CELEX: 51984PC0403
Language: en
Date: 1984-09-12
Title: PROPOSAL FOR A COUNCIL DIRECTIVE AMENDING DIRECTIVE 69/335/EEC CONCERNING INDIRECT TAXES ON THE RAISING OF CAPITAL

6. 10. 84                               Official Journal of the European Communities                            No C 267/5
                  Proposal for a Council Directive amending Directive 69/335/EEC concerning indirect
                                                 taxes on the raising of capital
                                                      COM(84) 403 final
                             (Submitted by the Commission to the Council on 20 September 1984)
                                                        (84/C 267/06)
THE COUNCIL OF THE EUROPEAN                                         HAS ADOPTED THIS DIRECTIVE:
COMMUNITIES,
                                                                                             Article 1
Having regard to the Treaty establishing the
European Economic Community, and in particular                      Directive 69/335/EEC is hereby amended as follows:
Articles 99 and 100 thereof,                                        1. The introductory phrase in Article 4 (2) is replaced
                                                                       by the following:
Having regard to the proposal from the Commission,
                                                                       '2.     The following transactions may, to the
Having regard to the opinion of the European Par-                      extent that they were taxed at the rate of 1 % as at
                                                                       1 July 1984, continue to be subject to capital
liament,
                                                                       duty:'.
Having regard to the opinion of the Economic and                    2. Article 7 is replaced by the following text:
Social Committee,
                                                                        'Article 7
Whereas indirect taxes on the raising of capital were                  1.     Member States shall exempt from capital
harmonized at Community level by Council Directive                     duty the transactions referred to in this Directive
69/335/EEC ('), as last amended by Directive                           which were as at 1 July 1984 exempted or taxed at
7 4 / 5 5 3 / E E C O ; whereas Council Directive 73/80/               a rate of 0,50 % or less.
EEC (3) fixed common rates for such taxes;                             2.     Member States may exempt from capital
                                                                       duty, or charge at a single rate not exceeding 1 °/o,
Whereas the economic effects of capital duty are                       transactions other than those referred to in
detrimental to the regrouping and development of                       paragraph 1.'
undertakings; whereas such effects are particularly
harmful in the present economic situation in which                  3. The introductory phrase in Article 8 is replaced by
there is a paramount need for priority to be given to                  the following:
stimulating investment;                                                'Member States shall exempt from capital duty the
                                                                       transactions referred to in Article 4 (1) and (2)
Whereas the best solution for attaining these                          concerning:'.
objectives would be to abolish capital duty; whereas,
however, the losses of revenue which would result                   4. Articles 6 and 9 are deleted.
from such a measure are unacceptable for certain                    5. Article 7 becomes Article 6; Article 8 becomes
Member States; whereas the Member States must                          Article 7; Articles 10 to 15 become Articles 8 to
therefore be given the opportunity to exempt from, or                  13.
subject to, capital duty all or part of the transactions
coming within its scope, it being understood that a                                         Article 2
single rate of tax must be charged within one and the
same Member State;                                                  Directive 73/80/EEC is hereby repealed.
Whereas there should be mandatory exemption for                                              Article 3
the transactions currently subject to the reduced rate
of capital duty and for those in respect of which the               Member States shall take the measures necessary to
charging of capital duty is at present optional,                    comply with this Directive not later than 1 January
                                                                    1986. They shall forthwith inform the Commission
                                                                    thereof.
O OJ No L 249, 3. 10. 1969, p. 25.                                                           Article 4
(2) OJ No L 303, 13. 11. 1974, p. 9.
(5) OJ No L 103, 18. 4. 1973, p. 15.                                This Directive is addressed to the Member States.