Sat, Jul 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

EU UCITS and alternative investment funds can benefit from withholding tax exemption in France

Tuesday, September 10, 2013

amb
Markus Hammer
Benedicte Gravrand, Opalesque Geneva:

The French tax authorities recently rethought their withholding tax process.

A withholding tax is a tax levied on income (interest and dividends) from securities owned by a non-resident.

Normally, dividends paid by a French corporation to a non-resident shareholder are subject to a 30% withholding tax calculated on the gross dividends, although interest paid by a French company to a non-resident is not usually subject to tax.

According to a Tax Newsflash issued by PWC (PricewaterhouseCoopers) last week, France, after the ECJ Santander case in May 2012, removed the discrimination between resident and non-resident funds. French source dividends paid to non-French funds should no longer suffer French WHT, provided the fund resides in the EU, raises capital among several investors to invest in their interest, and operates "under conditions similar to those applicable under French law."

Further to that, the French tax authorities published new guidelines in August 2013, stating that there should be a general distinction between EU funds and non EU-funds, i.e.:

• Investment funds located in an EU Member State or EEA (European Economic Area) would obtain the withholding tax exemption subject to certain conditions / filing process. • Investment funds located outside the EU would remain su......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New