Bolkestein To Step Down As EU Tax Commissioner

by Ulrika Lomas, Tax-News.com, Brussels

11 May 2004

Internal Market and Taxation Commissioner, Frits Bolkestein, has decided not to seek a second term as the Dutch representative on the European Commission, and is to step down from the post he has occupied since 1999 to concentrate on writing, reports stated this week.

Having served as an executive with the oil company Shell between 1960 and 1976, Bolkestein was widely credited as being the Commissioner perhaps most in tune with the world of business.

As a promoter of shareholder democracy and better corporate governance, he oversaw many important legal and financial reforms during his term of office.

However, before he departs, Mr Bolkestein faces one last fight, possibly his toughest, in attempting to convince the Swiss to accept the terms of the European Savings Tax Directive, a dispute that threatens to delay the implementation of the banking information sharing agreement if not resolved by June 2004.

According to reports, the sprightly 71 year old, who has studied law, economics, mathematics and philosophy at universities in the Netherlands, Britain and the United States, will then leave the rough and tumble atmosphere of European politics to concentrate on his writing career.

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