In this article, the author discusses the request by the Italian Supreme Court for a preliminary ruling from the ECJ regarding the compatibility of the 2016 Italian legislation reforming the governance and regulation of cooperative banks with the EU Capital Duty Directive (2008/7). In particular, that legislation imposes a levy on cooperative banks that avoid a requirement to join a cooperative banking group by contributing their business to a joint-stock company that carries out the banking activity. The author argues that the legislation violates the prohibition against Member States levying indirect taxes on capital contributions contained in article 5 of the Capital Duty Directive (2008/7)
Arginelli, P., Just a Brick in the Wall: Why Italy is Violating Council Directive 2008/7/EC in the Pending Ente Cambiano Case, <<EUROPEAN TAXATION>>, 2023; 63 (7): N/A-N/A [https://hdl.handle.net/10807/237394]
Just a Brick in the Wall: Why Italy is Violating Council Directive 2008/7/EC in the Pending Ente Cambiano Case
Arginelli, Paolo
2023
Abstract
In this article, the author discusses the request by the Italian Supreme Court for a preliminary ruling from the ECJ regarding the compatibility of the 2016 Italian legislation reforming the governance and regulation of cooperative banks with the EU Capital Duty Directive (2008/7). In particular, that legislation imposes a levy on cooperative banks that avoid a requirement to join a cooperative banking group by contributing their business to a joint-stock company that carries out the banking activity. The author argues that the legislation violates the prohibition against Member States levying indirect taxes on capital contributions contained in article 5 of the Capital Duty Directive (2008/7)
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