Personal taxation Tax systems do not as a general rule encourage investment by individuals in unlisted companies (taxation of reinvested capital gains, small or non-existent tax deductions, etc.). Moreover, fiscal transparency (i.e. the fact that all capital gains are attributed directly to the investor to avoid double taxation) is not de rigueur in all Member States (still less between them, in the case of transnational investment).
Les Etats membres ont déjà mis en oeuvre plusieurs mesures visant à promouvoir l'innovation par des incitations fiscales.