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National Tax Measures Affecting Foreign Investors Under the Discipline of International Investment Treaties

Published online by Cambridge University Press:  28 February 2017

Thomas Wälde
Thomas Wälde*
Affiliation:
CEPMLP, University of Dundee
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Abstract

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Type
The Sovereign Power to Tax
Information
Proceedings of the ASIL Annual Meeting , Volume 102 , 2008 , pp. 55 - 59
Copyright
Copyright © American Society of International Law 2008

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References

1 Bobbitt, Philip, The Shield of Achilles 117, 123, 145 (2002)Google Scholar.

2 Available from authoritative websites such as <www.worldbank.org/ICSID>; <www.investmentclaims.com>; <www.ita.law.uvic.ca> or <www.transnational-dispute-management.com>.

3 Cf. the jurisdictional decision based on a specific “Legal Stabilisation Agreement” with recourse to international arbitration in Duke v. Peru, February 1, 2006, ICSID Case No ARB/03/28 - a dispute primarily about application of Peruvian tax law in a post-privatisation situation’, the final award on the merits was (in May 2008) not yet available.

4 Cf. my Separate Opinion in Thunderbird v Mexico, Award of January 26, 2006; also Fraport v Philippines, ICSID Case No ARB/03/25 of 16 August 2007; Hindelang, S., The Issue of Equality in a State of Illegality, 7 J. World Investment & Trade 883 (2006)Google Scholar.

5 Feldman v. Mexico, ICSID Case ARB (AF) 99/1 of 16 December 2002.

6 Encana v Ecuador, LCIA award of 3 February 2006; Occidental v Ecuador, LCIA Case No UN 3467 of 1 July 2004. While these two awards are based on two different Bits with Ecuador, they also apply a fundamentally different approach with each award stretching the treaty’s text to a considerable extent.

7 E.g., CMS v Argentina, ICSID Case ARB/01/8 of May 12, 2005. The award, apart from the umbrella clause element (which had no impact on the operative part of the award) was maintained in an annulment procedure.

8 Cf. Wälde, T., International Arbitration in Oil, Gas and Energy, in: Newman & Hill, The Leading Arbitrators’ Guide to International Arbitration 749-820 (2nd ed. 2008)Google Scholar.