Press Release: Taxation of interest and royalty payments – infringement proceedings against the United Kingdom over Gibraltar

The European Commission on 21 March 2005 decided to send a formal request to the United Kingdom for information on the measures that the United Kingdom had adopted to implement Council Directive 2003/49/EC of 3 June 2003 in Gibraltar. That Directive, on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States, should have been implemented in all Member States by 1 January 2004.

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