Press Release: Direct Taxation: The European Commission opens a new infringement procedure against Greece for failure to comply with a Court judgment concerning capital duty

The European Commission has decided, under Article 228 of the EC Treaty, to open a new infringement procedure against Greece. Despite a 2007 European Court of Justice judgment, Greece has not communicated any changes to its legislation on charging capital duty in the event of transfer of the registered office or the effective centre of management of a company and to the general exemption from that duty to maritime companies. If Greece fails to comply with the letter of formal notice, the Commission may address a reasoned opinion to Greece before bringing the matter to the Court of Justice for a second time, seeking the imposition of penalty payments.

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