Source: All England Reporter
Publisher Citation: [2012] All ER (D) 15 (Nov)
Court: Court of Justice of the European Union (First Chamber)
Judge:

Judges Tizzano (acting President of the Chamber), Borg Barthet, Levits (Rapporteur), Kasel and Berger

Judgment Dates: 25 October 2012

Catchwords

European Union - Freedom of movement - Capital - Freedom of establishment - Belgium maintaining different rules for taxation of resident investment companies from that of foreign investment companies - Whether such difference in treatment amounting to restriction on free movement of capital - Whether such difference in treatment amounting to restriction on freedom of establishment - Whether effects of judgment should be subject to temporal limitation - Treaty on Functioning of European Union, arts 49, 63 - Agreement on European Economic Area, arts 31, 40.

The Case

European Union Freedom of movement. On an application by the European Commission, the Court of Justice of the European Union declared that, by maintaining different rules for the taxation of income from capital and movable property according to whether it was earned by resident investment companies or nonresident investment companies with no permanent establishment in Belgium, Belgium had failed to fulfil its obligations under arts 49 and 63 of the Treaty on the Functioning of the European Union and arts 31 and 40 of the Agreement on the European Economic Area of 2 May 1992.

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