Brussels, 23/01/2014 (Agence Europe) - Among its batch of monthly decisions about breaches of EU tax rules, on Thursday 23 January the European Commission took action against Portugal and Belgium. Portugal will be sent to the European Court of Justice for discriminating against taxpayers who cease to be tax-resident there and become subject to immediate taxation in case of exchange of shares. Taxpayers are also taxed immediately in case of transfer to a company located abroad of assets and liabilities related to the exercise of an economic or professional activity. This immediate taxation is less favourable treatment than for people who remain tax-liable in Portugal or who transfer assets to a company registered in Portugal because they are taxed on the value of their assets at a specific moment in time irrespective of future changes in the value of the assets, whereas the others are not taxed until the assets are sold. Portuguese legislation therefore discourages taxpayers from moving overseas or transferring their assets, thus hindering the right of free circulation. Portugal has been sent a warning letter about its second-hand vehicle tax rules because depreciation is not taken into account unless the vehicle is more than a year old and no additional depreciation is allowed for vehicles more than five years old, which can lead to higher taxation than for vehicles bought in Portugal. Belgium has been sent a warning letter because of its rules on the use of tax clearing for banks registered in Belgium. The Commission cannot see any valid reason for excluding banks registered in other member states and sees the practice as an obstacle to the freedom to supply services. For the issues for which the warnings have been sent, the two countries have two months to respond, failing which they may be sent to the European Court of Justice. (FG/transl.fl)