Airbus 2015 Annual Report Download - page 132

AIRBUS GROUP REGISTRATION DOCUMENT 2015 l 100 l
GeneralDescription ofthe CompanyanditsShareCapital
3.4 Dividends
3.4.4 Taxation
The statements below represent a broad analysis of the current
Netherlands tax laws. The description is limited to the material tax
implications for a holder of the Company’s shares (the “Shares”)
who is not, or is not treated as, a resident of the Netherlands
for any Netherlands tax purposes (a “Non-Resident Holder”).
Certain categories of holders of the Company’s shares may
be subject to special rules which are not addressed below
and which may be substantially different from the general rules
described below. Investors who are in doubt as to their tax
position in the Netherlands and in their state of residence should
consult their professional Advisors. Where the summary refers to
“the Netherlands” or “Netherlands”, it refers only to the European
part of the Kingdom of the Netherlands.
Withholding Tax on Dividends
In general, a dividend distributed by the Company in respect
of Shares will be subject to a withholding tax imposed by the
Netherlands at a statutory rate of 15%. Dividends include
dividends in cash or in kind, deemed and constructive
dividends, repayment of paid-in capital not recognised as
capital for Netherlands dividend withholding tax purposes, and
liquidation proceeds in excess of the average paid-in capital
recognised as capital for Netherlands dividend withholding tax
purposes. Stock dividends paid out of the Company’s paid-in-
share premium, recognised as capital for Netherlands dividend
withholding tax purposes, will not be subject to this withholding
tax.
A Non-Resident Holder of Shares can be eligible for a partial or
complete exemption or refund of all or a portion of the above
withholding tax pursuant to domestic rules or under a tax
convention that is in effect between the Netherlands and the
Non-Resident Holder’s country of residence. The Netherlands
has concluded such conventions with the US, Canada,
Switzerland, Japan, almost all European Union Member States
and other countries.
Withholding Tax on Sale or OtherDispositions of
Shares
Payments on the sale or other dispositions of Shares will not
be subject to Netherlands withholding tax, unless the sale or
other disposition is, or is deemed to be, made to the Company
or a direct or indirect subsidiary of the Company. In principle,
a redemption or sale to the Company or a direct or indirect
subsidiary of the Company will be treated as a dividend and
will be subject to the rules set forth in “Withholding Tax on
Dividends” above.
Taxes on Income and Capital Gains
A Non-Resident Holder who receives dividends distributed by
the Company on Shares or who realises a gain from the sale or
disposition of Shares, will not be subject to Netherlands taxation
on income or capital gains unless:
 such income or gain is attributable to an enterprise or
part thereof which is either effectively managed in the
Netherlands or carried on through a permanent establishment
(“vaste inrichting”) or permanent representative (“vaste
vertegenwoordiger”) in the Netherlands;
 the Non-Resident Holder is not an individual and the Non-
Resident Holder has or is deemed to have, directly or indirectly,
a substantial interest (“aanmerkelijk belang”) or a deemed
substantial interest in the Company and such interest (i)does
not form part of the assets of an enterprise and (ii)is held by
the Non-Resident Holder with the main objective, or one of
the main objectives, to avoid Netherlands withholding tax on
dividends or Netherlands individual income tax at the level of
another person or entity; or
 the Non-Resident Holder is an individual and (i)the Non-
Resident Holder has, directly or indirectly, a substantial interest
(“aanmerkelijk belang”) or a deemed substantial interest in the
Company and such interest does not form part of the assets
of an enterprise, or (ii)such income or gain qualifies as income
from miscellaneous activities (“belastbaar resultaat uit overige
werkzaamheden”) in the Netherlands as defined in the Dutch
Income Tax Act 2001 (“Wet inkomstenbelasting 2001”).
Generally, a Non-Resident Holder of Shares will not have a
substantial interest in the Company’s share capital, unless the
Non-Resident Holder, alone or together with certain related
persons holds, jointly or severally and directly or indirectly,
Shares in the Company, or a right to acquire Shares in the
Company representing 5% or more of the Company’s total
issued and outstanding share capital or any class thereof.
Generally, a deemed substantial interest exists if all or part
of a substantial interest has been or is deemed to have been
disposed of with application of a roll-over relief.
Gift or Inheritance Taxes
Netherlands gift or inheritance taxes will not be levied on
the transfer of Shares by way of gift, or upon the death of a
Non-Resident Holder, unless the transfer is construed as an
inheritance or gift made by or on behalf of a person who, at
the time of the gift or death, is or is deemed to be resident in
the Netherlands.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015