on re-invested income. However, tax is due on profit distributions (including hidden distributions) at a rate of 24%. Despite the fact that only the moment of taxation was shifted from earning profits to their distribution, leaving the rest of the corporate taxation system mostly unchanged, the current legislation is said to be in violation of one of the fundamental freedoms of the European Union -- free movement of capital. Estonia is to remove this hindrance by January 2009 when the temporary derogation expires. In June 1992, Estonia replaced the ruble with its own freely convertible currency, the Kroon (EEK). A currency board was created and the new currency was pegged to the German Mark at the rate at 8 EEK for 1 DEM. When Germany introduced the Euro, the peg was changed to 15.6466 Kroon for 1 Euro. The Estonian government is intending to adopt the Euro as the country's currency on 1 January 2008 due to continued high inflation, and finalised the design of Estonia's Euro coins in late 2004.
agreement. Multilateral treaties, amending between certain parties only: They may conclude an agreement to modify the treaty between themselves if the possibility is provided in the treaty or the modification is not prohibited in the treaty (and does not affect the enjoyment of other parties of their rights and performance of their obligations, and does not relate to a provisions from which derogation is incompatible with the effective execution of the treaty's object and purpose). Parties shall notify other parties of their modifications Invalidity, termination, suspension of the operation of treaties Validity of a treaty or the consent of a treaty may be impeached only through the application of this convention. Invalidity, termination etc of a treaty or a party doesn't impair the duty of the state to fulfil obligations which are subject to IL.
3. a multiannual plan for market surveillance of 20 individual actions that the Commission will take over the next three years.5 2. Can a tax caught by Article 30 TFEU be defended on the basis of Article 36 TFEU? In which case the CJEU has discussed the issue for the first time? Article 30 TFEU prohibits not only costumes duties, butt also charges having an equivalent effect (CEE). 6 According to Community trade law, any derogation which is not construed strictly, is hostile to achievement of the common market. This principle is seen concretely in the form of Article 36 TFEU (ex Article 30 EC) (Weatherill, 2007, p. 359). Article 36 TFEU provides: "The provisions of Articles 34 and 35 shall not preclude prohibitions or restrictions on imports, exports or goods in transit justified on grounds of public morality, public policy or public security; 1 2 3
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