According to the “authorized OECD approach” (AOA), assets generally are to be attributed to the part of an enterprise that performs the significant people functions relevant to the determination of economic ownership of assets. As confirmed by the Austrian Supreme Administrative Court, the domestic distinction between necessary and assigned business assets is irrelevant for the attribution of assets in a tax treaty context. Nevertheless, both the OECD and the Austrian Supreme Administrative Court leave open what functions are relevant for the attribution of a participation in a company to a permanent establishment. Kasper Dziurdź argues that the owner and shareholder functions, including the decisions about purchasing, financing, keeping and selling the participation, as well as the shareholder decisions that influence the conduct of the company, form the basis for the attribution. By contrast, the provision of goods and services by the permanent establishment to the company (or vice versa) is not decisive for the attribution of the participation to the permanent establishment as distinct and separate enterprises provide and receive such goods and services without necessarily being...