..Strongly agrees with the EC that there is a need for EU action to make WHT refund/relief procedures more efficient. The high added value of an action at EU level would be that there would be an EU wide harmonized framework in place and no more fragmented WHT systems across the EU;
In its input to the EC consultation on withholding taxes and the new EU system to avoid double taxation, PensionsEurope e.g.:
- reminds that we have stressed for a long time that the relief at
source is the best practice for pension funds, but there are also many
other recent WHT proposals which the EC should thoroughly consider;
- reminds that in many countries pension institutions invest cross
border via specialised investments funds and/or vehicles to increase the
economies of scale, and it is important to ensure a tax-neutral
treatment of these investment structures as well;
- stresses that establishing a cross-border investment-friendly tax
environment in the EU not only requires removing unfair tax treatment
but also introducing tax incentives.
