Explanatory Memorandum to COM(2001)442 - Authorisation of Portugal to apply a reduced rate of excise duty in the autonomous region of Madeira on locally produced and consumed rum and liqueurs and in the autonomous region of the Azores on locally produced and consumed liqueurs and eaux-de-vie - Main contents
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dossier | COM(2001)442 - Authorisation of Portugal to apply a reduced rate of excise duty in the autonomous region of Madeira on locally produced and ... |
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source | COM(2001)442 ![]() |
date | 27-07-2001 |
Weighing the importance of the legal certainty local economic operators require to develop their commercial activities against the need to set a time limit on tax derogations, the Commission proposes authorising this decision for a period of 7 years on the understanding that after 4 years Portugal will submit a report to the Commission enabling it to assess whether the reasons that justified the granting of the reduced rate still exist.
Comments on the proposed measures
Article 1 authorises Portugal to apply a reduced rate of excise duty on locally produced and consumed rum and liqueurs in the autonomous region of Madeira, and on locally produced and consumed liqueurs and eaux-de-vie in the autonomous region of the Azores.
Article 2 defines what should be understood by rum and liqueurs produced in Madeira and by liqueurs and eaux-de-vie produced in the Azores.
Article 3 sets the amount of the reduction.
Article 4 states the period for which the decision applies. A mid-term evaluation report will be requested for the purposes of assessing whether the reasons which justified the granting of the present derogation still exist.
Article 5 is purely formal.