts
- Parallel Proceedings
- Compensation, Damages, and Valuation
- Review of Awards
- An Appellate System in International Investment Arbitration?
- Compliance and Enforcement
- A Doctrine of Precedent?
- Tribunal's Powers versus Party Autonomy
Abstract and Keywords
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.
Thomas W. Wälde is Professor and Jean-Monnet Chair, Centre for Energy Petroleum and Mineral Law and Policy, University Dundee, Scotland, and Essex Court Chambers.
Abba Kolo, Lecturer in Energy and Investment Law, Centre for Energy Petroleum and Mineral Law and Policy, University of Dundee, Scotland.
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