(1=most favourable,
3=least favourable)
7
Pension
Funds and Private Equity. Why? (2)
New favourable tax and legal regime §New structure for venture capital
§Taxation on non-listed companies: 5% compared to 16.3% in the EU
§Tax breaks for investment via venture capital funds
§Incentives for R&D, mainly for expenses
§Greece comes 4th in the PE investment environment evaluation
among EU countries
Country
2004
UK
1.26
Luxembourg
1.49
Ireland
1.53
Greece
1.75
Netherlands
1.76
Portugal
1.81
Belgium
1.82
Hungary
1.86
Italy
1.86
France
1.89
Switzerland
1.95
Spain
1.96
2003 average
1.97
2002 average
2.03