||All England Reporter
|| All ER (D) 250 (Jun)
||Court of Justice of the European Communities (Fourth Chamber)
Judges Lenaerts (President), Juhasz (Rapporteur), Silva de Lapuerta, Arestis and von Danwitz
||21 June 2007
European Community - Taxes - Internal taxes - Capital duty - Stamp duty - Company in Portugal increasing share capital through cash payment - Whether transaction subject to exemption pursuant to Community law fixing relevant date before member state acceded to Communities - Council Directive (EEC) 69/335.
European Community Taxes. In the case of a state such as Portugal, which acceded to the European Communities with effect from 1January 1986, in the absence of derogating provisions in the Act of Accession of that state or in another Community document, art7(1) of Council Directive (EEC) 69-335 (concerning indirect taxes on the raising of capital, as amended by Council Directive (EEC) 85-303) had to be interpreted to mean that the mandatory exemption for which it provided applied to all transactions falling within the scope of the directive, which, on 1July 1984, were exempted in that state from capital duty, or which were subject to that duty at a reduced rate of 0.50% or less. Arts7(1) and 10 of the directive prohibited the introduction, after 1January 1986, of stamp duty on a transaction increasing share capital falling within the scope of the directive which, on 1July 1984, was exempted from that duty under national law.
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