Resumen de Use of foreign losses: the advocate general wants to turn on the Marks & Spencer exemption, but the ECJ rejects the argument and states that EU law constitutes rights to deduct foreign losses
The article will � based on Advocate General Kokott�s opinion in the case C-172/13 Commission v. United Kingdom, prior cases on deduction of foreign losses and the ECJ�s ruling in case C-172/13 � analyse the option of either deducting foreign losses or rejecting the option of deducting the losses. In Advocate General Kokott�s opinion in the Commission v. United Kingdom case, the Marks & Spencer exemption is set out to not fall within EU law on freedom of establishment. Advocate General Kokott�s opinion states that EU law does not require Member States to allow for foreign losses to be deducted even if it is possible within a specific Member State. The ECJ confirmed the prior ruling in case C-446/03, Marks & Spencer and states that the Marks & Spencer exemption is still a part of EU law and the freedom of establishment.
