Keywords
Summary

Keywords

Tax provisions - Harmonisation of laws - Indirect taxes on the raising of capital - Tax on the transfer of securities - Meaning - Stock Exchange transactions - Irrelevant

(Council Directive 69/335, Art. 12(1)(a))

Summary

Article 12(1)(a) of Directive 69/335 concerning indirect taxes on the raising of capital must be interpreted as allowing a tax to be charged in the event of a transfer of shares irrespective, first, of whether the company issuing the shares is listed on a Stock Exchange and, secondly, of whether the shares are transferred on the Stock Exchange or directly from the transferor to the transferee.