Discrimination is not justified with investment funds

June 30, 2012

In May the European Court of Justice (ECJ) found that French tax legislation is contrary to EU law when it taxes nationally-sourced dividends paid to certain investment funds which are resident in another state. Nadine Gelli, Eduardo Gracia and Manuel Paz of Ashurst explain why this break-through decision opens the door to a significant number of claims for full refunds to be filed by both EU and non-EU investment funds in France and all across Europe.

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