CHAPTER IIGENERAL PROVISIONS
Article 5Transactions not subject to indirect tax
1
Member States shall not subject capital companies to any form of indirect tax whatsoever in respect of the following:
a
contributions of capital;
b
loans, or the provision of services, occurring as part of contributions of capital;
c
registration or any other formality required before the commencement of business to which a capital company may be subject by reason of its legal form;
d
alteration of the constituent instrument or regulations of a capital company, and in particular the following:
- (i)
the conversion of a capital company into a different type of capital company;
- (ii)
the transfer from a Member State to another Member State of the centre of effective management or of the registered office of a capital company;
- (iii)
a change in the objects of a capital company;
- (iv)
the extension of the period of existence of a capital company;
e
the restructuring operations referred to in Article 4.
2
Member States shall not subject the following to any form of indirect tax whatsoever:
a
the creation, issue, admission to quotation on a stock exchange, making available on the market or dealing in stocks, shares or other securities of the same type, or of the certificates representing such securities, by whomsoever issued;
b
loans, including government bonds, raised by the issue of debentures or other negotiable securities, by whomsoever issued, or any formalities relating thereto, or the creation, issue, admission to quotation on a stock exchange, making available on the market or dealing in such debentures or other negotiable securities.