PORTUGAL PRESSURED TO AMEND COMPANY TAX RULES
July 1st, 2013
THE EUROPEAN Commission is threatening legal action against Portugal for offering tax benefits to non-resident companies more than 25% owned by Portuguese residents, while denying them to other non-resident companies. Brussels says this breaks European Union (EU) fair trading rules and could ask the European Court of Justice to order Portugal to reform these rules. Meanwhile, the Commission has told Spain it wants changes to its allegedly discriminatory tax rules on foreign dividends distributed by a non-resident EU company to Spanish companies. More ...
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