Portugal cannot tax foreign investment funds differently from funds established under Portuguese law, the European Union’s top court said in a landmark ruling worth millions of euros to funds on Thursday.
The ruling concerns Allianzgi-Fonds Aevn, a collective investment undertaking formed under German law, seeking to recover 34,305 euros ($37,900) in withholding taxes paid to Portugal on 2015 and 2016 dividend income.
The outcome is poised to impact dozens of other foreign investment funds seeking to challenge a 2015 law change in Portugal that made foreign investors subject to ...
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