The European Court of Justice (ECJ) declared the French tax was discriminatory, preparing the way for a tax rebate to UK investment funds of up to €5bn.

France had levied a withholding tax of between 15pc and 25pc on dividends paid to foreign investors, while exempting local funds from the tax, a practice the ECJ said discriminated against international investors.

Isn\’t it great when courts deliver true tax justice?

5 thoughts on “Tax Justice!”

  1. What’s the betting that the French will do what they invariably do with an adverse ruling- firstly, ignore it, secondly, wrap up the repatriation of funds in red tape to delay it?

  2. So Much For Subtlety

    I predict that 1. the French will try to copy the Indians and retrospectively change the law and 2. Richard Murphy will praise them for doing so.

    Congratulations to Frances for trying to explain to the arrogant little bubble head why this was not a good idea.

  3. SMFS

    I wasn’t the only one trying to explain. There was an Indian businessman too. RM thinks transaction taxes don’t change prices. Well, no, they don’t if they are applied retrospectively….but if they are applied at the time they certainly do.

  4. The French appear to be doing exactly what the Crown Dependencies were doing albeit in reverse. Both practices appear to be unfair but the impartial (!) Dick Murphy only appears to be on the case of one!

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