Opinion of the Advocate General — ECLI:EU:C:2004:698
Date: 2004-11-09
Language of the case: Dutch
Based on: Treaty establishing the European Economic Community (1957)
Subject matter: Taxation;Indirect taxation
Procedure: Reference for a preliminary ruling
Origin: Netherlands

Summary of the Judgment Tax provisions – Harmonisation of laws – Indirect taxes on the raising of capital – Scope – Duty levied on securities intermediaries on the gross profits from activities related to those securities – Not included (Council Directive 69/335, Arts 4, 10 and 11) Directive 69/335 concerning indirect taxes on the raising of capital is to be interpreted as meaning that it does not preclude the levying on securities intermediaries of a duty on the gross profits from activities related to those securities, as such a duty does not fall within the scope of the directive. First, the event giving rise to the duty is not the carrying-out of a specific transaction such as those referred to in Articles 4, 10 and 11 of the directive but the exercise of a wide range of activities in connection with securities in general. Second, as the taxable base is made up of the gross profits made by the securities intermediaries in the exercise of various activities, the duty is more in the nature of a direct tax on income and therefore falls within a category of taxes not covered by Directive 69/335. (see paras 31-35, operative part)