Opinion of the Advocate General — ECLI:EU:C:2019:677
Date: 2019-09-05
Language of the case: Dutch
Subject matter: Free movement of capital
Procedure: Reference for a preliminary ruling
Origin: Netherlands

Request for a preliminary ruling from the Hoge Raad der Nederlanden (Netherlands) lodged on 27 March 2017 — Köln-Aktienfonds Deka v Staatssecretaris van Financiën (Case C-156/17) Language of the case: Dutch Referring court Hoge Raad der Nederlanden Parties to the main proceedings Applicant: Köln-Aktienfonds Deka Defendant: Staatssecretaris van Financiën Other parties: Nederlandse Orde van Belastingadviseurs, Loyens en Loeff NV Questions referred Does Article 56 EC (now Article 63 TFEU) mean that an investment fund established outside the Netherlands cannot be refused, on the ground that it is not subject to an obligation to withhold Netherlands dividend tax, a refund of Netherlands dividend tax which was withheld on dividends which that investment fund received from corporate bodies established in the Netherlands, whereas such a refund is granted to a fiscal investment institution established in the Netherlands, which, subject to the withholding of Netherlands dividend tax, distributes the proceeds of its investments to its shareholders or participants on an annual basis? Does Article 56 EC (now Article 63 TFEU) mean that an investment fund established outside the Netherlands cannot be refused a refund of Netherlands dividend tax which was withheld on dividends which it received from corporate bodies established in the Netherlands on the ground that it has not proved satisfactorily that its shareholders or participants satisfy the conditions laid down in Netherlands legislation? Does Article 56 EC (now Article 63 TFEU) mean that an investment fund established outside the Netherlands cannot be refused a refund of Netherlands dividend tax which was withheld on dividends which it received from corporate bodies established in the Netherlands, on the ground that it does not distribute the proceeds of its investments in full to its shareholders or participants on an annual basis at the latest in the eighth month following the end of the financial year, even if, in the country in which that investment fund is established, under the legislation there applicable, the proceeds of its investments, to the extent to which they are not distributed, (a) are deemed to have been distributed, and/or (b) are taken into account in the tax levied in that country on the shareholders or participants as though those profits had been distributed, whereas such a refund is granted to a fiscal investment institution established in the Netherlands, which, subject to the withholding of Netherlands dividend tax, distributes the proceeds of its investments in full to its shareholders or participants on an annual basis? ____________