Commentary

D4.206 Costs on conversion to the Euro

Corporate tax
Corporate tax | Commentary

D4.206 Costs on conversion to the Euro

Corporate tax | Commentary

European single currency

D4.206 Costs on conversion to the Euro

Regulations1 were introduced with effect from 1 January 1999 to remove some of the obstacles which could have arisen on the conversion to the euro of currencies in certain member states of the European Union.

Costs

The costs incurred by a company in converting its shares and securities into euros are deductible:

  1.  

    (a)     in the case of a trading company, as trading expenses2;

  2.  

    (b)     in the case of an investment company, as management expenses3;

  3.  

    (c)     in the case of an insurance company:

    1.  

      (1)     where the profits are assessed under the

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial