Memo: Results of Informal Meeting of Economics and Finance Ministers, The Hague, 10-11th September 2004 – Banking and Company Taxation

Results of the Informal Meeting of Economics and Finance Ministers, The Hague, 10-11 September 2004 where possible obstacles to cross-border mergers and takeovers in the banking sector were discussed as well as the issue of company taxation. The Economics and Finance Ministers called up the Commission to study possible obstacles to cross-border mergers and acquisitions in the wholesale and retail banking sectors arising not only from different supervisory practices but also other broader factors. In addition, the Ministers took note of the Commission's intention to review those parts of the EU's Banking Directive (2000/12/EC) that allow Member States to block mergers and acquisitions on prudential grounds. In addition, a large majority of Ministers supported the creation of a working group of Member States on company taxation, chaired by the European Commission.

European Commission: DG Taxation and Customs Union: Taxation: Direct taxation: Company taxation http://ec.europa.eu/comm/taxation_customs/taxation/company_tax/index.htm

European Commission: Memo: MEMO/04/212 http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/04/212&format=HTML&aged=0&language=EN&guiLanguage=en

---