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Italian Court of Cassation holds EU regime on dividend distributions is also applicable to pension funds not qualifying as EU/EEA

|Tax Alerts, Legislation & Policy, National/Federal Taxation, Asset Management, Banking & Capital Markets|United States, Italy, European Union
United States, Italy, European Union

  • The Italian Court of Cassation held that the withholding tax rate difference between qualifying European Union (EU) or European Economic Area (EEA) and non-EU/EEA pension funds violated the principle of free movement of capital under Article 63 of the Treaty on the Functioning of the European Union (TFEU).

  • Based on the decision, foreign pension funds not qualifying as EU or EEA are eligible for the same tax treatment as EU or EEA funds.

  • Impacted nonresident pension funds should consider the approp…

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