Court of Justice of the European Communities has in a judgement involving country's leading retailer of clothing, food, homeware and financial services - Marks & Spenser ruled that United Kingdom's legal provisions constitute a restriction on freedom of establishment.
It meant that United Kingdom rules apply different treatment for tax purposes to losses incurred by a resident subsidiary and losses incurred by a non-resident subsidiary. They therefore discourage undertakings from setting up subsidiaries in other Member States.
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COURT OF JUSTICE OF THE EUROPEAN COMMUNITIES
marketing@alchempro.com
