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European Commission v Portuguese Republic

Portugal imposed an ‘exit tax’ on the unrealised capital gains of companies which ceased to be resident there. In European Commission v Portuguese Republic (CJEU Case C-38/10) the European Commission took proceedings in the CJEU seeking a declaration that the Portuguese legislation contravened what is now Article 49 of the TFEU. The CJEU gave judgment in favour of the Commission holding that by prescribing ‘the immediate taxation of unrealised capital gains relating to the assets concerned but not of unrealised capital gains resulting from purely national operations’ Portugal had failed to fulfil its obligations under Article 49. 

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Why it matters: The CJEU upheld the Commission’s view that the Portuguese ‘exit tax’ legislation contravened Article 49 of the TFEU. See the article by...

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