The European Commission announced earlier this week that it has decided to take the Greek authorities to the European Court of Justice (ECJ), arguing that the country's tax legislation relating to the raising of capital does not conform with EU law.
According to the EC, Greece applies capital duty when a company transfers its registered office or place of effective management to Greece, and applies a general exemption from capital duty to agricultural and maritime companies.
However, the Commission considers that these rules are contrary to the Directive concerning indirect taxes on the raising of capital, which allows Member States to subject only the formation of companies, not their transfer, to capital duty and does not allow Greece to exempt specific economic sectors from the tax.
The regulatory body further revealed that Greece has not made the necessary changes to its legislation, despite a formal request made last December.
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