Article 1
Article 6 of Directive 2003/49/EC is hereby amended as follows:...
Article 2
(1) Member States shall bring into force the laws, regulations...
Article 3
This Directive shall enter into force subject to, and as...
Article 4
This Directive is addressed to the Member States.
Council Directive 2004/76/EC
of 29.4.2004
amending Directive 2003/49/EC as regards the possibility for certain Member States to apply transitional periods for the application of a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty establishing the European Community, and in particular Article 94 thereof,
Having regard to the proposal from the Commission ,
Having regard to the Opinion of the European Parliament ,
Having regard to the Opinion of the European Economic and Social Committee ,
Whereas:
(1)
Council Directive 2003/49/EC of 3 June 2003 on the common system of taxation applicable to interest and royalty payments made between associated companies of different Member States provides for the abolition of taxation on those payments in the Member State where they arise, but also ensures that these payments are subject to tax once in a Member State.
(2)
The application of Directive 2003/49/EC is liable to cause budgetary difficulties for the Czech Republic, Latvia, Lithuania, Poland and Slovakia given the rates of withholding tax applied under national law and on the basis of tax conventions on income and capital and the revenue thus collected.
(3)
Those Acceding States should therefore be permitted, on a temporary basis, until the date of application referred to in Article 17(2) and (3) of Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments not to apply certain provisions of Directive 2003/49/EC concerning, in the case of Latvia and Lithuania, interest and royalty payments, and in the case of the Czech Republic, Poland and Slovakia, royalty payments only.
(4)
The measure provided for in this Directive is not an adaptation within the meaning of Article 57 of the 2003 Act of Accession.
(5)
Since the Member States are required to grant credit for tax deducted from interest and royalty payments, it is necessary to ensure that this Directive is transposed by the date of entry into force of the 2003 Act of Accession.
(6)
The provisions in this Directive must apply from the date of accession of the new Member States. The urgency of the matter justifies an exception to the six-week period provided for in point I.3. of the Protocol on the role of national parliaments in the European Union,
HAS ADOPTED THIS DIRECTIVE:
OJ C
OJ C
OJ C
OJ L 157, 26.6.2003, p. 49.
OJ L 157, 26.6.2003, p. 38.