EU Drags Portugal To Int'l Court For Tax Discrimination

Law360, New York (January 23, 2014, 1:30 PM EST) -- The European Commission announced Thursday that it is suing Portugal in the European Union Court of Justice for imposing a draconian exit tax on any person who decides to permanently give up residency in the country.

Portugal’s current law imposes an immediate tax on all assets owned by a person who renounces their residency in the country, a policy that violates free movement treaties signed by Portugal and other EU member states, according to the EC.

“[S]uch immediate taxation penalizes those persons who decide to leave...
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