Discrimination is not justified with investment funds

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2026

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cookies Settings

Discrimination is not justified with investment funds

June 30 2012
eu-flag2.jpg

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.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Request Access or Login

Topics

Feature Sponsored ITR Magazine July / August 2012
more across site & shared bottom lb ros

More from across our site

Transfer Pricing
Global digital
Beyond the headlines: Is TP becoming the new big law/big four battleground?
New Tier 1 entrants and an expanding cohort of established players indicate that law firms are becoming increasingly credible challengers in Europe's TP market
Tom Baker, October 12 2026
Awards
IFLR AWARDS MEA 2026-488.jpg
Al Tamimi collects top tax honour at IFLR/ITR Middle East Awards
Leading firms and individuals gathered in Dubai to celebrate standout legal, dealmaking and tax work across the region
October 09 2026
Transfer Pricing
55562737749_e3ceb7b9b6_o.jpg
A taxing week: COVID-19 has ushered in the aggressive tax authority age
Tax authorities want more revenue, have better tools to find it and are increasingly willing to fight for it
Sam Sholli, October 09 2026
Direct Tax
ej nedder resized.jpg
Exclusive: RSM expands global network with Lithuanian firm addition
Audifina, the sixth-largest firm of its kind in Lithuania, will bring a 90-strong team with offices in Vilnius and Kaunas to RSM’s international platform
Tom Baker, October 08 2026
Direct Tax
Back office
Why AI is reshaping tax risks for India’s GCCs
As global capability centres use AI to deliver services, MNEs face a fresh wave of PE and TP exposure that their existing playbooks weren't built for
Mehul Jain, October 07 2026
Direct Tax
Ryan
Ryan continues global expansion with Brazil tax technology firm acquisition
The deal for Comtax hands Ryan immediate scale in Brazil, with a near-70-strong team serving clients from São Paulo
Sam Sholli, October 06 2026
Direct Tax
handshake
Proskauer continues tax hiring spree with London partner duo
The arrivals of Julio Castro and Adam Blakemore mean the firm has added six tax partners to its global practice since the start of 2025
Tom Baker, October 05 2026
Direct Tax
Professor .jpg
Beyond the headlines: What if CbCR is reshaping avoidance rather than preventing it?
Tax authorities have gained unprecedented transparency through CbCR, but a new study suggests they may not be looking in the right places
Sam Sholli, October 05 2026
Direct Tax
Hands of project managers discussing project management strategy
A taxing week: The evolution of chief tax officers – from policing to partnering
The future chief tax officer will be judged not only on compliance, but on their ability to harness data, technology and AI to support strategic decision-making
Pavlo Boyko, October 02 2026
Rankings analysis
World Tax 2027 rankings Europe article image
World Tax Rankings Europe 2027 released: EY and KPMG lead promotions
More than 200 tier promotions reshaped this year's European rankings as several international firms strengthened their positions in key tax markets
Tom Baker, October 01 2026
Gift this article