“Articles 49 and 63FEU precluded legislation of a member state which applied the exemption method to nationally-sourced dividends and the imputation method to foreign-sourced dividends if it was established, first, that the tax credit to which the company receiving the dividends was entitled under the imputation method was equivalent to the amount of tax actually paid on the profits underlying the distributed dividends and, second, that the effective level of taxation of company profits in the member state concerned was generally lower than the prescribed nominal rate of tax.”
WLR Daily, 13th November 2012
Source: www.iclr.co.uk
