EC Challenges rebel states
The European Commission takes legal action against five member states for failing to comply with EU accounting rules
The European Commission takes legal action against five member states for failing to comply with EU accounting rules
The moves include:
• Taking Austria to the European Court of Justice (ECJ) for failing to
implement a 2000 directive on financial transparency.
• Threatening Luxembourg with recurring fines for ignoring an ECJ ruling.
• Launching cases against Italy and Luxembourg for failing to implement 2003
reforms.
• Formally requiring Portugal to scrap tax exemptions for capital gains
secured by public companies from privatisation and restructuring processes.
• Demanding that Spain scraps a law, which automatically treats dividend
payments by Spanish companies to foreign EU companies as tax evasion.
Brussels usually launches such infringement procedures in July, ahead of the
EU’s political summer break.
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