Press Release: Taxation of interest and royalty payments – infringement proceedings against Greece, France, Italy and Portugal

The European Commission decided on 14 January 2005 to send a formal request to Greece, France, Italy and Portugal to ask them to notify it of measures taken to implement Council Directive 2003/49/EC of 3 June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States. The requests were in the form of reasoned opinions, the second stage of infringement proceedings provided for in the Treaty (Article 226).