German tax refund rules violate EU law, says ECJ adviser

By Todd Buell (January 20, 2022, 17:03 GMT) — German rules on refunding withholding tax to non-resident companies violate fundamental EU rights on the free movement of capital, adviser says of the European Court of Justice in an opinion on Thursday.

Weighing in on a UK chemicals manufacturer’s dispute with the German tax authorities, the court’s general counsel said that a German law treating dividends from floating shares distributed to non-resident companies differently from those distributed to resident companies could not be justified on grounds of public interest and hampered investment. Free float refers to dividends from equity holdings that are less than 15% in the case of distributions up to…

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