PRINT THIS PAGE EVCA says fragmentation of tax and legal structures are damaging the European PE industry24/05/2004. Source: AltAssets. 
 The fragmentation of tax and legal structures across Europe are seriously impeding the development of the region's private equity industry, according to a report by the European Venture Capital Association (EVCA).
On a national level, numerous tax and legal restrictions are impeding fundraising and investment, and on a pan-European level, serious discrepancies between countries hamper a higher level of cross-border activity.
'If Europe wants the private equity and venture capital industry to reach its full potential in financing growth, development and entrepreneurship, then Europe must make its tax and legal environments more effective,' said EVCA secretary-general Javier Echarri.
The study identified the UK, Luxembourg and Ireland as being the countries with the most favourable environment for the development of private equity and venture capital. Finland, Germany, Austria, Denmark and the Slovak Republic were found to provide the least favourable tax and legal environments.
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