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Financial statements 2011
8.2 European Commission
Related party transactions with the European Commission mainly concern the management by the Fund of private
equity and guarantee activities as described in the notes 6. In addition, the Commission manages the EC programmes
treasury on behalf of the Fund. The amounts included in the financial statements and relating to the Commission of the
European Communities are disclosed as follows:
EUR
31.12.2011
31.12.2010
ASSETS
Other assets
4 038 565
4 143 848
LIABILITIES AND EQUITY
Other liabilities and provisions
16 051
16 051
Share capital
180 000 000
180 000 000
INCOME
Commission income
7 636 042
6 335 436
EXPENSES
General administrative expenses
129 315
131 953
9 Taxation
The Protocol on the Privileges and Immunities of the European Communities, appended to the Treaty of 29 October
2004 establishing a Constitution for Europe, applies to the Fund, which means that the assets, revenues and other
property of the Fund are exempt from all direct and indirect taxes.