Dutch Court of Appeal decides that a Finnish investment fund is entitled to a refund of Dutch dividend withholding tax
EU direct tax group newsflashes ()
The 9 March 2012 case concerned a Finnish resident investment fund which was exempt from Finnish corporation tax. The investment fund is a so-called ‘open end’ investment fund (its participants can freely enter and leave the fund) and it is not required to distribute its profits to its participants. During the financial year 2008, the investment fund received Dutch portfolio dividends on which Dutch dividend withholding tax was levied. The investment fund argued that this levy infringes the free movement of capital (Article 63 TFEU). Read how the Dutch Court of Appeals ruled in this case.
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