natgillin/translations-raw huggingface dataset:
The tax exemptions are provided for in Article 25 of the EBF, entitled Mais-valias no âmbito do processo de privatização (capital gains as part of the privatisation process) which corresponds to Article 32-C in the original version of 2000 before the amendment of the EBF by Decree-Law 198/2001 of 3 July 2001.
Davčne oprostitve so predpisane s členom 25 EBF, imenovanim Mais-validas no âmbito do processo de privatização (kapitalski dobički kot del privatizacijskega procesa), ki ustreza členu 32-C iz originalne različice iz leta 2000 pred spremembami EBF z Zakonskim odlokom 198/2001 z dne 3. julija 2001.
For the purposes of establishing the profit liable for corporation tax in the case of wholly publicly owned companies and companies controlled by them, Article 25 EBF provides for the exclusion from the taxable amount of capital gains from privatisation and restructuring operations carried out in accordance with the strategic guidelines for the performance of the State's shareholder function and recognised as such by order of the Finance Minister.
Za namen ugotavljanja dobička, od katerega se plača davek od dobička pravnih oseb, v primeru podjetij v celoti v javni lasti in podjetij, ki jih ta nadzorujejo, člen 25 EBF določa izključitev kapitalskega dobička iz dejavnosti privatizacije in prestrukturiranja, ki so izvedene v skladu s strateškimi smernicami za opravljanje delničarske funkcije države in ki jih kot take z uredbo prizna finančni minister, iz davčne osnove.
Article 25 of the Portuguese EBF entered into force on 1 January 2000 pursuant to Article 103 of Law 3-B/2000 of 4 April 2000.
Člen 25 portugalskega EBF je začel veljati 1. januarja 2000 v skladu s členom 103 Zakona 3-B/2000 z dne 4. aprila 2000.
The decision to initiate the formal investigation procedure stated that Article 25 EBF seemed to constitute a state aid scheme within the meaning of Article 87(1) of the EC Treaty.
V odločitvi o sprožitvi uradnega postopka preiskave je navedeno, da naj bi člen 25 EBF predstavljal državno shemo pomoči v smislu člena 87(1) Pogodbe ES.
The scheme appeared to be an operating aid and, on the basis of the information available, was incompatible since it did not seem to be directed to any eligible investments or expense items.
Shema se je zdela kot pomoč za tekoče poslovanje in je bila na podlagi dostopnih podatkov nezdružljiva, saj ni bila videti usmerjena v kakršne koli upravičene naložbe ali odhodke.
Furthermore, none of the exemptions provided for in Article 87(2) and (3) of the EC Treaty appeared applicable.
Poleg tega se je zdelo, da ne bi mogli uporabiti nobene izmed izjem iz člena 87(2) in (3) Pogodbe ES.
Indeed, it constituted unjustified aid that gave public undertakings an advantage over their private competitors.
Shema je predstavljala neupravičeno pomoč, ki je javnim podjetjem dajala prednost pred zasebnimi tekmeci.
By letter received by the Commission on 21 December 2005 Portugal confirmed the information already provided during the Commission's preliminary assessment.
V dopisu, ki ga je Komisija prejela dne 21. decembra 2005, je Portugalska potrdila podatke, posredovane že med predhodno oceno Komisije.
The Portuguese authorities summarise developments in corporation tax on capital gains in Portugal as follows:
Portugalski organi razvoj dogodkov v zvezi z davkom od dobička pravnih oseb na kapitalski dobiček povzemajo, kot sledi:
From 1993 reinvested capital gains received preferential tax treatment, provided they derived from tangible fixed assets or shares held by holding companies (SGPS).
Od leta 1993 so bili ponovno investirani kapitalski dobički deležni prednostne davčne obravnave, če so izhajali iz opredmetenih osnovnih sredstev ali delnic holdingov (SGPS).
In such cases reinvestment of the proceeds leads to their exclusion from taxable profit.This situation changed from 2001.
V teh primerih ponovno investiranje prihodka vodi v izključitev le-tega iz obdavčljivega dobička.Te razmere so se spremenile leta 2001.
A positive balance between capital gains and capital losses was taxable as follows: when the proceeds were reinvested in the year they were realised, one fifth of the proceeds were taxable in the year they were realised and a further fifth in each of the following four years.From 2002 half of the capital gains became taxable, even if they were reinvested.In 2003 the situation changed again: SGPS (and risk capital companies, SCR) enjoyed total tax exemption of capital gains realised on shares they held, provided they held them for not less than one year.(12) The Portuguese authorities argue that the tax relief legislation merely applies to public-sector undertakings the same rules of capital gains taxation and tax neutrality as have applied to private companies engaged in corporate restructuring since the 1988 tax reform and the establishment of corporate income tax, Imposto sobre o Rendimento das Pessoas Colectivas (IRC).
Pozitivna bilanca med kapitalskim dobičkom in kapitalsko izgubo je bila obdavčljiva kot sledi: če je bil prihodek ponovno investiran v letu realizacije, je bila v letu realizacije obdavčena ena petina prihodka in ena petina v vsakem izmed naslednjih štirih let.Od leta 2002 je postala obdavčljiva polovica kapitalskega dobička, tudi če je bil dobiček ponovno investiran.Leta 2003 so se razmere ponovno spremenile: SGPS (in podjetja s tveganim kapitalom, SCR) so bila deležna popolne davčne olajšave za kapitalski dobiček realiziran z delnicami, ki so jih imele, če so jih obdržale eno leto ali več.(12) Portugalski organi trdijo, da zakonodaja o davčni olajšavi za podjetja iz javnega sektorja določa enaka pravila glede obdavčitve kapitalskega dobička in davčne nevtralnosti, kot to določa za zasebna podjetja, vključena v prestrukturiranje, od davčne reforme iz leta 1988 in uveljavitve davka od dobička pravnih oseb, Imposto sobre o Rendimento das Pessoas Colectivas (IRC), naprej.
The Portuguese authorities further argue that under Portuguese tax relief legislation reinvested capital gains receive preferential tax treatment, provided they derive from tangible fixed assets or shares held by holding companies.
Portugalski organi nadalje trdijo, da so v okviru portugalske zakonodaje o davčni olajšavi ponovno investirani kapitalski dobički deležni prednostne davčne obravnave, pod pogojem, da izhajajo iz opredmetenih osnovnih sredstev ali delnic holdingov.
In such cases, reinvestment of the proceeds leads to their exclusion from taxable profit, something which is an integral part of the Portuguese tax system.
V takih primerih ponovno investiranje prihodka pomeni njegovo izključitev iz obdavčljivega dobička, kar je sestavni del portugalskega davčnega sistema.
Article 25 EBF also excludes from the taxable base for IRC capital gains realised by 100 % state-owned companies and companies controlled by them.
Člen 25 EBF iz obdavčljive osnove za IRC izključuje tudi kapitalske dobičke, ki jih ustvarijo podjetja v 100-odstotni državni lasti in podjetja, ki jih ta nadzorujejo.
It only extends to such bodies the tax treatment applicable to the capital gains reinvested by holding companies and to corporate restructuring operations carried out by other private companies.
Tem podjetjem omogoča davčno obravnavo, ki velja za kapitalske dobičke, ki jih ponovno investirajo holdingi, in dejavnosti prestrukturiranja podjetij, ki jih izvršijo druga zasebna podjetja.
Eligible companies therefore derive no financial advantage when they are involved in privatisation, reorganisation or restructuring operations.
Upravičena podjetja v procesu privatizacije, preoblikovanja ali prestrukturiranja zato niso deležna nobene finančne ugodnosti.
According to the Portuguese authorities, the intention behind Article 25 EBF was precisely to avoid making privatisations and corporate restructuring operations in the public sector conditional on the involvement of a public holding company, thus facilitating the State's role as shareholder.
Portugalski organi pravijo, da je bil namen člena 25 EBF izogniti se pogojevanju privatizacijskih dejavnosti in dejavnosti prestrukturiranja podjetij v javnem sektorju z udeležbo javnega holdinga ter s tem omogočiti vlogo države kot delničarja.
The Portuguese authorities affirm that Article 25 EBF contains no provision which creates an exceptional system of taxation of capital gains compared with the ordinary system.
Portugalski organi zatrjujejo, da člen 25 EBF ne vsebuje nobene določbe, ki ustvarja izjemen sistem obdavčitve kapitalskega dobička v primerjavi z običajnim sistemom.
Its application confers no additional advantage on beneficiary companies involved in reorganisation or restructuring operations.
Uporaba tega člena ne daje nobene dodatne prednosti upravičenim družbam v procesu preoblikovanja ali prestrukturiranja.
The Portuguese authorities also notified their intention of repealing Article 25 EBF.
Portugalski organi so tudi sporočili, da nameravajo razveljaviti člen 25 EBF.
So, once it was repealed, every restructuring or privatising operation involving a public company would be treated under Portugal's ordinary tax relief system applicable to private enterprises.
Ko ta člen ne bi več veljal, bi bile vse dejavnosti prestrukturiranja ali privatizacije, ki vključujejo javno podjetje, obravnavane v okviru običajnega portugalskega sistema za davčne olajšave, ki velja za zasebna podjetja.
With regard to recovery the Portuguese authorities argued that: (a) only four transactions had benefited from the scheme, and in any case a private company would have obtained the same tax advantages by setting up a holding company and reinvesting the amount in financial assets; and (b) three of the four transactions had already been approved by the management of the Caixa Geral de Depósitos (CGD) with a view to privatisation (creation of an SGPS), given that at the time Article 25 EBF had not yet been adopted.
V zvezi z vračilom so portugalski organi trdili, da: (a) so korist od sheme imele samo štiri transakcije in da bi v vsakem primeru zasebno podjetje pri ustanovitvi holdinga in ponovnem investiranju zneska v finančna sredstva imelo enake davčne prednosti; in (b) je tri od štirih transakcij že odobrilo vodstvo finančne institucije Caixa Geral de Depósitos (CGD) z namenom privatizacije (ustanovitev SGPS), glede na to, da takrat člen 25 EBF še ni bil sprejet.
Therefore, given that no financial advantage was granted to the public undertakings, the Portuguese authorities deny that there is anything to recover.
Glede na to, da javna podjetja niso bila deležna finančne ugodnosti, portugalski organi zanikajo potrebo po vračilu.
The four transactions that benefited from the scheme are:
Štiri transakcije, ki so imele korist od sheme, so:
The sale by Mundial Confiança (MC), an insurance subsidiary of the Portuguese financial institution CGD, of its holding (5,46 %) in Crédito Predial Português (CPP) to Banco Santander Central Hispano (BSCH) on 5 April 2000.
Mundial Confiançe (MC), zavarovalniško hčerinsko podjetje portugalske finančne institucije CGD, je 5. aprila 2000 prodalo svoj holding (5,46 %) v banki Crédito Predial Português (CPP) banki Banco Santander Central Hispanu (BSCH).
The capital gain realised by MC was EUR 9,3 million.
Kapitalski dobiček podjetja MC je bil 9,3 milijona EUR.
The sale by Banco Pinto & Sotto Mayor (BPSM), controlled by CGD at the time of the transaction, of its holding (94,38 %) in Banco Totta & Açores (BTA) and its holding (7,09 %) in CPP to BSCH on 7 April 2000.
Banka Banco Pinto & Sotto Mayor (BPSM), ki jo je v času transakcije nadzorovala finančna institucija CGD, je 7. aprila 2000 prodala svoj holding (94,38 %) v banki Banco Totta & Açores (BTA) in holding (7,09 %) v banki CPP banki BSCH.
The capital gain realised by BPSM was estimated at EUR 310 million.
Kapitalski dobiček banke BPSM je bil ocenjen na 310 milijonov EUR.
A share exchange between MC and BCP.
Izmenjava delnic med podjetjem MC in banko BCP.
MC sold its holding (53,05 %) in BPSM to BCP in exchange for approximately 10 % of BCP on 19 June 2000.
Podjetje MC je 19. junija 2000 prodalo svoj holding (53,05 %) v banki BPSM banki BCP v zamenjavo za približno 10 % banke BCP.
The capital gain realised by MC was EUR 1566,4 million.
Kapitalski dobiček podjetja MC je bil 1566,4 milijona EUR.
The capital gain from the sale of CGD's stake in the Brazilian bank ITAÚ SA, which took place between 2000 and 2003.
Kapitalski dobiček od prodaje deleža finančne institucije CGD v brazilski banki ITAÚ SA, ki je potekala med letoma 2000 in 2003.
The total capital gain realised by CGD was EUR 357,4 million.
Kapitalski dobiček finančne institucije CGD je bil 357,4 milijona EUR.
The first three transactions were decided following agreements between the Champalimaud Group and BSCH.
Za prve tri transakcije so se odločili na podlagi sporazumov med skupino Champalimaud in banko BSCH.
To this end CGD and BSCH signed a contract on 11 November 1999 under which:
V ta namen sta finančna institucija CGD in banka BSCH 11. novembra 1999 podpisali pogodbo, s katero:
BSCH bought António Champalimaud's holdings in the Champalimaud Group and then sold them to CGD.
je banka BSCH kupila holdinge Antónia Champalimauda v skupini Champalimaud in jih nato prodala finančni instituciji CGD.
The holdings in BTA and CPP were sold to BSCH.
so bili holdingi v bankah BTA in CPP prodani banki BSCH.
The aim of restructuring the Champalimaud Group was to split up the banking and insurance activities in order to improve the efficiency of the Portuguese supervisory authorities (Banco de Portugal and Instituto de Seguros de Portugal).
Cilj prestrukturiranja skupine Champalimaud je bil ločiti bančne in zavarovalniške dejavnosti, da bi izboljšali učinkovitost portugalskih nadzornih organov (Banco de Portugal in Instituto de Seguros de Portugal).
In the fourth case the divestiture was decided following a new agreement between CGD and Unibanco (União de Bancos Brasileiros SA).
V četrtem primeru so se za odprodajo odločili po sklenitvi novega sporazuma med finančno institucijo CGD in Unibanco (União de Bancos Brasileiros SA).
The objective of the measure in question was to ensure the fiscal neutrality of privatisation and restructuring operations involving wholly publicly owned companies and companies controlled by them.
Cilj zadevnega ukrepa je bil zagotoviti fiskalno nevtralnost privatizacijskih dejavnosti in dejavnosti prestrukturiranja, v katere so bila vključena podjetja v celoti v javni lasti in podjetja, ki jih ta nadzorujejo.
The Portuguese authorities, in their role of shareholder in CGD, sent on 18 October 2000 and 31 March 2000 letters signed by the Finance Minister authorising the transactions referred to above in accordance with the strategic guidelines.
oktobra 2000 in 31. marca 2000 so portugalski organi kot delničarji v finančni instituciji CGD v skladu s strateškimi smernicami z dopisoma, ki ju je podpisal finančni minister, odobrili zgoraj navedene transakcije.
V. ASSESSMENT OF THE MEASURE
V. OCENA UKREPA
Does the scheme constitute state aid?
Ali shema pomeni državno pomoč?
The Commission confirms the decision to open the formal procedure to decide whether the measure is state aid.
Komisija potrjuje odločitev za sprožitev uradnega postopka o odločitvi, ali ukrep pomeni državno pomoč.
Article 25 EBF, which exempts from corporation tax public undertakings’ capital gains from privatisation and restructuring operations, constitutes a state aid scheme.
Člen 25 EBF, ki iz davka od dobička pravnih oseb izvzema kapitalski dobiček javnih podjetij iz privatizacijskih dejavnosti in dejavnosti prestrukturiranja, pomeni shemo državne pomoči.
The Court of Justice has consistently held that a measure whereby the public authorities grant certain undertakings a tax exemption which, although not involving a transfer of state resources, places the persons to whom the exemption applies in a more favourable financial position than other taxpayers constitutes state aid within the meaning of Article 87(1) of the Treaty.
Sodišče dosledno odloča, da ukrep, s katerim javni organi določenim podjetjem odobrijo davčno oprostitev, ki kljub temu, da ne vključuje prenosa državnih sredstev, osebe, na katere se nanaša oprostitev, postavlja v bolj ugoden finančni položaj kot druge davkoplačevalce, pomeni državno pomoč v smislu člena 87(1) Pogodbe.
The measure provided for in Article 25 EBF uses state resources because it is based on the non-collection of corporation taxes which would normally be due to the State.
Ukrep iz člena 25 EBF uporablja državna sredstva, ker temelji na neizterjavi davka od dobička pravnih oseb, ki bi navadno pripadal državi.
The decision to forego this revenue fulfils the criterion for state resources.
Odločitev, da se odreče temu dohodku, izpolnjuje merilo za državna sredstva.
Article 25 EBF, compared with the normal tax arrangements applicable to capital gains in Portugal, grants an advantage to the beneficiaries.
Člen 25 EBF v primerjavi z običajnimi davčnimi ureditvami, ki veljajo za kapitalski dobiček na Portugalskem, upravičencem dodeljuje prednost.
The normal tax arrangments to be taken into consideration are those applicable to undertakings without distinction as to ownership (public-owned or not) or nature (holding or not).
Upoštevati je treba običajne davčne ureditve, ki veljajo za podjetja ne glede na njihovo lastništvo (javno ali drugo) ali obliko (holding ali druga oblika).
The normal tax arrangements are not those applicable exclusively to holding companies because the transactions covered by Article 25 EBF (restructuring operations) may involve both holding and non-holding companies.
Običajne davčne ureditve niso ureditve, ki veljajo izključno za holdinge, ker lahko transakcije, ki jih ureja člen 25 EBF (dejavnosti prestrukturiranja), vključujejo holdinge ali podjetja, ki niso holdingi.
The preferential tax regime applicable to capital gains obtained by holdings in Portugal, became applicable from 1993.
Prednostni davčni režim za kapitalske dobičke holdingov na Portugalskem je začel veljati leta 1993.
However, at the time the transactions in question took place this preferential treatment applied only if the proceeds realised were reinvested.
Vendar je takrat, ko so bile izvedene zadevne transakcije, ta prednostna obravnava veljala samo, če je bil realizirani prihodek ponovno investiran.
This means that even by comparison with the arrangements applicable to holding companies, which were not the normal tax arrangements in Portugal, a selective advantage was accorded to wholly publicly owned companies and companies controlled by them.
To pomeni, da je bila tudi v primerjavi z ureditvami, veljavnimi za holdinge, ki niso bile običajne davčne ureditve na Portugalskem, podjetjem v celoti v javni lasti in podjetjem, ki jih ta nadzorujejo, dodeljena selektivna prednost.
An exemption from capital gains tax puts the publicly owned companies which benefit from it at an advantage compared with other companies operating in the same economic sectors because these public companies enjoy an increased cash flow for running their business.
Davčna oprostitev davka na kapitalski dobiček daje podjetjem v javni lasti, ki imajo korist od oprostitve, prednost v primerjavi z drugimi podjetji, ki poslujejo v istih gospodarskih sektorjih, saj je denarni tok za vodenje podjetij v javni lasti višji.
Whatever the purpose of the measure may be, state aid is determined on the basis of effects and not objectives.
Kakršen koli je že namen tega ukrepa, se državna pomoč določa na podlagi učinkov, ne ciljev.
The advantage is granted only to certain undertakings, namely undertakings that are wholly publicly owned and those controlled by them, undergoing privatisation or restructuring operations that comply with government policy objectives.
Prednost je dodeljena samo določenim podjetjem, to je podjetjem v celoti v javni lasti in podjetjem, ki jih ta nadzorujejo, v procesu privatizacije ali prestrukturiranja, ki je v skladu z vladnimi cilji politike.
It excludes all other undertakings, including privately owned companies competing with the publicly owned beneficiaries.
Izključuje vsa druga podjetja, vključno s podjetji v zasebni lasti, ki konkurirajo upravičencem v javni lasti.
The Commission notice on the application of the state aid rules to measures relating to direct business taxation states that, when some public undertakings, for example, are exempt from company taxes, such rules, which accord preferential treatment to undertakings having the legal status of public undertaking and carrying out an economic activity, may constitute state aid within the meaning of Article 92 of the Treaty.
Obvestilo Komisije o uporabi pravil državne pomoči za ukrepe, povezane z neposredno obdavčitvijo podjetij, navaja, da takrat, ko so na primer nekatera podjetja v javni lasti opravičena obdavčitve podjetja, takšna pravila, ki dodeljujejo prednostno obravnavo podjetjem, ki imajo pravni status javnega podjetja in izvajajo gospodarsko dejavnost, lahko pomenijo državno pomoč v smislu člena 92 Pogodbe.
The tax provisions of Article 25 EBF are de jure selective since they concern only certain companies (i.e. public companies or companies controlled by them).
Davčne odločbe člena 25 EBF so s pravnega stališča selektivne, saj se nanašajo samo na določena podjetja (to so podjetja v javni lasti ali podjetja, ki jih ta nadzorujejo).
The Portuguese authorities deny that the measure is selective, arguing that the measure addresses public-sector entities as a category of undertakings, and is thus a general measure.
Portugalski organi zanikajo, da je ukrep selektiven in trdijo, da se nanaša na subjekte javnega sektorja kot kategorijo podjetij ter je zato splošni ukrep.
This argument cannot, however, be accepted by the Commission for the following reasons.
Vendar pa Komisija tega argumenta ne more sprejeti zaradi naslednjih razlogov.
Firstly, there is no such concept as public-sector companies relevant for tax purposes as the companies that may potentially enjoy the advantage accorded by Article 25 EBF may in principle intervene on a wide variety of markets.
Prvič, koncept podjetij javnega sektorja ni ustrezen za davčne namene, saj podjetja, ki so morebiti lahko deležna prednosti po členu 25 EBF, načeloma delujejo na več trgih.
Secondly, this measure does not identify any aspects specific to public companies compared with private ones.
Drugič, ukrep ne opredeljuje nobenih vidikov, ki so značilni za podjetja v javni lasti v primerjavi s podjetji v zasebni lasti.
Private companies and foreign public companies with branches in Portugal may also engage in restructuring programmes.
Podjetja v zasebni lasti in tuja podjetja v javni lasti s podružnicami na Portugalskem tudi lahko sodelujejo v programih prestrukturiranja.
Their shareholders may decide to sell the companies, but would not be covered by the scheme.
Njihovi delničarji se lahko odločijo za prodajo podjetij, vendar jih shema ne bo zajemala.
Thirdly, only a subsector of public undertakings is targeted by this measure: those which are in a process of privatisation or restructuring where such operations are recognized by the Finance Minister.
Tretjič, ta ukrep je usmerjen samo v podsektor podjetij v javni lasti: to so tista podjetja, ki so v procesu privatizacije ali prestrukturiranja, ko te dejavnosti priznava finančni minister.
This measure is selective even in respect of undertakings in the public sector, also because of the discretionary power enjoyed by the competent authority.
Ta ukrep je selektiven celo za podjetja v javnem sektorju, tudi zaradi diskrecijske pravice pristojnega organa.
Therefore, the Commission concludes that Article 25 EBF grants a selective advantage.
Komisija zato ugotavlja, da člen 25 EBF dodeljuje selektivno prednost.
The selectivity implied by the measure concerned is not justified by the nature and the structure of the Portuguese tax system.
Narava in struktura portugalskega davčnega sistema ne upravičujeta selektivnosti, ki jo vsebuje zadevni ukrep.