In Belgium, foreign collective investment vehicles that publicly distribute shares or units are subject to the Belgian annual tax (BAT), once they are registered with the Belgian Financial Services and Markets Authority (FSMA). This annual tax, which has some...
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On 26 February 2019, the Court of Justice of the European Union (CJEU) issued its judgments inT Denmark and Y Denmark vs. the Danish Ministry of Taxation (Joined Cases C-116/16 and C-117/16 – “the dividend cases”) and in N...
On 3 December 2018, the Dutch Supreme Court published its decision in which it decided to maintain part of the preliminary questions to the European Court of Justice (“CJEU”) in the case Köln Aktienfonds Deka (C-156/17). At the same...
In a judgment dated November 22, the Court of Justice of the European Union ( CJEU) ruled that the currently-applicable French withholding tax scheme applicable to loss-making parent companies disregards EU rules requiring the free movement of capital. This...
On 24 August 2018, the Polish Ministry of Finance published a bill amending the WHT mechanism in Poland (‘the Bill’). On 4 October 2018, Poland’s lower house of parliament completed its first reading of the Bill. The Bill is...
Following a fierce political and public debate, the Dutch government on October 15 announced that it would no longer recommend abolishing the Dutch dividend withholding tax. At the same time, the Dutch government amended previous proposals that are part...
Asset managers must address tax-reclaim scandal
On 20 September 2018, the Court of Justice of the European Union (CJEU) issued its judgment in EV (C-685/16). The underlying question of the case was whether the “activity clause” in the German trade tax act for third country...
The Court of Justice of the European Union (ECJ) has ruled in a case brought by Fidelity Funds that Denmark’s withholding tax on dividends paid to non-resident funds is invalid. A State may not impose withholding tax on dividends...
In a recent study carried out by the European Commission, yet to be published, it was identified that a large number of EU Member States differentiate between resident and non-resident pension funds when it comes to the taxation of...