French withholding tax scheme : the French State will have to reimburse Schneider and Air Liquide
On 1st March, French Council of State rendered a decision resolving a twenty years old dispute : the French State will have to return to Schneider Electric and Air Liquide a tax unduly paid by the groups on European dividends, at a level which will have to be determined by administrative justice.
For nearly 20 years, Schneider Electric, Air Liquide and other major French groups such as Engie or Axa have been demanding reimbursement by the State of the withholding tax, i.e. the tax they have paid on the dividends paid by their subsidiaries located in Europe.
François-Henri Briard, French Supreme Court Attorney and legal counsel for Schneider Electric group in this case, was interviewed by French Press Agency regarding this major tax litigation.