France: Foreign UCITSs not liable to pay French dividend withholding tax : update
| This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice. |
Further to our Taxflash T12021, dated 13 June 2012, concerning the ruling of The European Court of Justice that the application of French withholding tax on dividends paid to foreign Undertakings for Collective Investment in Transferable Securities (UCITSs) is considered as discriminatory (as French domiciled UCITSs are considered as exempt from withholding tax in France), investors are strongly recommended to contact their legal/tax advisors to seek assistance in filing tax reclaims.
We will advise in due course of any relief and/or reclaim procedures that become available for customers via Clearstream Banking with regard to these UCITSs