UK has lost its ranking in the top three of Europe’s most favourable tax and
legal environments, according to the fourth benchmarking study carried out by
the European Private Equity & Venture Capital Association (EVCA) in
M&A Tax Services.
The study assesses the tax and legal enviroments across 27 European countries
for limited partners and fund management companies, investee companies, as well
as the environment for retaining talent at both investment firms and investee
It shows France achieved the highest score in the study, followed by Ireland
and Belgium, which made beneficial changes to its pension fund environment and
new fiscal R&D incentives, pushed the UK out of the top three countries for
the first time.
The study also reveals the gap has widened considerably between Europe’s most
and least favourable tax and legal environments. This year the highest ranking
achieved 1.23, compared with 1.27 in 2006, and the lowest achieved 2.40,
compared with 2.35 in 2006.
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