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UK not in line with Europe’s position on Capital Gains Tax?

A group of UK companies is considering appealing to the European Court of Justice (ECJ) against tax charges imposed on UK businesses that relocate their tax residence to another EU member state on the grounds that this is a breach of European Community Law. The ECJ has already indicated that taxation of capital gains on assets transferred to another Member State infringes the principle of freedom of establishment (de Lasteyrie du Saillant v Ministere de l’Economie, des Finances et de l’Industrie (Case C-9/02) [2005] STC 1722). The ECJ has further suggested that taxpayers are discriminated against by being subject to immediate taxation in their Member State of origin on capital gains not yet realised, if no such taxation occurs in similar domestic situations.

 

 

Date: 3rd January, 2008
Author: Cathy Corns

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