It is expedient to define the circumstances in which domestic sales may be considered to be made at a loss and may be disregarded, and in which recourse may be had to remaining sales, or to constructed normal value, or to sales to a third country.

The scheme allows losses to be transferred but at the same time prohibits the surrendering company from using those same losses for tax purposes.

Ralph Ashmead, the consulting economist for Serecon Consulting of Calgary, gave us these figures in Saskatchewan and Alberta recently, a couple of weeks ago: cow-calf operators' equity loss, estimated at $3 billion; direct losses to the industry as of last fall, approximately $5 billion; meat sale losses to the end of August, approximately $1 billion; live cattle sales losses to the end of August, approximately $2.5 billion; the regional indirect loss to restaurants, to gas stations, and that sort of thing, $700 million.

As requested by the Council on 22 July 1999, the study: "will be undertaken in the general context of the Vienna European Council conclusions emphasising the need to combat harmful tax competition whilst taking into account that co-operation in the tax policy area is not aiming at uniform tax rates and is not inconsistent with fair tax competition, but is called for to reduce the continuing distortions in the Single Market also in view of stimulating economic growth and enhancing the international competitiveness of the Community, to prevent excessive losses of tax revenue or to get tax structures to develop in a more employment-friendly ...[+++] way.

bans on sales below cost (e.g. in France)

information of a sale below cost in conformity with prior contractual agreements.