BETA


2003/0239(CNS) Companies of different Member States: taxation of mergers, divisions, transfers of assets, exchanges of shares (amend. Directive 90/434/EC)

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON KARAS Othmar (icon: PPE-DE PPE-DE)
Committee Opinion JURI
Lead committee dossier:
Legal Basis:
EC Treaty (after Amsterdam) EC 094

Events

2005/03/04
   Final act published in Official Journal
Details

PURPOSE : to amend the Merger Regulation with respect to company taxation on restructuring.

LEGISLATIVE ACT : Council Directive 2005/19/EC amending Directive 90/434/EEC on the common system of taxation applicable to mergers, divisions, transfers of assets and exchanges of shares concerning companies of different Member States.

CONTENT : the Council adopted a Directive aimed at improving the system of taxation for companies of different Member States applicable to mergers, divisions, transfers of assets and exchanges of shares, thus confirming the agreement reached at its meeting on 7 December 2004.

The Directive is intended to contribute to the elimination of obstacles to the functioning of the internal market by amending Directive 90/434/EEC on the EU's common system of taxation.

The new provisions of the Directive concern:

- the extension of the scope to cover types of division where the company transferring branches of activity is not dissolved;

- the extension of the scope to cover entities which carry out cross-border activities in the Community;

- the addition of public limited-liability companies (Societas Europaea or SE) and cooperative societies (SCE) to the list of European companies under the scope of the Directive;

- the possibility for Member States not to apply provisions of the Directive when taxing a direct or indirect shareholder of certain corporate taxpayers;

- non taxation of persons having an interest in the shareholder on the occasion of restructuring transactions;

- clarification of the application of the rules to operations regarding conversion of branches into subsidiaries;

- amendment of the definition of exchange of shares;

- amendment of the scope of a provision regarding the countering of tax avoidance and tax evasion.

DATE OF TRANSPOSITION :

- regarding the transfer of the registered office of an SE or of an SCE, and with the entry (a) in the Annex to this Directive by 1 January 2006.

- all other provisions by 1 January 2007.

2005/02/17
   EP/CSL - Act adopted by Council after consultation of Parliament
2005/02/17
   EP - End of procedure in Parliament
2005/02/17
   CSL - Council Meeting
2004/12/07
   CSL - Council Meeting
2004/03/10
   EP - Text adopted by Parliament, 1st reading/single reading
2004/03/10
   EP - Decision by Parliament
Documents
2004/02/25
   ESC - Economic and Social Committee: opinion, report
2004/02/24
   EP - Committee report tabled for plenary, 1st reading/single reading
Documents
2004/02/24
   EP - Vote in committee
2004/02/23
   EP - Committee report tabled for plenary, 1st reading/single reading
Documents
2003/11/05
   EP - Committee referral announced in Parliament
2003/10/22
   EP - KARAS Othmar (PPE-DE) appointed as rapporteur in ECON
2003/10/17
   EC - Legislative proposal
2003/10/16
   EC - Legislative proposal published

Documents

History

(these mark the time of scraping, not the official date of the change)

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  • date: 2005-02-17T00:00:00 type: Act adopted by Council after consultation of Parliament body: EP/CSL
  • date: 2005-02-17T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2005-03-04T00:00:00 type: Final act published in Official Journal summary: PURPOSE : to amend the Merger Regulation with respect to company taxation on restructuring. LEGISLATIVE ACT : Council Directive 2005/19/EC amending Directive 90/434/EEC on the common system of taxation applicable to mergers, divisions, transfers of assets and exchanges of shares concerning companies of different Member States. CONTENT : the Council adopted a Directive aimed at improving the system of taxation for companies of different Member States applicable to mergers, divisions, transfers of assets and exchanges of shares, thus confirming the agreement reached at its meeting on 7 December 2004. The Directive is intended to contribute to the elimination of obstacles to the functioning of the internal market by amending Directive 90/434/EEC on the EU's common system of taxation. The new provisions of the Directive concern: - the extension of the scope to cover types of division where the company transferring branches of activity is not dissolved; - the extension of the scope to cover entities which carry out cross-border activities in the Community; - the addition of public limited-liability companies (Societas Europaea or SE) and cooperative societies (SCE) to the list of European companies under the scope of the Directive; - the possibility for Member States not to apply provisions of the Directive when taxing a direct or indirect shareholder of certain corporate taxpayers; - non taxation of persons having an interest in the shareholder on the occasion of restructuring transactions; - clarification of the application of the rules to operations regarding conversion of branches into subsidiaries; - amendment of the definition of exchange of shares; - amendment of the scope of a provision regarding the countering of tax avoidance and tax evasion. DATE OF TRANSPOSITION : - regarding the transfer of the registered office of an SE or of an SCE, and with the entry (a) in the Annex to this Directive by 1 January 2006. - all other provisions by 1 January 2007. docs: title: Directive 2005/19 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32005L0019 title: OJ L 058 04.03.2005, p. 0019-0027 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2005:058:TOC
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  • 3.45.04 Company taxation
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2.60.04
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Legislation
title
Companies of different Member States: taxation of mergers, divisions, transfers of assets, exchanges of shares (amend. Directive 90/434/EC)
type
CNS - Consultation procedure
final
subject