ECJ Ruling Opens Doors for Recovery Efforts


Is your company due a refund?

ADDITIONAL ECJ INFORMATION


  • The SEC continues to produce certificates proving the US status of Registered Investment Companies (RICs) to support tax claims by the funds in foreign jurisdictions.


  • In addition to opportunities in dividends, ECJ also creates fixed income opportunities.


  • Ryan is structured to work collaboratively with internal fund personnel, custodians, sub-custodians, and service providers filing tax treaty reclaims.

Following the landmark ruling from the Court of Justice of the European Union (ECJ) that questioned the current practice of tax authorities, it has been disclosed that billions of dividend withholding taxes have been withheld by EU-member states.

Latest Developments:


June 14, 2019 – Dutch State Secretary of Finance stated that Dutch anti- abuse provisions are in line with the Court of Justice of the European Union’s (CJEU) ruling in Danish cases.


May 8, 2019 – Refund of withholding taxes is made easier in Germany due to German Anti- Treaty/Directive Shopping Rule breaching EU law.

The recent ECJ decisions are adding on to the growing population of ECJ court decisions permitting refund claims by foreign entities in recovering WHT paid in certain EU jurisdictions.


Successful Recoveries:


Refunds have been granted to RICs in:

  • Finland
  • France
  • Poland


Developments are imminent in Germany and Sweden throughout the remainder of 2019, and other EU countries expected to follow in 2020. Ryan has assisted with mitigating the impact of withholding tax for EU residents and non-EU residents as they relate to cross-border transactions.


THE TIME TO MOVE IS NOW!

PRESENTATION TO THE LOCAL TAX AUTHORITIES


Ryan along with our team of industry and local consultants will be visiting the following EU countries over a three-week span during the fourth quarter of this year:


  • Finland
  • Poland
  • France
  • Germany
  • Sweden

CONTACT US


Ian Boccaccio
972.934.0022
ian.boccaccio@ryan.com

Michael Messina
917.472.9476
michael.messina@ryan.com