The European Union (EU) Merger Directive removes certain tax disadvantages encountered by companies and their shareholders in the course of a restructuring operation. However, in spite of amendments and European Court of Justice's (ECJ) interpretations of its provisions, various shortcomings...

This note examines a recent Dutch Supreme Court decision wherein the Court interpreted the phrase "independent part of an enterprise", which is the Netherlands equivalent to the phrase "branch of activity" under the Merger Directive (2009/133) and highlights certain conceptual difficulties with...