The Resource Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate?
Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate?
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The item Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate? represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.This item is available to borrow from 1 library branch.
Resource Information
The item Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate? represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.
This item is available to borrow from 1 library branch.
- Summary
- The European Court of Justice (ECJ) ruled in the National Grid Indus case that a company migrating to another EU Member State must be given the choice of either making an immediate payment of exit tax or obtaining the deferment of the payment of tax if the company is willing to bear the administrative burden of tracing the assets that have been relocated abroad. However, two statements of the Court relating to a Member State's ability to charge interest and to require a bank guarantee have caused some confusion. As demonstrated in this article, charging interest on deferred exit taxes is not proportionate and violates the freedom of establishment principle. Member States can require a security only where there is a palpable risk that the deferred tax is non-recoverable
- Language
- eng
- Label
- Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate?
- Title
- Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate?
- Language
- eng
- Summary
- The European Court of Justice (ECJ) ruled in the National Grid Indus case that a company migrating to another EU Member State must be given the choice of either making an immediate payment of exit tax or obtaining the deferment of the payment of tax if the company is willing to bear the administrative burden of tracing the assets that have been relocated abroad. However, two statements of the Court relating to a Member State's ability to charge interest and to require a bank guarantee have caused some confusion. As demonstrated in this article, charging interest on deferred exit taxes is not proportionate and violates the freedom of establishment principle. Member States can require a security only where there is a palpable risk that the deferred tax is non-recoverable
- Citation source
- In: Intertax. - Alphen aan den Rijn. - Vol. 40 (2012),
- http://library.link/vocab/creatorName
-
- Thömmes, O
- Linn, A
- Geographic coverage
- European Union
- Language note
- English
- http://library.link/vocab/subjectName
-
- ECJ case law
- exit tax
- deferment of tax
- fundamental freedoms
- interest
- Label
- Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate?
- Label
- Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate?
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Deferment-of-exit-taxes-after-National-Grid/qTCVPIk_A4A/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Deferment-of-exit-taxes-after-National-Grid/qTCVPIk_A4A/">Deferment of exit taxes after National Grid Indus: is the requirement to provide a bank guarantee and the charge of interest proportionate?</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="https://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
