New Act on sanctions and measures against employers of third-country nationals staying in Belgium illegally

Monthly : February 2013

19 February 2013

Germany – New legislation on taxation of portfolio dividends and introduction of refund procedure – impact on Fokus Bank claims

Background In October 2011 (case C-284/09) the CJEU held that the German taxation of portfolio dividends paid to non-resident shareholders was not in line with the free movement of capital (see NA 2011-013). The judgment left Germany the choice between rendering all portfolio dividends (i.e. those paid to residents and non-residents) chargeable to corporation tax