Survey of the Implementation of the EC Corporate Tax Directives

The two most important directives on corporate taxation - the Merger Directive (90/434/EEC) and the Parent-Subsidiary Directive (90/435/EEC) - both came into force on 1 January 1992, and yet, years later, it remains clear that most Member States have still not implemented the Directives correctly. In some cases, indeed, non-implementation of the Directives has been deliberate. This comprehensive survey details the nature and degree of the 12 "older" Member States' response to the Directives (the report was written prior to Australia's, Finland's and Sweden's accession to the Union), and reaches the conclusion that all 12 fall some way short of full implementation. Carried out with financial support granted by the European Community, this is clearly essential reading for all tax professionals, financial advisers and business people operating or intending to operate in Europe. The survey is divided into two sections, examining each Directive in turn. Each comprises a detailed analysis of the Directive itself, examining its scope and omissions, followed by a series of country-by-country analyses, including detailed references to relevant national legislation. Each country analysis concludes with an article-by-article summary of aspects of national law in conflict with the provisions of the Directive.