Report 2011 - EFTA Court

State thereof. The EFTA State shall be bound by its acceptance to
implement the appropriate measures.
2. Where the EFTA State concerned does not accept the proposed
measures and the EFTA Surveillance Authority, having taken into
account the arguments of the EFTA State concerned, still considers
that those measures are necessary, it shall initiate proceedings
pursuant to Article 4(4) of this Chapter. Articles 6, 7 and 9 of this
Chapter shall apply mutatis mutandis.
The EU Reinsurance Directive
31. in Article 2(b) of Directive 2005/68/EC, of the European
Parliament and of the Council of 16 November 2005 on
reinsurance and amending Council Directives 73/239/EEC,
92/49/EEC as well as Directives 98/78/EC and 2002/83/EC,
(“the EU Reinsurance Directive”) a “captive reinsurance
undertaking” is defined as “a reinsurance undertaking owned
either by a financial undertaking other than an insurance or a
reinsurance undertaking or a group of insurance or reinsurance
undertakings to which Directive 98/78/EC applies, or by a
non-financial undertaking, the purpose of which is to provide
reinsurance cover exclusively for the risks of the undertaking
or undertakings to which it belongs or of an undertaking or
undertakings of the group of which the captive reinsurance
undertaking is a member.”
National law 3
32. The Liechtenstein Tax Act 4 comprises two kinds of taxes relating
to legal entities (Die Gesellschaftssteuern), a business income
tax (Ertragssteuer) and a capital tax (Kapitalsteuer). The legal
entities liable to pay income in Liechtenstein are listed in Article
3 Translations of national provisions are unofficial and are based on translations contained
in the documents of the case.
4 The case before the Court is based on the Liechtenstein Tax Act of 1961, as amended
with effect of 1 January 1998 (“the Tax Act”). in the meantime it has been replaced by the
Liechtenstein Tax Act of 23 September 2010, entering into force 1 January 2011.
Joined Cases E-4/10, E-6/10 and E-7/10 Principality of Liechtenstein, Reassur Aktiengesellschaft,
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Swisscom RE Aktiengesellschaft v EFTA Surveillance Authority