The letter was
compiled by 12 European and international associations, representing a broad
coalition of stakeholders active in the areas of real estate investment and
infrastructure. The initiative is supported by companies based in France,
Germany, Italy, Luxembourg, and the United Kingdom.
The companies, while
fully supporting the Commission's fight against tax evasion, oppose the
initiative, saying it could lead to abusive tax practices, while stressing that
its implementation is premature, given some important measures in this area
that have recently been implemented and their impact has not been adequately
assessed.
Particularly
noteworthy is the lack of a definition of "virtual entity", which may
lead to the targeting of companies with fewer employees or other
diversifications, which were created for legitimate business purposes. The
European Commission must therefore ensure that any new initiatives target
exclusively fictitious tax evasion entities.
You may read the
letter here.
