Fuerzas Eléctricas de Catalunya SA (FECSA) (C-31/97) y Autopistas Concesionaria Española SA (C-32/97) contra Departament d'Economía y Finances de la Generalitat de Catalunya.

• Jurisdiction: European Union
• Celex Number: 61997CJ0031
• ECLI: ECLI:EU:C:1998:508
• Date: 27 October 1998
• Court: Court of Justice (European Union)
• Procedure Type: Reference for a preliminary ruling
• Docket Number: C-31/97,C-32/97

Avis juridique important

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61997J0031

Judgment of the Court (Sixth Chamber) of 27 October 1998. - Fuerzas Eléctricas de Catalunya SA (FECSA) (C-31/97) and Autopistas Concesionaria Española SA (C-32/97) v Departament d'Economía y Finances de la Generalitat de Catalunya. - Reference for a preliminary ruling: Tribunal Superior de Justicia de Catalunya - Spain. - Directive 69/335/EEC - Indirect taxes on the raising of capital - Duty on notarial deeds recording the repayment of debenture loans. - Joined cases C-31/97 and C-32/97.

European Court reports 1998 Page I-06491

Summary
Parties
Grounds
Decision on costs
Operative part

Keywords

Tax provisions - Harmonisation of laws - Indirect taxes on the raising of capital - Taxation on notarial deeds recording the repayment of debenture loans - Not permissible

(Council Directive 69/335, Arts 11(b) and 12(1)(d))

Summary

Article 11(b) of Directive 69/335 concerning indirect taxes on the raising of capital must be interpreted as meaning that the prohibition of taxation on debenture loans extends to taxation on the repayment of such loans. Although that article does not expressly mention the repayment of debenture loans, nevertheless, prohibiting the levying of duty when debenture loans are issued but authorising it when such loans are repaid would have the effect, contrary to the objective pursued by the Directive, of taxing loans as overall operations for raising capital. Moreover, Article 11(b) prohibits not only taxation on debenture loans, but also on any formalities relating thereto.

Therefore Article 11(b) must be interpreted as meaning that the prohibition of taxation on debenture loans applies to a duty on notarial deeds recording the repayment of loans. Such a duty cannot come within the derogation provided for in Article 12(1)(d) of the Directive, since the repayment of a debenture loan constitutes a discrete financial transaction, separate from the discharge of a mortgage registered in order to secure the debentures resulting from the loan.

Parties

In Joined Cases C-31/97 and C-32/97,

REFERENCES to the Court under Article 177 of the EC Treaty by the Tribunal Superior de Justicia de Catalunya, Spain, for a preliminary ruling in the proceedings pending before that court between

Fuerzas Eléctricas de Catalunya SA (FECSA) (C-31/97),

Autopistas Concesionaria Española SA (C-32/97)

and

Departament d'Economía i Finances de la Generalitat de Catalunya,

on the interpretation of Articles 11(b) and 12 of Council Directive 69/335/EEC of 17 July 1969 concerning indirect taxes on the raising of capital (OJ, English Special Edition 1969 (II), p. 412),

THE COURT

(Sixth Chamber),

composed of: G. Hirsch, President of the Second Chamber, acting as President of the Sixth Chamber, G.F. Mancini, H. Ragnemalm (Rapporteur), R. Schintgen and K.M. Ioannou, Judges,

Advocate General: N. Fennelly,

Registrar: H. von Holstein, Deputy Registrar,

after considering the written observations submitted on behalf of:

- Fuerzas Eléctricas de Catalunya SA (FECSA), by Leopoldo López-Aranda y Domingo, of the Madrid Bar,

- Autopistas Concesionaria Española SA, by Francisco Bru Bonet, of the Barcelona Bar,

- the Departament d'Economía i Finances de la Generalitat de Catalunya, by Aureliano García Fernández, of the Legal Service of the Generalitat de Catalunya,

- the Spanish Government, by Paloma Plaza García, Abogado del Estado, of the State...