| Author (Corporate) | European Commission: Press and Communication Service |
|---|---|
| Series Title | Press Release |
| Series Details | IP/03/1418 (20.10.03) |
| Publication Date | 20/10/2003 |
| Content Type | News |
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The European Commission has made a proposal to update, clarify and broaden the scope of the European Community's Directive that provides for tax deferral in the case of cross-border mergers and divisions of companies, transfers of assets and exchanges of shares (90/434/EEC). In particular, the Commission proposes to broaden the Directive's scope to cover a larger range of companies including the European Company and the European Co-operative Society; to provide for a new tax neutral regime for the transfer of the registered office of a European Company or of a European Co-operative Society between Member States; to clarify that the Directive applies in the case of the conversion of branches into subsidiaries; and to introduce rules to prevent double taxation due to different valuations of shares and assets by different Member States. |
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| Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=IP/03/1418&format=HTML&rapid=0&language=EN&guiLanguage=en&display= |
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| Subject Categories | Internal Markets, Taxation |
| Countries / Regions | Europe |
