By Christiane Malke
Christiane Malke analyzes the present matters caused by the access right into a Societas Europaea (SE), the move of seat of an SE from one ecu member kingdom to a different and the go out out of an SE within the 27 member states of the european making an allowance for the Merger Directive. in line with latest deficiencies the writer presents reform ways that give some thought to alterations to the nationwide legislation of the member states, to ecu legislation in addition to to the proposals supplied by way of the eu fee concerning the creation of a typical (Consolidated) company Tax Base.
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Additional info for Taxation of European Companies at the Time of Establishment and Restructuring: Issues and options for reform with regard to the status quo and the proposals at the level of the European Union
Furthermore, changes to the territorial allocation do not cause tax consequences since the taxpayer and the tax environment stays the same, the assets are just being located from one place to another one. Consequently, transfers of assets due to the formation of a company as well as the transfer of the registered office of a company do not immediately result in taxation. 161 To sum up, in a reorganization process which takes place in one country, neutrality and equity are followed as no negative tax consequences result.
Vanistendael, 1998: 908. 3 Retention of unused losses Besides the issue of hidden reserves, further aspects may impede reorganizations. 144 The equity principle as stated above implies that profits and losses are equally recognized in order to appropriately determine the taxpayer’s ability to pay. 145 From a legal view every taxpayer is considered separately from others. 146 This neglects, however, that the owners of the company have the burden of the loss in the end. 147 When following this economic view, one also has to determine whether the losses of the transferring entity may actually be used within its lifetime.
1 Neutrality and equity in an international context If a reorganization takes place across a border, in the current EU tax environment (at least) two countries with different tax rules are of relevance. Accordingly, additional guidelines need to be defined in cross-border situations since different tax authorities are 168 169 Cf. Council Regulation, 2157/2001: 1. Following Spori, 2001: 58. 4 Taxation of European Companies during the time of restructuring in the current environment 31 affected. 170 In this context, it needs to be determined who has the general taxing right of accrued hidden reserves, when a taxation may take place and which amount may be taxed.
Taxation of European Companies at the Time of Establishment and Restructuring: Issues and options for reform with regard to the status quo and the proposals at the level of the European Union by Christiane Malke