Opinion of Advocate General in the case NN (L) International.

Council Directive 69/335 of 17 July 1969 concerning indirect taxes on the raising of capital does not preclude the levying of a tax on UCIs established in another Member State such as the annual tax on UCIs at issue in the main proceedings. Council Directive 85/611 of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities should be interpreted as not precluding the imposition of a tax, such as the annual tax on UCIs at issue in the main proceedings. Article 56(1) EC does not preclude tax legislation of a Member State such as the legislation at issue in the main proceedings, which subjects resident and non-resident UCIs to an annual tax on the basis of the net amounts subscribed in its territory. Article 49 EC does preclude a sanction such as that provided for in Article 162(2) of the Belgian Inheritance Tax Code, consisting of a potential prohibition, by court order, on the marketing of units in the territory of a Member State in the future, which is applicable only to foreign UCIs. 




Informatiesoort: Nieuws

Rubriek: Europees belastingrecht

H&I: Previews


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