Opinion of the Advocate General — ECLI:EU:C:1998:418
Date: 1998-09-17
Language of the case: Danish
Based on: Treaty establishing the European Economic Community (1957)
Subject matter: Taxation;Indirect taxation
Procedure: Reference for a preliminary ruling
Origin: Denmark

Summary of the Judgment
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))
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, sec­
ondly, of whether the shares arc transferred
on the Stock Exchange or directly from the
transferor to the transferee.
I - 8679