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Title: EU: Spain Must End Tax Scheme Favoring Foreign Acquisitions - WSJ.com
Author: Fraser Trevor
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EU: Spain Must End Tax Scheme Favoring Foreign Acquisitions - WSJ.com: "The European Commission Wednesday said Spain must end a tax law...
EU: Spain Must End Tax Scheme Favoring Foreign Acquisitions - WSJ.com: "The European Commission Wednesday said Spain must end a tax law that appears to give an advantage to Spanish companies making acquisitions in other European Union countries.

The scheme allows Spanish companies to amortize goodwill on foreign acquisitions, even when the company being acquired isn't fully merged into the acquiring company.

'Spain argued that the measure was needed to offset fiscal and other legal obstacles allegedly faced by acquirers in the non-EU countries,' the commission said. 'However, the commission could not identify any such explicit obstacles in the vast majority of the more relevant third countries whose legislation it examined.'"

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