Hybrid entities and capital duty
In Drukarnia Multipress sp. z o.o. v Minister Finansów (C-357/13) (22 April 2015) the CJEU found that a Polish partnership limited by shares qualified as a capital company for capital duty purposes.
Drukarnia a Polish company wished to convert into a partnership limited by shares (PLS). A PLS has individuals as partners but it can also issue stock. The issue was whether a PLS is a capital company (under Directive 2008/7) so that the planned restructuring would not be subject to capital duty.
The CJEU first observed that the definition of ‘capital company’ is wide and is not tied to any specific form of company. It can therefore cover any company firm association or legal person meeting the criteria set out in the Directive. The Directive also deems any other entity operating for profit to be a capital...
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Hybrid entities and capital duty
In Drukarnia Multipress sp. z o.o. v Minister Finansów (C-357/13) (22 April 2015) the CJEU found that a Polish partnership limited by shares qualified as a capital company for capital duty purposes.
Drukarnia a Polish company wished to convert into a partnership limited by shares (PLS). A PLS has individuals as partners but it can also issue stock. The issue was whether a PLS is a capital company (under Directive 2008/7) so that the planned restructuring would not be subject to capital duty.
The CJEU first observed that the definition of ‘capital company’ is wide and is not tied to any specific form of company. It can therefore cover any company firm association or legal person meeting the criteria set out in the Directive. The Directive also deems any other entity operating for profit to be a capital...
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