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01830/20.2BELRS AI generated

Portuguese tax law restricting foreign OICs to national law is incompatible with EU capital freedom.

Case Number 01830/20.2BELRS
Court / Authority
Jurisdiction Portugal (PT)
Decision Date
Outcome Allowed / Granted
Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The Supreme Administrative Court declared the limitation on tax exemption for foreign investment funds incompatible with EU law. The Authority argued that restricting exemptions to funds constituted under national legislation was necessary for fiscal control. The court ruled that such restrictions violate the freedom of capital movement guaranteed by Article 63 of the TFEU.

Legislator headnote

Official

ORGANISMOS DE INVESTIMENTO COLECTIVO LIVRE CIRCULAÇÃO DE CAPITAIS

Keywords

AI generated
freedom of capital movement investment funds tax exemption EU law compatibility national legislation restriction

Cited Legislation

AI generated
Article 63 of the Treaty on the Functioning of the European Union
Article 22 of the Investment Fund Law
Decreto-Lei 7/2015

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Full text

[Nº CONVENCIONAL] JSTA000P33557

[Nº DO DOCUMENTO] SA22025040201830/20

[RECORRENTE] AT - AUTORIDADE TRIBUTÁRIA E ADUANEIRA

[RECORRIDO 1] A...

[URL] https://www.dgsi.pt/jsta.nsf/35fbbbf22e1bb1e680256f8e003ea931/0F7E9B124ECCE37880258C93005763EB?OpenDocument

SUMÁRIO

O artigo 22.º do EBF, na redação que lhe foi dada pelo Decreto-Lei 7/2015, de 13 de Janeiro, na medida em que limita o regime de isenção nele previsto aos OIC constituídos segundo a legislação nacional, dele excluindo os OIC constituídos segundo a legislação de outros Estados, é incompatível com a liberdade de circulação de capitais que decorre do artigo 63.º do TFUE.