Free movement of capital
4 important questions on Free movement of capital
Limitations of capital movement to and from third countries
- Art. 64 TFEU
- restrictions existing at 31st december 1993
- restrictive tax measure (65(4) TFEU)
- serious difficulties for the operation of economic an monetary union (66 TFEU)
- prevention of terrorism and combatting of related activities (75 TFEU)
Special derogation; justification ground I
- Special derogation (65(1)(a) TFEU)
- is the measure a provision of tax law
- no: 65(1)(a) not applicable
- yes: -->
- are the situations objectively comparable in residence or investment (Hein Persche)
- no: the measure is permitted
- yes: -->
- can the difference in treatment be justified by overriding reasons in the general interest (rule of reason)?
- no: the measure is arbitrarily discriminatory (65(3) TFEU)
- yes: measure is permitted
General derogations; justification ground II
- all requisite measures to prevent infringements of national law and regulations, in particular in the field of taxation and the prudential supervision of financial institutions
- procedures for the delclaration of capital movements for the purpose of administrative or statistical information
- grounds of public policy and public security
Conditions
- no harmonisation
- national measure must be intended to protect one of the interests mentioned
- not merely economic
- genuine and sufficiently serious threat to a fundamental interest of society (only for public policy/-security)
- must be:
- necessary
- proportionate
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Rule of reason; justification ground III
- no harmonisation
- no directly discriminatory measure
- justified by overriding requirements in the general interest
- no merely economic purpose
- necessity requireent
- least restrictive
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
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