Press Release: Direct taxation: The European Commission refers Spain and Portugal to the European Court of Justice

The European Commission decided to refer Spain and Portugal to the over restrictive provisions on exit tax European Court of Justice for their tax provisions which impose an exit tax on companies which cease to be tax resident in these countries. The provisions are incompatible with the freedom of establishment provided for in Article 43 of the Treaty and Articles 31 of the EEA Agreement.

• Primary Source