Euronext, the European cross-border stock exchange operator, announced on Wednesday that it has reached “groundbreaking" tax agreements with three European countries concerning parent/subsidiary taxation.
The agreements with Belgium, France and the Netherlands concern the manner in which subsidiaries of European integrated companies can share taxable income.
According to Euronext, it is the first firm in the financial services industry, and the second firm overall, to benefit from these tax rules. It added that the agreements are likely to be extended to its exchanges in Lisbon and London in the near future.
The company confirmed that the tax measures are consistent with OECD guidelines, European competition rules, and the tax legislation of the countries concerned.
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