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EU: CJEU issues positive decision for foreign investment funds

EU: CJEU issues positive decision for foreign investment funds

On 21 June 2018, the Court of Justice of the European Union (CJEU) issued its judgment in Fidelity Funds (C-480/16). The underlying question of the case was whether it is in accordance with the free movement of capital that non-resident investment funds are subject to withholding tax on dividends received from their Danish portfolio investments while resident investment funds are exempted from withholding tax on such dividend payments.