Etat belge, SPF Finances v NN (L) International SA

European Union – Freedom of movement. The Court of Justice of the European Union ruled, among other things, that art 49 of the EC Treaty had to be interpreted as precluding a national provision by which a member state imposed a specific penalty, namely a prohibition, ordered by a court, of making future investments of its units in that member state, on undertakings for collective investment (UCIs) governed by foreign law in the event of non-compliance by the latter with the obligation to file the annual declaration necessary for the recovery of a tax on UCIs or in the event of non-payment of that tax.

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