By Todd Buell (October 14, 2021, 11:35 AM EDT) -- An adviser to Europe's highest court backed a French dividend tax law on the redistribution of profits Thursday, rejecting arguments by Schneider Electric and other major French companies that it violated a European Union statute.
The opinion by Advocate General Juliane Kokott said the EU's Parent-Subsidiary Directive didn't preclude a French law that taxed a profit redistribution designed to neutralize a tax credit to be received by the parent company's shareholder. The advocate general's opinion serves only as an advisory opinion to the Court of Justice, and the court's judges aren't bound to follow it, though they often do.
Kokott said the...
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