ECJ DECLARES ILLEGAL DISCRIMINATORY FRENCH DIVIDEND TAX LAW
June 1st, 2012
BY KEITH NUTHALL
THE EUROPEAN Court of Justice (ECJ) has declared illegal under European Union (EU) law a French 25% tax on dividends distributed to undertakings for collective investments in transferable securities (UCITS) that are based outside France. The problem is UCITS based in France pay no tax on these dividend transfers - and judges said this broke EU capital movement rules.
ENDS
THE EUROPEAN Court of Justice (ECJ) has declared illegal under European Union (EU) law a French 25% tax on dividends distributed to undertakings for collective investments in transferable securities (UCITS) that are based outside France. The problem is UCITS based in France pay no tax on these dividend transfers - and judges said this broke EU capital movement rules.
ENDS
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