Corporate Tax Alert (04/07/2013)
ECJ issues decision in Argenta case
The Court of Justice of the European Union (CJEU) has, this morning of 4 July 2013, issued its judgment in the Argenta Spaarbank case (C-350/11).
The CJEU followed the Advocate-General’s advice and decided that the freedom of establishment principle is violated by a rule for calculating the notional interest deduction (NID). This rule states that the net assets of a permanent establishment (PE) located abroad, the income of which is tax exempt in Belgium, have to be excluded from the NID calculation basis.
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