Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-09-11-Speech-2-433-750"
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"en.20120911.32.2-433-750"2
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"The subject of this Council Directive (2003/49/EC) is a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States. It puts forward the goal of preventing the double taxation of income. This can be achieved in two ways: taxing income in the Member State where it is produced or in that country where the registered office of the beneficiary company is located. The aim of this proposal is to tax interest and royalties in the Member State where the recipient company has its registered office. It is well-known that associated companies, which are often sister companies within a single umbrella organisation, have a number of mechanisms available to them to reduce taxes on their profits, particularly by manipulating the prices of goods or services that they trade with one another. They use these methods to transfer profits to where they are taxed least. Article 1(1) states that interest and royalty payments are exempt from any taxes imposed in the Member State where they are generated, provided that their beneficial owner is a company of another Member State or a permanent establishment situated in another Member State. That is the case whether or not the company is associated with the payer company."@en1
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