PURPOSE: to codify Council Directive 90/434/EEC on the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States.

LEGISLATIVE ACT: Council Directive 2009/133/EC on the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States

CONTENT: the Council adopted a directive on the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States. The new directive is aimed at codifying Directive 90/434/EEC. It supersedes the various acts incorporated in it, while fully preserving the content of the act being codified.

ENTRY INTO FORCE: 15/12/2009.

The European Parliament adopted, by 479 votes to 12 with 18 abstentions, under the consultation procedure, a legislative resolution approving the proposal for a Council directive on the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States (codified version). The report had been tabled for consideration in plenary by Diana WALLIS (ALDE, UK) on behalf of the Committee on Legal Affairs.

The Committee on Legal Affairs adopted a report drafted by Diana WALLIS (ALDE, UK) and approved the proposal for a Council Directive on the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States (Codified version). The proposal was approved as adapted to the recommendations of the Consultative Working Party of the Legal Services of the European Parliament, the Council and the Commission.

PURPOSE: to codify the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States.

PROPOSED ACT: Council Regulation.

CONTENT: the purpose of this proposal is to codify EU provisions on the common system taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States. In codifying legislative acts that have been amended frequently the EU is seeking to both simplify and clarify EU legislation.

The new Directive will supersede the various acts incorporated in it. It fully preserves the content of the acts being codified and hence does no more than bring them together, with only such formal amendments as are required by the codification exercise itself.

PURPOSE: to codify the common system of taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States.

PROPOSED ACT: Council Regulation.

CONTENT: the purpose of this proposal is to codify EU provisions on the common system taxation applicable to mergers, divisions, partial divisions, transfers of assets and exchanges of shares concerning companies of different Member States and to the transfer of the registered office of an SE or SCE between Member States. In codifying legislative acts that have been amended frequently the EU is seeking to both simplify and clarify EU legislation.

The new Directive will supersede the various acts incorporated in it. It fully preserves the content of the acts being codified and hence does no more than bring them together, with only such formal amendments as are required by the codification exercise itself.