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Requesting a refund of double-taxed investments in the EU has been simplified.

by AI | 15.May 2024 | Europe in brief AI

If you own shares or bonds from another EU country, you will soon be able to more easily reclaim double-paid tax. The EU wants to encourage such investments with these new rules.

Euro banknotes. Photo: EUROPA PRESS

BRUSSELS – It will be easier for investors in other EU countries to get back taxes that have been paid twice. The “very important” new rules not only help investors, but also the European economy, believes Dutch Secretary of State Marnix van Rij.

A Dutch person who now, for example, receives dividends on Italian stocks or interest on German bonds can be taxed twice. The double taxation can be reclaimed, but this is often time-consuming and complicated. The finance ministers of the EU member states have now agreed that they will immediately correct the tax assessment or refund the overpaid amount within a certain time.

Investors are still discouraged from investing money in other EU member states, says Van Rij after consulting with his EU colleagues in Brussels. Whereas the European economy can only compete with the United States and China if European entrepreneurs can find investors to start or grow a business. With the new rules, this obstacle becomes “a thing of the past”, Van Rij observes with satisfaction. Although “it will still take a few years” before they are implemented.

(May 14, 2024)