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Italian Court of Cassation holds domestic regime is applicable on distributions to nonresident mutual funds

|Tax Alerts, Legislation & Policy, Na ...|United States, Italy, European Union
United States, Italy, European Union

  • The Court of Cassation held that the rate difference violated the principle of free movement of capital under Article 63 of the Treaty on the Functioning of the European Union.

  • Based on the decision, nonresident mutual funds are eligible for the same tax treatment as resident mutual funds.

  • Impacted nonresident mutual funds should consider the appropriate steps for filing for refund of the additio…

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