commiss decis april state aid form tax concess undertak oper centro di servizi finanziari ed assicurativi di triest pursuant articl italian law januari italian text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof interest parti notic submit comment requir articl letter date decemb commiss inform italian govern decid initi proceed pursuant articl treati respect tax concess provid articl italian law june appli transact centro di servizi finanziari ed assicurativi set citi triest provis commiss ask italian govern submit comment month receipt letter ask interest parti month public relev notic ii italian govern submit comment letter date februari june septemb novemb januari italian minist foreign affair discuss matter respons member commiss june decemb technic meet offici place rome june comment receiv member state interest parti iii scheme commiss origin letter decemb pursuant articl law januari italian author set triest centro di servizi finanziari ed assicurativi financi servic insur centr engag financi activ focus austria east european countri centr fund rais intern market resid sole itali transact resid centr hous foreign undertak provid intermediari assist servic intern busi undertak oper centr bank insur financi intermediari stock exchang oper admit accord commun rule freedom establish deem resid itali bank currenc market purpos enjoi tax concess revenu gener centr form exempt corpor tax local incom tax year open centr total exempt local incom tax incom undertak belong east european countri capit gain acquisit hold medium long term invest countri provis reduct indirect tax busi total budgetari cost concess estim law lit billion ecu million iv tax concess allow itali rule caught articl treati undertak engag class busi section italian territori confer advantag undertak competitor oper place context extens intra commun trade financi insur servic concess constitut state aid measur incompat common market qualifi derog provid treati observ italian govern seek justifi exempt ground decis eec commiss accept triest difficulti made elig exempt pursuant articl matter deterior rapidli result situat yugoslavia italian govern argu measur event qualifi exempt pursuant articl intend facilit activ great indisput interest commun privat capit mobil encourag creation financi market countri eastern europ distort competit caus state aid involv ampli offset substanti quid pro quo interest commun distort event limit reach level contrari common interest govern suppli commiss figur show region trade yugoslavia hungari poland fell lit million lit million govern view demonstr specif measur reviv economi neighbour countri possibl exempt region develop ground commiss observ provinc triest socio econom indic commiss commun method applic articl region aid method present level justifi aid region provis articl indic stand case gdp gva case structur unemploy basi nation index figur reach threshold lt gt nation index figur decis eec commiss accept provinc triest special econom geograph circumst qualifi exempt pursuant articl region aid stage analysi contempl method commiss confirm exempt decis march gener system region aid itali point gener situat area advers affect situat yugoslavia socio econom indic region measur term capita gdp pp event reach threshold lt commun averag equal averag mean region satisfi method test elig region aid pursuant point articl oper aid shore statu quo danger fashion method state grant region aid region satisfi test point articl doubt oper aid includ tax concess grant basi initi invest profit record undertak area question satisfi test point articl oper aid grant region develop ground turn provis point articl exempt aid develop econom activ interest commun recogn develop capit market countri eastern europ mobil privat capit vital import commun fact commun member state spare financi effort provid public fund make lack privat initi measur expressli stimul privat invest line import aspect extern relat polici citi triest tradit open east slavic speak minor experi insur bank special advantag posit uniqu commun promot initi kind facilit vital work reconstruct region yugoslavia hardest hit war figur suppli italian govern demonstr desir rapid reviv economi countri east region triest tradition point refer trade capit movement commiss decid initi proceed pursuant articl drew attent fact tax concess confin financi busi east european countri busi austria countri long busi enterpris conduct centr eastern europ austria commun interest justifi aid wide scope observ italian govern undertook confin tax concess profit deriv busi countri eastern europ measur fact confin secur import commun interest tax inspect measur prevent triangular financi transact realiti involv countri eastern europ commiss accept transact qualifi aid limit aid consid achiev object pursu financi measur commun member state show public initi interest investor market question true tax concess proport profit provid effect incent financi sector invest fix asset account small proport cost regard distort effect concess competit italian govern calcul domest system taxat benefit equal top profit assum profit fact suffici high bring top tax bracket tax advantag enabl undertak benefit reduc interest rate comparison market rate commiss consid distort strong contrari common interest take view conclus care review experi show initi estim extent distort accur reason order limit potenti distort effect tax concess understood pure specul oper exclud total amount aid grant subject condit total amount budgetari resourc forgon limit lit billion amount forgon differ sum paid profit tax local tax indirect tax transact special scheme appli sum payabl ordinari italian tax arrang special scheme appli total amount loan invest eastern europ special scheme appli exce ecu billion italian govern opinion condit roughli equival basi return loan invest tax rel uncertainti estim tax base rate tax payabl vari time advis effect scheme measur term invest carri commiss consid proper balanc cost benefit centr oper confin undertak resid itali commiss take view aid measur plan itali facilit develop activ indisput interest commun advers affect trade condit extent contrari common interest conclus constant review order establish forecast prove accur limit measur territori triest confer advantag citi put posit absorb difficulti proxim countri east posit border yugoslavia time comparison happen scheme extend itali reduc distort effect advers effect aid cohes develop region commun conclud purpos articl ec treati articl eea agreement aid measur issu confin transact countri eastern europ consid compat common market distort effect market financi servic strict review period appli measur limit time itali requir suppli detail regular report result enabl commiss measur good time effect match estim made condit impos refer restrict countri eastern europ limit scheme time report requir scheme allow perman durat restrict year understood assess pursuant articl ec treati articl eea agreement prejudic decis member state tax law adopt decis articl aid measur provid articl italian law januari take form tax concess financi undertak oper centro di servizi finanziari ed assicurativi di triest centr compat common market condit set articl articl natur legal person resid tax purpos itali permit engag class busi carri centr articl total tax concess grant nopt exce lit billion respect invest ecu billion respect loan grant profit transact countri eastern europ grant profit made centr year oper centr begin oper itali tax inspect measur prevent transact offset transact respect aid grant realiti countri eastern europ inform commiss measur measur includ unilater declar secur countri receiv invest loan centr effect ensur access inform destin real ownership fund involv order guarante transpar transact articl itali inform commiss gener measur implement articl law januari dai adopt measur articl itali inform commiss date centr begin oper dai date june year itali suppli commiss detail report previou calendar year activ report inform list undertak permit oper centr number financi volum transact carri broken class busi qualifi tax concess averag rate interest appli centr class busi qualifi tax concess total amount tax concess grant broken categori tax tax benefit shown differ amount tax paid transact special scheme appli amount payabl ordinari italian tax arrang itali delai suppli commiss detail inform oper centr commiss request commiss find inspect measur ineffect fund directli indirectli reinvest countri eastern europ itali inspect measur commiss articl decis address italian republ brussel april commiss karel van miert member commiss