References/22 Dec 2015

Borenius advised leading global investment management companies on cross-border tax claims

We advised three of the world’s 10 largest investment management companies in reclaiming withholding tax unduly levied on Finnish-source dividends. These tax claims were considered justified as the Finnish dividend taxation applied to these companies was found to be in breach of the European Union’s principle on the free movement of capital.

The claims relate to a much-debated question as to whether the free movement of capital also applies to non-EU countries.

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Einari Karhu