FEFSI/PWC Report on Tax Discrimination of Investments

20 January 2003

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Discriminatory tax measures in most EU Member States continue to form a formidable obstacle to the development of a real single market in investment funds says a follow-up report carried out by PricewaterhouseCoopers in collaboration with FEFSI, the Federation of the European Investment Funds Industry.

Tax experts at PricewaterhouseCoopers believe that many of the tax rules identified in the 2001 report could be illegal under EU law because they discriminate against foreign funds. This follow up report reveals that there has been little government action to improve the situation. In some cases even, additional discriminatory tax measures have appeared or are being considered.

The follow-up report shows that a few steps towards the elimination of tax discrimination have occurred in some countries but so far only Greece in the whole EU has acted to eliminate its discriminatory tax measures completely.

Full report
Press release

© FEFSI