# Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC, Division 1

Extent: E+W+S+N.I.

An arrangement whereby a participant in the arrangement takes contrived steps which consist in acquiring a loss-making company, discontinuing the main activity of such company and using its losses in order to reduce its tax liability, including through a transfer of those losses to another jurisdiction or by the acceleration of the use of those losses.

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Source: https://www.legislation.gov.uk/eudr/2011/16/annex/IV/part/II/division/B/division/1 (the official version)
Page: https://openlegislation.uk/eu-directive-2011-16/annex-IV/part-II/division-B/division-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.