text: the percentage referred to above is to be determined by the statutes of the SE. It may not be less than 5% nor more than 25%.
  Annual accounts
  The SE must draw up annual accounts comprising the balance sheet, the profit and loss account, and the notes to the accounts, and an annual report giving a fair view of the company's business and of its position; consolidated accounts may also be required.
  Taxation
  In tax matters, the SE is treated the same as any other multinational, i.e., it is subject to the tax regime of the national legislation applicable to the company and its subsidiaries. SEs are subject to taxes and charges in all member states where their administrative centres are situated.
  Winding-up
  Winding-up, liquidation, insolvency, and suspension of payments are in large measure to be governed by national law. When an SE transfers its registered office outside the Community, or in any other manner no longer complies with requirements of article 7, the member state must take appropriate measures to ensure compliance or take necessary measures to ensure that the SE is liquidated.
  Status of the legislation and implementation
  Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European company (SE).