The denial of a foreign tax credit by the Spanish legislation for taxes accrued but not paid is compatible with EU law

EU direct tax group newsflashes ()

The European Court of Justice held in Banco Bilbao Vizcaya that Spanish legislation denying a foreign tax credit for taxes accrued but not paid because of an exemption in another member state does not violate EU rules on the free movement of capital. This issue of EUDTG provides the details.