Journal of Accounting and Management Information Systems (JAMIS)

Societas Europa: identity crisis or tax management. A Turkish case study

Supp/2006 ,   p721..731

Özkök Çubukçu DILEK
Özkorkut KORKUT

Keywords:   Societas Europa, Turkey, Company Law, Tax Law, Europe, corporate mobility

European Company (Societas Europa, SE) Statute adopted by the European legislator in 2001, after nearly 30 years moribund period, was one of the most difficult processes in the legislation history of the European Union (EU). This new legal instrument is designed specially to respond to companies’ expectations for the simplified corporate mobility in the EU area. In order to ensure this mobility within EU borders best taxation rules have to be combined with best practicality of company law rules.
Due to the new legislation European Companies will be able to settle and to operate within the EU without barriers to freedom of establishment which is under the protection of articles 42, 48, 293 of the EC Treaty. The multinational companies recognition dispute seems to be removed with SE statute at first sight, but in this field two fundamental national systems, “real seat” and “place of incorporation”, still persevere in Europe. Besides, some other questions such as tax and conflict of law rules remain unresolved; tax matters are not included in SE Statute Regulation and Directive. These questions reduce significantly the practical attractiveness of the SE within Europe. As a case study, our paper claims to overview the problems related to the company law and tax law of the SE Statute with special consideration of Turkey which actually proceeds negotiations with the EU. It seeks to understand the conditions under which SE Statute will influence the Turkish Company Law Legislation in the near future.