CELEX: 51987PC0157
Language: en
Date: 1987-04-10
Title: PROPOSAL FOR A COUNCIL REGULATION ( EEC ) AMENDING REGULATION ( EEC ) NO 1938/81 ON A COMMON MEASURE TO IMPROVE PUBLIC AMENITIES IN CERTAIN LESS-FAVOURED AGRICULTURAL AREAS OF THE FEDERAL REPUBLIC OF GERMANY

No C 115/10                                Official Journal of the European Communities                                     30. 4. 87
Whereas the said movements of capital may be distorted                (a) capital duty, as       defined    by   Council   Directive
by the existence, in the Member States, of differing                       69/335/EEC (x),
provisions concerning indirect taxes on transactions in               (b) transfer duties on immovable property where, as a
securities, which often give rise to double taxation and                   result of transactions in shares in companies, funds,
discrimination;                                                            associations or other legal persons whose assets
                                                                           consist in whole or in part of immovable property
Whereas, to eliminate these distortions, the abolition of
                                                                           situated in their territory, the purchaser acquires all
the taxes in question is the most appropriate solution as
                                                                           assets of or a position by virtue of which he is able to
regards the proper functioning of the capital market;
                                                                           exercise control over these companies, funds,
whereas this abolition should preferably occur on the
                                                                           associations or other legal persons. In this case,
date fixed for the liberalization of capital movements;
                                                                           transfer duties shall apply only in respect of the value
whereas it is nevertheless suitable to allow the Member
                                                                           of the immovable property, such value being
States, if they so wish, to phase the budgetary effects of
                                                                           determined in accordance with national legislation,
the abolition over a period,
                                                                      (c) value added tax applicable to interests or shares
                                                                           giving the holder thereof de jure or de facto rights of
HAS ADOPTED THIS DIRECTIVE:                                                ownership or possession over immovable property or
                                                                           part thereof.
                            Article 1
                                                                                                 Article 3
Member States which impose a tax on transactions in                   1.     Member States shall bring into force the laws, regu-
securities shall abolish it.                                          lations or administrative provisions necessary to comply
                                                                      with this Directive not later than 1 January 1990.
                            Article 2                                 2.     Member States shall inform the Commission of the
                                                                      provisions which they adopt for the application of this
1.     Member States shall refrain from levying any tax               Directive.
on transactions in securities, whether or not levied at a
flat rate, the base of which consists of the value of the                                        Article 4
security which is the object of the transaction.
                                                                      This Directive is addressed to the Member States.
2.    Notwithstanding paragraph 1, Member States may
levy:                                                                 O OJ No L 249, 3. 10. 1969, p. 25.
              Proposal for a Council Regulation amending Regulation (EEC) No 1938/81 on a common
              measure to improve public amenities in certain less-favoured agricultural areas of the Federal
                                                        Republic of Germany
                                                     '   COM(87) 157 final
                                  (Submitted by the Commission to the Council on 21 April 1987)
                                                           (87/C 115/10)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,                              five years from the entry into      force of the Regulation
                                                                      and that period expires on          23 July 1986; whereas
Having regard to the Treaty establishing the European                 paragraph 2 of the said Article      provides for a review of
Economic Community, and in particular Article 43                      the Regulation by the Council        acting on a proposal by
thereof,                                                              the Commission,
 Having regard to the proposal from the Commission,
Having regard to the opinion of the European Par-                     Whereas projects submitted in accordance with the
 liament,                                                              outline programme approved by Commission Decision
                                                                       82/107/EEC (3) could not be implemented because of
Whereas Article 11 (1) of Council Regulation (EEC) No                  the shortage of commitment appropriations in the
 1938/81 O , as amended by Regulation (EEC) No 1981/                   Community budget in 1986; whereas the duration of the
 85 (2), provides that the common measure is to run for
                                                                       O O J N o L 186, 19.7. 1985, p. 7.
 (') OJ No L 97, 20. 7. 1981, p. 1.                                    O OJ No L 44, 16. 2. 1982, p. 28.
 ---pagebreak---  30.4.87                                Official Journal of the European Communities                              NoC115/ll
common measure should therefore be extended by one                     '1.   The period envisaged for carrying out the
year so that the objectives of the measure can be                      common measure is six years from the entry into
achieved;                                                              force of this Regulation.'
Whereas the shortage of appropriations at Community                2. The second paragraph of Article 14 is replaced by the
level means that the application for aid must be carried               following:
forward again; whereas the restrictions in the second
                                                                       'Requests for carrying forward applications must be
paragraph of Article 14 of the said Regulation 1938/81
                                                                       made to the Commission within 30 days of the date
are therefore no longer applicable in the final phase of
                                                                       on which the Member State was notified of the result
the common measure,
                                                                       of the procedure laid down in Article 15.'
HAS ADOPTED THIS REGULATION:                                                                  Article 2
                           Article 1                               This Regulation shall enter into force on the third day
                                                                   following its publication in the Official Journal of the
Regulation (EEC) No 1938/81 is hereby amended as                   European Communities.
follows:
                                                                   This Regulation shall be binding in its entirety and
1. Article 11 (1) is replaced by the following:                    directly applicable in all Member States.