Case C-656/21: Judgment of the Court (Fifth Chamber) of 22 December 2022 (request for a preliminary ruling from the Tribunal Arbitral Tributário (Centro de Arbitragem Administrativa — CAAD) — Portugal) — IM Gestão de Ativos (IMGA) — Sociedade Gestora de Organismos de Investimento Coletivo SA and Others v Autoridade Tributária e Aduaneira (Reference for a preliminary ruling — Directive 2008/7/EC — Article 5(2)(a) — Indirect taxes on the raising of capital — Stamp duty on services relating to the marketing of shares in undertakings for collective investment in transferable securities)
Date: 2022-12-22
Institutions: Court of Justice
Subjects: company law, financial services, indirect tax, investment company, securities, stamp duty, tax law, tax on capital








C_2023063EN.01000801.xml










20.2.2023   


EN


Official Journal of the European Union


C 63/8






Judgment of the Court (Fifth Chamber) of 22 December 2022 (request for a preliminary ruling from the Tribunal Arbitral Tributário (Centro de Arbitragem Administrativa — CAAD) — Portugal) — IM Gestão de Ativos (IMGA) — Sociedade Gestora de Organismos de Investimento Coletivo SA and Others v Autoridade Tributária e Aduaneira
(Case C-656/21) (1)

(Reference for a preliminary ruling - Directive 2008/7/EC - Article 5(2)(a) - Indirect taxes on the raising of capital - Stamp duty on services relating to the marketing of shares in undertakings for collective investment in transferable securities)
(2023/C 63/10)
Language of the case: Portuguese

Referring court

Tribunal Arbitral Tributário (Centro de Arbitragem Administrativa — CAAD)

Parties to the main proceedings


Applicants: IM Gestão de Ativos (IMGA) — Sociedade Gestora de Organismos de Investimento Coletivo SA, IMGA Rendimento Semestral, IMGA Ações Portugal Cat A, IMGA Ações América Cat A, IMGA Mercados Emergentes, IMGA Eurofinanceiras, IMGA Eurocarteira, IMGA Rendimento Mais, IMGA Investimento PPR, IMGA Alocação Moderada Cat A, IMGA Alocação Dinâmica Cat A, IMGA Global Equities Selection Cat A, IMGA Liquidez Cat A, IMGA Money Market Cat A, IMGA Euro Taxa Variável Cat A, IMGA Dívida Pública Europeia, IMGA Retorno Global Cat A, IMGA Poupança PPR, IMGA Alocação Conservadora Cat A, IMGA Iberia Equities ESG Cat A, IMGA Iberia Fixed Income ESG Cat A, IMGA Alternativo, CA Curto Prazo, IMGA Ações Europa, IMGA Flexível Cat A, CA Monetário, CA Rendimento, Eurobic PPR/OICVM Ciclo Vida 35-44, Eurobic PPR/OICVM Ciclo Vida 45-54, Eurobic PPR/OICVM Ciclo Vida + 55, Eurobic Seleção Top, IMGA European Equities Cat A

Defendant: Autoridade Tributária e Aduaneira

Operative part of the judgment

Article 5(2)(a) of Council Directive 2008/7/EC of 12 February 2008 concerning indirect taxes on the raising of capital
must be interpreted as precluding national legislation which provides for the imposition of stamp duty on, first, the remuneration received by a financial institution from a common fund management company for the supply of marketing services for the purposes of new capital contributions aimed at the subscription of newly issued shares in funds and, second, the amounts which that management company receives from common funds in so far as those amounts include the remuneration which that management company has paid to financial institutions in respect of those marketing services.


(1)  OJ C 37, 24.1.2022.