2008-05-04
On March 20, 2008, the Treasury Department published Treasury Decision 9388. The T.D. updated the per se corporation list to include Bulgarian aktsionerno druzhestvos. The per se corporation list already includes a Societas Europaea or SE. See Treas. Reg. § 301.7701-2(b)(8).
With respect to many issues, EU regulations defer to the laws of the country in which the SE has its registered office. An SE must have a registered office in one of the Member States of the European Economic Area, which includes Norway, Iceland, Liechtenstein, and every country in the European Union. With the entry of Bulgaria into the European Union on January 1, 2007, an SE can now have its registered office in Bulgaria.
Bulgaria's SE is called an aktsionerno druzhestvo. The IRS and the Treasury Department stated in Notice 2007-10 that Treas. Reg. § 301.7701-2(b)(8) would be modified to include the aktsionerno druzhestvo on the per se corporation list. The temporary regulations in T.D. 9388 make that modification.