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Belgian Court rules on abuse of Parent-Subsidiary Directive after the Danish cases
On 1 December 2020, the Ghent Court of Appeal ruled on the question whether the exemption of withholding tax (WHT) laid down in the Parent-Subsidiary Directive (PSD) could be refused on the basis of abuse. This case is particularly relevant because it is the first time that a Court of Appeal has applied the Danish cases. The implications cannot be underestimated, especially in an M&A environment.
