Translation of "tax exemption " (English → French) :

A Co-ordination Centre is an undertaking belonging to a multinational group providing services to other members of the group. Under a 10-year license granted by the tax authorities, the taxable revenues of a Co-ordination Centre are determined according to the so-called "cost-plus" method. The cost plus method is normally aimed at avoiding double taxation and limiting tax avoidance. In the cost plus method, the taxable profit is calculated as a percentage of the aggregated operating costs. Although this method of taxation does not constitute State aid per se, its practical application may well give rise to State aid. With respect to the Belgian scheme, the Commission has concluded that the Belgian authorities apply the cost-plus method in a ...[+++] way that gives raise to State aid. Firstly, Belgium systematically uses a default mark-up rate of 8% without verifying whether this rate reflects the economic reality of the services provided by the Co-ordination Centres. Secondly, the way in which the expenditure of the Centre is calculated excludes significant operating cost items of the Centre. Thirdly, the Belgian Co-ordination Centres enjoyed additional tax advantages such as a withholding exemption on income distributions and a real-estate property tax exemption. The benefits reduce the amount of taxable profits and thus grants an advantage not justified under the EU State aid rules.

2. Calls on the Commission to propose, in the wake of such an assessment, an initiative designed to amend Directive 77/388/EEC, so as to enable the Member States to apply tax exemption in respect of private funding allocated to scientific and technological research.

1. Calls on the Commission to draw up a Green Paper on the effects of granting tax exemption in respect of funding allocated to scientific and technological research, with a view to assessing the impact of such a measure on the completion of the internal market and on economic growth in the EU;

The reduced tax rates are being maintained under the increased electricity tax. This means that the relevant firms will receive a higher tax exemption; however, they will also pay higher taxes than before. Furthermore, as part of the increase in electricity tax, a growing number of firms will pay the reduced rates and thus be covered by the partial tax exemption.

Let us look at other changes that are included in this treaty: bilateral reduction of withholding taxes on dividends, interest, royalties, reflecting the rates now accepted in force between most industrialized countries-is that so terrible; complete withholding tax exemptions for payment for the use of technology-I hope we are not against that; relief for Canadian residents from the application of U.S. estate taxes-that is the issue I raised earlier; and expansion of the exemption from U.S. tax for income earned by RRSPs, RRIFs, and Canadian pension plan-are we against that too?

Bill S-9 makes a number of important changes in this area, including bilateral reductions and withholding tax rates on dividends, interest and royalties reflecting the rates now accepted in most countries, a complete withholding tax exemption for payments for the use of U.S. technology, relief for Canadian residents from the application of U.S. estate taxes, increasing the maximum estate tax exemption from $60,000 to between $600,000 and $1.2 million U.S. I wonder if the Minister of Finance will be bringing in estate taxes in Canada in his next budget, making this section of the bill an exercise in futility.