Il regime impositivo degli utili distribuiti ad organismi di investimento non residenti: l’insufficiente evoluzione della disciplina nazionale alla luce delle libertà fondamentali

This paper analyses the rules contained in Article 27(3) of Presidential Decree no. 600/1973, considering its recent evolution. More specifically, the withholding tax therein provided, which applies to the distribution of dividends from entities resident in Italy to non-resident Collective Investment Vehicles, will be analysed in light of EU fundamental freedoms. The first part of the paper focuses on the mentioned provision vis-a-vis intra-EU distribution of dividends, while the second part will investigate EEA and third-state distribution of dividends. Moving from these scenarios, and taking into account the relationship between domestic law and EU law, this study will emphasise possible incompatibilities between the mentioned Italian provision and the free movement of capital, providing an EU-law-compliant interpretation of the Italian rule at hand.