{
  "url": "https://openlegislation.uk/eu-directive-2008-7/article-5",
  "json_url": "https://openlegislation.uk/eu-directive-2008-7/article-5.json",
  "legislation": "eudr/2008/7",
  "legislation_title": "Council Directive 2008/7/EC of 12 February 2008 concerning indirect taxes on the raising of capital",
  "legislation_url": "https://openlegislation.uk/eu-directive-2008-7",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Transactions not subject to indirect tax",
  "text": "1. Member States shall not subject capital companies to any form of indirect tax whatsoever in respect of the following:\n(a) contributions of capital;\n(b) loans, or the provision of services, occurring as part of contributions of capital;\n(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;\n(d) alteration of the constituent instrument or regulations of a capital company, and in particular the following:\n(i) the conversion of a capital company into a different type of capital company;\n(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;\n(iii) a change in the objects of a capital company;\n(iv) the extension of the period of existence of a capital company;\n(e) the restructuring operations referred to in Article 4.\n2. Member States shall not subject the following to any form of indirect tax whatsoever:\n(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;\n(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.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudr/2008/7/article/5",
    "retrieved_at": "2026-11-01T15:22:22.816697+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}