Report 2011 - EFTA Court

EFTA Surveillance Authority shall not require recovery of the aid if this
would be contrary to a general principle of EEA law.
National law
11 The Liechtenstein Tax Act comprises two kinds of taxes relating
to legal entities (Gesellschaftssteuern), a business income tax
(Ertragssteuer) and a capital tax (Kapitalsteuer). The legal entities
liable to pay income tax in Liechtenstein are listed in Article
73(a) to (f) of the Act, among which foreign companies operating
a branch in Liechtenstein are made subject to the income and
capital tax under Article 73(e).
12 According to Article 77(1) of the Tax Act, business income tax is
assessed on the entire annual net income, which is defined as the
entire revenues minus company expenditures, including writeoffs
and other provisions. Under Article 79(2) of the Tax Act, the
income tax rate depends on the ratio of net income to taxable
capital and lies between the minimum level of 7.5% and the
maximum level of 15%. This tax rate may be increased by certain
percentage points, depending on the relation between dividends
and taxable capital, as described in Article 79(3) of the Tax Act.
13 Under Article 76(1) of the Tax Act, the basis for the capital tax
is the paid-up capital stock, joint stock, share capital, or initial
capital, as well as the reserves of the company constituting
company equity. According to Article 76(1), the capital tax is
assessed at the end of the company’s business year at a rate of
0.2%, in accordance with Article 79(1) of the Tax Act.
14 Section 5 of the Tax Act contains provisions regarding coupon
tax, which is levied on coupons under Article 88a(1) of the Tax
Act. The subjects of the tax are further defined in Article 88b to
Article 88e. Pursuant to Article 88a(1), coupon tax is levied on
the coupons of securities (or documents treated as equivalent
to securities) issued by “a national”. According to Article 88a(2),
the term “national” covers any person whose place of residence,
domicile or statutory seat is in Liechtenstein and undertakings
that are registered in the public register of Liechtenstein.
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