In Brisal and KBC Finance Ireland, the CJEU ruled that imposing withholding tax on interest paid to EU financial institutions was contrary to TFEU article 56, unless the financial institutions could claim a deduction for their financing costs and other expenses. The decision may mean that some businesses currently incurring withholding tax in the EU are able to obtain a refund.
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In Brisal and KBC Finance Ireland, the CJEU ruled that imposing withholding tax on interest paid to EU financial institutions was contrary to TFEU article 56, unless the financial institutions could claim a deduction for their financing costs and other expenses. The decision may mean that some businesses currently incurring withholding tax in the EU are able to obtain a refund.
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