As announced in its action plan on the Capital Market Union (see EUROPE 11400), the European Commission on Monday 11 December presented a code of conduct on withholding tax, to help the member states to reduce costs and simplify procedures for cross-border investors in the EU.
“Today's code of conduct should help investors to avoid long delays and high costs when claiming withholding tax refunds”, and the European Commissioner Financial Services, Valdis Dombrovskis, in a press release.