Full text: Taxation of foundations in Europe

58 costs due to legal fragmentation are far too high and the global competition emposed by American or Chinese companies that do not face this problem will further increase the pressure. ? Once the crisis is over the Member States and the European Union itself will have to con- solidate their budgets. As a result, tax regimes will have to levy more taxes. The fetish to- ward the stock exchange and the financial sector has lost its cult-like status, hence a who- le ideology is undergoing a setback. Those who claim the predominance of the State over the market and who have become aware of the importance of the real economy are now raising their voices and require that the virtual finance sector recognises its part of responsibility and make its contribution in cleaning up the mess. If individual measures undertaken are questioned with the argument that capital is very mobile and will always be in a position to avoid taxation anyway, it is the general framework enabling this tax avoidance that needs to be changed. As things stand today, it seems illusionary to hope for a change of this general framework. However, history teaches us that attitudes sometimes change quicker than one may expect - especially in times of crisis.

Note to user

Dear user,

In response to current developments in the web technology used by the Goobi viewer, the software no longer supports your browser.

Please use one of the following browsers to display this page correctly.

Thank you.