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	<title>SunGard Transparency, Efficiency and Networks (TEN) - Capitalize on Change &#187; Added pressure: ECJ on French withholding tax</title>
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		<title>Added pressure: ECJ on French withholding tax</title>
		<link>http://blogs.sungard.com/ten/transparency/added-pressure-ecj-on-french-withholding-tax/</link>
		<comments>http://blogs.sungard.com/ten/transparency/added-pressure-ecj-on-french-withholding-tax/#comments</comments>
		<pubDate>Tue, 15 May 2012 06:00:34 +0000</pubDate>
		<dc:creator>David Lewis - senior vice president, Astec Analytics, SunGard’s capital markets business</dc:creator>
		<dc:contributor>dlewis</dc:contributor>				<category><![CDATA[Capital Markets]]></category>
		<category><![CDATA[Transparency]]></category>
		<category><![CDATA[bankers]]></category>
		<category><![CDATA[ECJ]]></category>
		<category><![CDATA[European Court of Justice]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[tax]]></category>

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		<description><![CDATA[The European Court of Justice (ECJ) has now ruled as of May 10, 2012, on the tax discrimination alleged by nine institutions over withholding tax levied on foreign investors in French equities compared with domestic funds which are exempt. Withholding tax is levied at up to 25% on dividends paid out to investors by equity issuers, but where investors from different countries are not taxed at the same level, it is considered to be contrary to the Free Movement of Capital across the European Union.
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