Details of the tax plan for 2011, which unless otherwise indicated will apply from 1 January 2011, are summarized below. Direct taxation (a) Corporate taxation. The corporate income tax rate for profits exceeding to EUR 200,000 will be reduced to 25% from 25.5%. Measures are taken to combat (i) the trade in so-called empty companies with losses to be compensated, and (ii) the situation where a previously profitable empty company was bought and loss-making activities are subsequently shifted to that company. Under the proposed anti-avoidance measures, (i) losses incurred before the acquisition of the company cannot be used to credit...