European Union:
Art. 63 Refunds Of WHT – European Court Decision Helps German Refunds (ACC Silicones Case)
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An important decision was given yesterday
striking down a German provision that required foreign investors to
demonstrate "no offset" of German withholding
taxes ("WHT") in order to get a
refund. This will facilitate thousands of claims by EU and non-EU
investors.
The decision is of high importance as currently more than 30,000
WHT reclaim applications are pending with the
Federal Tax Office which, hopefully, could move closer to a
resolution following this decision.
The decision follows an opinion of Advocate General Collins
("AG") issued a few months ago in the
case.
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