Deduction of losses incurred in another Member State by a non-resident subsidiary following Marks & Spencer

The author approaches this topic by first briefly outlining the Marks & Spencer case as decided by the European Court of Justice (ECJ) and then considering the consequences in France. Next, loss carry-over and forfeiture in the European Union is examined, with special attention being paid to the practical aspects of the ECJ's decision. The author ends with some conclusions. An Appendix sets out the relevant loss relief provisions in 25 Member States.