natgillin/translations-raw huggingface dataset:
permit such public banking entities to recapitalise by raising new capital, attract investors and consolidate;
dovoliti takim osebam javnega prava na področju bančništva, da se znova financirajo z zbiranjem novega kapitala, pritegnitvijo vlagateljev in konsolidacijo;
establish a level playing field between public and private banks by recognising to the latter companies the same tax neutrality privilege previously granted to the sole public banks.
vzpostaviti enake konkurenčne pogoje za javne in zasebne banke, tako da se zadnjim prizna enak privilegij davčne nevtralnosti, kot je bil prej dodeljen izključno javnim bankam.
Article 7(2) of Law 218/1990 provided that 15 % of the gain realised at the time of the transfers was taxed upon the contributing entity (the local public entity) at the ordinary company tax rate (at the time 52,2 %, including 36 % of company tax IRPEG and 16,2 % of local tax ILOR).
V členu 7(2) Zakona 218/1990 je bilo določeno, da se 15 % dobička, ustvarjenega ob prenosih, obdavči pri prispevni osebi (lokalni osebi javnega prava) po običajni stopnji davka od dobička gospodarskih družb (takrat 52,2 %, vključno s 36-odstotnim davkom od dobička gospodarskih družb IRPEG in 16,2-odstotnim lokalnim davkom ILOR).
The statute provided that the 15 % amount of the gain being taxed could be imputed to either the single assets as new tax basis recognised by the transferee bank or goodwill.
Po določbah zakona je bilo 15 % obdavčenega dobička mogoče pripisati posamičnim sredstvom kot novo davčno osnovo, ki jo je priznala banka prejemnica, ali dobremu imenu.
The statute also provided that the cost basis of the assets contributed to the beneficiary bank was carried over to the recipient bank (carried-over assets basis) and substituted to the shares of the bank received by the contributing entity (substituted shares basis), except for the taxed 15 % gain which was recognised (basis step-up).
V zakonu je bilo tudi določeno, da se stroškovna osnova sredstev, vloženih v banko upravičenko, prenese na banko prejemnico (prenesena osnova sredstev) in nadomesti s kapitalskimi deleži banke, ki jih je prejela prispevna oseba (nadomeščena osnova kapitalskih deležev), razen za obdavčeni 15-odstotni dobiček, ki je bil priznan (povečanje osnove).
The scheme in essence provided for a regime of partial tax neutrality by which the contribution of a branch of business benefited from a roll-over relief provided that the tax basis of the business contributed was substituted to the shares received by the transferor and the business acquired is attributed by the transferee a tax basis equal to that which the assets had in the hands of the transferor prior to the contribution.
V shemi je bil v bistvu določen sistem delne davčne nevtralnosti, s katerim je imel vložek veje dejavnosti koristi od odložene olajšave, če je bila prispevana davčna osnova podjetja nadomeščena s kapitalskimi deleži, ki jih je prejel prenosnik, prejemnik pa je pridobljenemu podjetju pripisal davčno osnovo, enako osnovi, ki so jo imela sredstva, ko so bila v rokah prenosnika pred vložkom.
Such a regime provided for a misalignment between the current values of the assets at the moment of the contribution and their tax basis.
Tak sistem je predpisoval neusklajenost med tekočimi vrednostmi sredstev v trenutku vložka in njihovo davčno osnovo.
Pursuant to Article 7(2) of Law 218/1990 both the transferee and the transferor had to annex to their tax returns a prospectus to record the misalignment of values.
V skladu s členom 7(2) Zakona 218/1990 sta morala prejemnik in prenosnik svojim napovedim za odmero davka priložiti prospekt za evidentiranje neusklajenosti vrednosti.
Asset contributions relative to company reorganisations pursuant to the Merger Directive
Vložki sredstev glede na prestrukturiranja družb v skladu z Direktivo o združitvah
The Merger Directive since its original version covers mergers, divisions, transfers of assets and exchanges of shares concerning companies of different Member States when the following three requirements are met: (1) the companies must be listed in the Annex to the Directive; (2) the companies must be fiscally resident in a Member State and (3) the company must be subject to one of the national company taxes listed in Article 3(c) of the Directive.
Direktiva o združitvah vse od svoje prvotne različice zajema združitve, delitve, prenose sredstev in zamenjavo kapitalskih deležev družb različnih držav članic, kadar so izpolnjene naslednje tri zahteve: (1) družbe morajo biti navedene v prilogi k Direktivi; (2) družbe morajo imeti v davčne namene sedež v državi članici in (3) družbe so zavezanke za enega od nacionalnih davkov od dobička gospodarskih družb, navedenih v členu 3(c) Direktive.
Under the Merger Directive, a transfer of assets is defined as a transaction whereby a company transfers without being dissolved all or one or more branches of its activity to another company in exchange for the transfer of securities representing the capital of the company receiving the transfer (either a newly established subsidiary whose initial capitalisation consists of the transferred shares or an existing company).
V skladu z Direktivo o združitvah je prenos sredstev opredeljen kot operacija, s katero družba brez prenehanja prenese vse ali eno ali več vej svoje dejavnosti na drugo družbo v zamenjavo za prenos vrednostnih papirjev, ki predstavljajo kapital družbe, ki sprejme prenos (bodisi novoustanovljeno podružnico, katere začetna kapitalska struktura je sestavljena iz prenesenih kapitalskih deležev, bodisi obstoječo družbo).
The Merger Directive requires the assets transferred to represent a branch of activity, which means all the assets and liabilities of a division of a company that from an organisational point of view constitute an independent business or entity capable of functioning by its own means (Article 2(i) of the Directive).
V Direktivi o združitvah se zahteva, naj prenesena sredstva predstavljajo vejo dejavnosti, ki pomeni vsa sredstva in obveznosti ob delitvi družbe, ki z organizacijskega vidika tvorijo neodvisno poslovanje, torej subjekt, ki je zmožen delovati z lastnimi sredstvi (člen 2(i) Direktive).
In a recent judgement [6], the Court of Justice has clarified that in order to be covered by the Merger Directive a transfer of assets must encompass all the assets and liabilities relating to a branch of activity in their entirety.
V nedavni sodbi je Sodišče Evropskih skupnosti [6] pojasnilo, da mora prenos sredstev, če naj bi zanj veljala Direktiva o združitvah, vključevati vsa sredstva in obveznosti, ki se v celoti nanašajo na vejo dejavnosti.
The Merger Directive requires the consideration for the transfer of assets to consist exclusively of shares, since in contrast to the other transactions such as the mergers, divisions and exchanges of shares covered by the Merger Directive, no cash payment is permitted in the case of the transfer of assets.
V Direktivi o združitvah se zahteva, naj vložek za prenos sredstev vključuje izključno kapitalske deleže, saj v nasprotju z drugimi transakcijami, zajetimi v Direktivi o združitvah, kot so združitve, delitve in zamenjave kapitalskih deležev, v primeru prenosa sredstev gotovinsko plačilo ni dovoljeno.
Article 4 of the Merger Directive as cross-referenced by Article 9 provides that no taxes on capital gains may be levied at the transferee company level as a result of a transfer of assets.
V členu 4 Direktive o združitvah, kot se nanj navzkrižno sklicuje v členu 9, je določeno, da se na ravni družbe prejemnice kot posledica prenosa sredstev ne smejo obračunavati nobeni davki na kapitalske dobičke.
Capital gains are defined as the full difference between the real values (the fair market value) of the assets and liabilities transferred and their values for tax purposes (tax basis), irrespective of any specific definition of values under domestic laws.
Kapitalski dobički so opredeljeni kot celotna razlika med realnimi vrednostmi (pošteno tržno vrednostjo) prenesenih sredstev in obveznosti ter njihovimi vrednostmi za davčne namene (davčno osnovo), ne glede na kakršno koli posebno definicijo vrednosti v skladu z domačo zakonodajo.
The favourable treatment of realised gains pursuant to the Merger Directive dealing with transfers between companies of different Member States is based on a permanent establishment condition, meaning that only the assets that remain in a resident company or are effectively connected with a permanent establishment of the receiving company in the Member State of the transferring company may benefit from the tax deferral provided in Article 4 of the Directive.
Ugodna obravnava ustvarjenih dobičkov v skladu z Direktivo o združitvah, v kateri so obravnavani prenosi med družbami različnih držav članic, temelji na pogoju stalne enote, kar pomeni, da imajo od odloga, predvidenega v členu 4 Direktive, lahko korist le sredstva, ki ostanejo v družbi rezidentki ali so dejansko povezana s stalno enoto družbe prejemnice v državi članici prenosne družbe.
The Merger Directive thus provides a system of tax neutrality or deferral, rather than an exemption, because the Member State of the transferee company retains the right to tax the capital gains realised upon transfer of the assets at the time of their future disposal.
V Direktivi o združitvah ni določen sistem oprostitve, temveč sistem davčne nevtralnosti ali odloga, saj država članica družbe prejemnice obdrži pravico do obdavčitve kapitalskih dobičkov, ustvarjenih ob prenosu sredstev, ob njihovi prodaji v prihodnosti.
In order to remain taxable, the realised gains inherent in the transferred property have to be reflected in the tax accounts of the receiving company.
Da bi ustvarjeni dobički, ki so del prenesenega premoženja, ostali obdavčljivi, morajo biti izraženi v davčnih obračunih družbe prejemnice.
To satisfy this condition, all assets and liabilities transferred must enter the tax accounts of the receiving company at their value immediately prior to the transfer.
Za izpolnitev tega pogoja morajo biti vsa prenesena sredstva in obveznosti vneseni v davčne obračune družbe prejemnice glede na svojo vrednost tik pred prenosom.
Therefore the receiving company has to take over the tax basis of the transferring company without benefiting from an option to step up the tax basis to fair market value.
Zato mora družba prejemnica prevzeti davčno osnovo prenosne družbe, ne da bi imela koristi od možnosti povečanja davčne osnove na pošteno tržno vrednost.
Article 3 first set a discipline to determine the relative gains as the difference between the tax basis of the assets transferred in the hands of the transferor prior to the transfer and either the accounting value attributed by the transferor to the shares received as a result of the contribution or if higher the accounting value attributed by the transferee to the branch of business transferred.
V členu 3 je bila najprej določena disciplina za opredelitev relativnih dobičkov kot razlike med davčno osnovo prenesenih sredstev v rokah prenosnika pred prenosom in knjigovodsko vrednostjo, ki jo je prenosnik pripisal kapitalskim deležem, prejetim kot rezultat vložka, ali knjigovodsko vrednostjo, ki jo je prejemnik pripisal preneseni veji dejavnosti, če je višja.
Article 3 further provided that the gains could be recognised if a substitute tax of 19 % was paid.
V členu 3 je bilo nato določeno, da je dobičke mogoče priznati, če je bil plačan 19-odstotni nadomestni davek.
Under the new system, the tax bases inclusive of the realised gains were recognised as the new values of the assets both for the transferor and the transferee so that no misalignment between tax and accounting values was produced (contributions in accounting neutrality).
Po novem sistemu so bile davčne osnove skupaj z ustvarjenimi dobički priznane kot nove vrednosti sredstev za prenosnika in prejemnika, tako da ni bilo nobene neusklajenosti med davčno in knjigovodsko vrednostjo (vložki v knjigovodski nevtralnosti).
Under this system the contribution of the assets of a branch of business between companies in Italy was fiscally neutral, meaning that the gains realised from the transfer of assets in exchange of shares were not fiscally recognised provided that the tax basis of the business contributed was substituted over to the shares received by the transferor and the assets acquired received the carried-over basis that the assets had in the hands of the transferor (contribution in tax neutrality).
Po tem sistemu je bil vložek sredstev veje dejavnosti med družbami v Italiji davčno nevtralen, kar pomeni, da dobički, ustvarjeni iz prenosa sredstev pri zamenjavi kapitalskih deležev, niso bili davčno priznani, če je bila prispevana davčna osnova veje naprej nadomeščena pri kapitalskih deležih, ki jih je prejel prenosnik, in so pridobljena sredstva na podlagi prenosa prejela preneseno osnovo, ki so jo imela v rokah prenosnika (vložek v davčni nevtralnosti).
The Italian company tax system eventually underwent a major reform in 2003, at the same time that the realignment scheme of Law 350/2003 entered into force (1 January 2004). The reform was enacted by the D.Lgs.
V italijanskem sistemu davka od dobička gospodarskih družb je bila leta 2003 sčasoma izvedena velika reforma, ki je sovpadla z začetkom veljavnosti sheme prerazporeditve iz Zakona 350/2003 (1. januarja 2004).
No 344 of 12 December 2003, which for what is of interest of this review provided for:
Reforma je bila uzakonjena z D.Lgs. št. 344 z dne 12. decembra 2003, ki je glede obravnavanega v tem pregledu predvidel naslednje:
the abolition of IRPEG (the old company tax) and the introduction of a new company tax (IRES) at the rate of 33 %, with the abolition of the Dual Income Tax consisting of the application of a reduced IRPEG rate of 19 % to the amount of the taxable income reinvested in the company;
odpravo IRPEG (starega davka od dobička gospodarskih družb) in uvedbo novega davka gospodarskih družb (IRES) po 33-odstotni stopnji, z odpravo dvojnega davka na dohodek, ki je vključevala uporabo znižane 19-odstotne stopnje IRPEG na znesek obdavčljivega dohodka, znova vloženega v družbo;
the repeal of the credit imputation system, by which dividends were taxed again when received by the shareholders, but the company tax paid was deducted by imputation of a tax credit, and its replacement with an exemption system applicable to both domestic and foreign dividends;
razveljavitev sistema pripisovanja dobroimetja, v katerem so bile dividende znova obdavčene, ko so jih prejeli delničarji, plačani davek od dobička gospodarskih družb pa je bil znižan s pripisom davčnega dobroimetja, medtem ko je njegova nadomestitev s sistemom oprostitev veljala za domače in tuje dividende;
the introduction of a participation exemption regime for capital gains deriving from the sale of qualified shareholdings along with the repeal of the possibility to deduct the write-downs of participations held;
uvedbo sistema oprostitve deležev za kapitalske dobičke, ki izhajajo iz prodaje kvalificiranih deležev, skupaj z razveljavitvijo možnosti odbitja odpisov deležev v lasti;
The contributions of branches of activity and of qualifying shareholdings were not however transposed in the amended tax code, giving rise to a disparity of treatment between contributions of branches which are subject to the scheme of contribution in accounting neutrality pursuant to Article 175 of DPR 917/1986 and other company reorganisations subject to the tax neutrality scheme.
Vendar pa vložki vej dejavnosti in kvalificirani deleži niso bili preneseni v spremenjeni davčni zakonik, kar je povzročilo neskladje obravnavanja med različnimi vložki vej, za katere se uporablja shema vložkov v knjigovodski nevtralnosti v skladu s členom 175 DPR 917/1986, in drugimi prestrukturiranji gospodarskih družb v skladu s shemo davčne nevtralnosti.
As a result of the reform, the tax regime of capital gains realised through the sale or contribution of a branch of business is the same as that provided for the sale of the single assets.
Kot posledica reforme je sistem obdavčitve kapitalskih dobičkov, ustvarjenih s prodajo ali vložkom veje dejavnosti, enak kot sistem obdavčitve za prodajo posameznih sredstev.
In conclusion, as the law stood at the time of Law 350/2003 it was still more convenient from a tax viewpoint to transfer assets by way of an exchange of shares rather then the sale of assets because the sale of qualified participations was exempt (participation exemption), while the disposition of the underlying assets was taxable.
Glede na zakonodajo v času Zakona 350/2003 je bilo torej z davčnega vidika še vedno ugodneje prenesti sredstva z zamenjavo kapitalskih deležev kot s prodajo sredstev, saj je bila prodaja kvalificiranih deležev izvzeta (oprostitev deležev), medtem ko je bila prodaja osnovnih sredstev obdavčljiva.
The realignments under Laws 342/2000, 448/2001 and 350/2003
Prerazporeditve v skladu z zakoni 342/2000, 448/2001 in 350/2003
Banking reorganisations under Law 218/1990
Prestrukturiranja bančništva v skladu z Zakonom 218/1990
Law 218/1990 concerned the privatisation by transformation and asset-reorganisations of certain registered public banks (under Article 29 of the Royal Decree No 375 of 12 March 1936, converted into Law No 141 of 7 March 1938) into private joint stock companies to operate in the banking sector (Article 1 of Law 218/1990).
Zakon 218/1990 je zadeval privatizacijo s preoblikovanjem in prestrukturiranjem sredstev nekaterih registriranih javnih bank (v skladu s členom 29 Kraljevega odloka št. 375 z dne 12. marca 1936, preoblikovanega v Zakon št. 141 z dne 7. marca 1938) v zasebne delniške družbe, ki delujejo v bančnem sektorju (člen 1 Zakona 218/1990).
Pursuant to Article 7(2) of Law 218/1990, the capital gains realised from the contribution of banking assets were not fiscally recognised to ensure tax neutrality.
V skladu s členom 7(2) Zakona 218/1990 kapitalski dobički, ustvarjeni iz vložka bančnih sredstev, niso bili davčno priznani zaradi zagotovitve davčne nevtralnosti.
15 % of such gains, however, was recognised and subject to the general company tax rate of the time.
Vendar pa je bilo 15 % takih dobičkov priznanih, zanje pa je veljala takratna splošna stopnja davka od dobička gospodarskih družb.
As a result, the tax base of the assets transferred under Article 7(2) of Law 218/1990 was adjusted upward (realigned) by only 15 %, leaving the remainder 85 % of the gain unrecognised.
Posledično je bila davčna osnova sredstev, prenesenih v skladu s členom 7(2) Zakona 218/1990, prilagojena navzgor (prerazporejena) z zgolj 15 %, preostalih 85 % dobička pa je ostalo nepriznanih.
The balance resulting from the difference between, on the one hand, the value of the stocks received and the assets contributed and, on the other hand, the book value of such assets (only realigned by 15 %) was a suspended capital gain.
Znesek, ki je nastal kot razlika med vrednostjo prejetih deležev in vloženih sredstev na eni strani ter knjigovodsko vrednostjo takih sredstev (prerazporejenimi zgolj s 15 %) na drugi je bil odloženi kapitalski dobiček.
Its tax recognition was deferred until the moment the assets concerned would be sold for cash or the accounting reserve corresponding to the unrecognised balance would be distributed to the company’s shareholders as dividends.
Njegovo priznanje za davčne namene je bilo odloženo do trenutka, ko bi bila zadevna sredstva prodana za gotovino ali ko bi bila knjigovodska rezerva, ustrezna nepriznanemu znesku, razdeljena delničarjem gospodarske družbe v obliki dividend.
As a result, under the tax accounting of Law 218/1990, the capital gains relative to the assets exchanged in the course of the reorganisations covered by the Law were fiscally unrecognised for 85 % of their economic value.
Posledično je bilo po Zakonu 218/1990 pri davčnem obračunavanju kapitalskih dobičkov, povezanih z zamenjanimi sredstvi med prestrukturiranji, ki jih je obravnaval zakon, davčno nepriznanih 85 % ekonomske vrednosti teh dobičkov.
The banking reorganisations in question took place, according to the Italian authorities, between 1990 and 1998.
Po navedbah italijanskih organov so se zadevna prestrukturiranja bančništva zgodila med letoma 1990 in 1998.
The gains realised at that time were frozen since then and for the following years, with the obligation for the companies concerned to keep track of the misaligned values by specific documents to attach to the annual tax returns.
V tistem času ustvarjeni dobički so bili od takrat in za naslednja leta zamrznjeni, zadevne gospodarske družbe pa so morale neusklajene vrednosti evidentirati s posebnimi dokumenti, ki so jih priložile letnim napovedim za odmero davka.
Realignments under Law 342/2000
Prerazporeditve v skladu z Zakonom 342/2000
Pursuant to Article 17 of Law No 342 of 21 November 2000 [7] (Law 342/2000), the companies resulting from the banking reorganisations under Law 218/1990 were allowed to realign the tax bases with the accounting gains realised from the exchange of the assets in such reorganisations and still resulting from the companies’ books at the date of 31 December 1999, provided such companies paid a substitute company tax of 19 % on the amount of the gains in lieu of the 42,4 % global tax rate of the time (including 37 % company tax and 5,4 % local business tax).
V skladu s členom 17 Zakona št. 342 z dne 21. novembra 2000 [7] (Zakon 342/2000) je bilo gospodarskim družbam, ki so nastale zaradi prestrukturiranj bančništva v skladu z Zakonom 218/1990, dovoljeno prerazporediti davčne osnove s knjigovodskimi dobički, ki so bili ustvarjeni iz zamenjave sredstev pri takih prestrukturiranjih in še vedno izhajajo iz knjig gospodarskih družb na dan 31. decembra 1999, če so take družbe plačale 19-odstotni nadomestni davek od dobička gospodarskih družb namesto takratne 42,4-odstotne stopnje splošnega davka (ki je vključeval 37-odstotni davek od dobička gospodarskih družb in 5,4-odstotni lokalni davek od poslovanja).
The realignment was limited to the initial 85 % unrecognised or suspended gain.
Prerazporeditev je bila omejena na začetnih 85 % nepriznanega ali odloženega dobička.
By payment of the 19 % capital gain tax, both the companies holding the banking assets, and the companies holding the stock of the companies in question could realign their tax bases, respectively, of the assets and of the stocks concerned.
S plačilom 19-odstotnega davka na kapitalski dobiček so tako družbe imetnice bančnih sredstev kot družbe imetnice deležev zadevnih gospodarskih družb lahko ustrezno prerazporedile svoje davčne osnove zadevnih sredstev in deležev.
In case the stocks had been contributed or exchanged with other companies without cash realisation, such latter companies could also realign the value of the stocks exchanged.
Če so bili deleži vloženi ali zamenjani z drugimi gospodarskimi družbami brez denarne realizacije, so take družbe lahko prerazporedile tudi vrednost zamenjanih deležev.
The capital gain tax was however reduced to 15 % (in lieu of the 19 % substitute tax), if the banking company elected to only realign the tax value of its assets, rather than both the value of the assets and of the stock.
Davek na kapitalske dobičke pa se je znižal na 15 % (namesto 19-odstotnega nadomestnega davka), če se je bančna družba odločila, da bo prerazporedila le davčno vrednost svojih sredstev, ne pa vrednosti obeh, torej sredstev in deležev.
In this case, the sole beneficiaries of the realignment scheme were the banking companies holding the assets exchanged ab origine.
V tem primeru so bile edine upravičenke sheme prerazporeditve bančne družbe, ki so imele v lasti sredstva, zamenjana ab origine.
As a result of the capital gain tax payment, the beneficiaries eventually release the gains realised at the time of the original transactions (and held as non-distributable profit reserves) and may distribute them to shareholders as dividends.
Posledica plačila davka na kapitalski dobiček je, da upravičenci sčasoma sprostijo dobičke, ustvarjene med prvotnimi transakcijami (in zadržane kot rezerve nerazdeljivega dobička), in jih lahko delničarjem razdelijo kot dividende.