Spain's pre-2003 capital gains tax contrary to EU law, ECJ rules.(European Union)(European Court of Justice)(Brief Article)

Australasian Business Intelligence, February, 2005 by Calderon, Jose Manuel

Feb 17, 2005 (Tax Notes International - ABIX via COMTEX)

Some areas of Spain's laws relating to capital gains taxation discriminate against investments in non-Spanish assets. This is according to a European Court of Justice (ECJ) ruling. The court stated the law therefore breached articles 49 and 56 of the European Commission Treaty relating to the freedom of service provision and capital flows in the European Union. However, the ruling is of little consequence as Spain amended the provisions under question during the ECJ proceedings.

Publication Date: 17 January 2005

EUROPEAN COURT OF JUSTICE: 

EUROPEAN COMMISSION

By Jose Manuel Calderon

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