Resolution of the Central Economic-Administrative Court of 27 February 2008. Taxation of corporate transactions of the operation accordion. Is subject to Transfer Tax and Stamp Duty, in the form of company operations, the capital when there is an operation "Accordion" consisting of a simultaneous capital increase to lower it, to counteract social losses and return the assets of the entity, no returns to shareholders but the transaction is not subject on the basis that would be a unique corporate transaction, other than expanding operations or capital reduction carried out separately. Professor J.
Vergez Calvo in his book "The taxation of operations increased, reduced capital and social dissolution in the Corporate Transactions Tax, Valencia, 2006, pages 47 and 48, recognizes that there is any privileged treatment for of this operation compared to other corporate transactions. 85/3003/CEE Directive of 10th of June, foresaw the possibility that further increase the reduction was free, but the English legislature has not picked up.
Vergez Calvo in his book "The taxation of operations increased, reduced capital and social dissolution in the Corporate Transactions Tax, Valencia, 2006, pages 47 and 48, recognizes that there is any privileged treatment for of this operation compared to other corporate transactions. 85/3003/CEE Directive of 10th of June, foresaw the possibility that further increase the reduction was free, but the English legislature has not picked up.
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