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Corporate Simplification

 
Peter Cussons International Corporate Tax Partner PricewaterhouseCoopers explains the importance of Societas Europeas in terms of corporate simplification
 
On 8 October 2004 the Societas Europeas (SE) will become available in all 25 Member States of the enlarged EU. Whilst the 2001 SE regulation contains no tax provisions the SE is attractive in terms of corporate simplification and can in appropriate circumstances deliver tax advantages.
 
The primary rationale for considering forming an SE or transforming an existing plc or equivalent EU company into an SE would ordinarily be commercially rather than tax-driven. Investors and companies are always looking for cost reductions. Elimination of subsidiaries which may be rendered unnecessary by the advent of a more readily accessible pan-EU company should deliver considerable ...
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