Brussels, 20/07/2005 (Agence Europe) - The European commission has called upon Sweden to change its legislation on the tax exoneration for capital gains made on property sales. Greece, Ireland, Italy, Luxembourg and the Czech Republic will receive one or more reasoned opinions for failing to communicate to the Commission their national measures to transpose three directives on direct taxation.
Sweden. Under Swedish tax law, a resident tax-payer may benefit from a tax postponement on the capital gains realised when his or her main residence has been sold, as long as the old property and the new property bought are situated on Swedish territory. The Commission feels that this territorial limitation on the tax exoneration infringes several rules of the EC Treaty on residency rights in the European Union and on the freedom movement of workers in capitals. It is sending Sweden a reasoned opinion.
National transposition measures. The Commission has called upon Greece, Italy and Luxembourg to notify it of their national measures to transpose directive 2003/123/EC modifying directive 90/435/EEC on the common attacks regime applicable to mother and subsidiary companies of different Member States. It is calling upon Greece, Ireland, Italy, Luxembourg and the Czech Republic to notify it of their National transposition measures for directive 2004/56/EC modifying directive 77/799/EEC on mutual assistance by the competent authorities of the Member States in the field of direct taxation, certain excise duties and taxes on insurance premiums. Lastly, the Commission is calling upon Greece to notify it of its national measures to transpose directive 2004/76/EC modifying directive 2003/49/EEC on the the ability for certain Member States to apply transition periods for the application of the common taxation regime applicable to payments of interests and charges made between associated companies from different Member States.