Press Release: Direct taxes: The European Commission formally requests Austria to amend certain rules related to the appointment of fiscal representatives

The European Commission formally requested Austria to change its tax provisions related to the appointment of a fiscal representative. The Commission considers that the rules which request foreign investment funds, real estate funds and credit institutions to appoint a fiscal representative result in discriminatory treatment. The Commission also considers discriminatory the prohibition for foreign credit institutions and certified public accountants to be appointed as fiscal representative for investors in investment fund or real estate fund and considers these rules to be incompatible with the freedom to provide services. The request takes the form of a reasoned opinion (second step of the infringement procedure provided for in Article 226 of the EC Treaty). If there is no satisfactory reaction to the reasoned opinion within two months, the Commission may decide to refer the matter to the Court of Justice of the European Communities.