Nordics below par in study on tax and legal environment

According to the European Private Equity & Venture Capital Association (EVCA) benchmarking study of European tax and legal environments for 2008, most of the Nordic countries continue to score below the overall European average. Only Denmark secured a place above the median score, together with Lithuania from the Baltics, the remainder of which also came in below par.

The study further revealed that there has been little overall improvement in conditions since the previous study in 2006, and that the gap between Europe's most and least favourable tax and legal environments has continued to widen considerably.

The study analysed the tax and legal conditions for limited partners, fund management companies and investee companies, as well as the environment for retaining talent at investment firms and investee companies. It was carried out in collaboration with KPMG M&A Tax services and was designed to assess the situation in all 27 member states. (Pages 14 and 15).

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