Press Release: Direct Taxation: Commission opens a new infringement procedure against Greece for failure to comply with a Court judgment concerning taxation of income from inbound dividends

The European Commission decided on 28 January 2010, under Article 260 of the of the European Union, to open a new infringement procedure against Greece. Despite a 2009 European Court of Justice judgment, Greece has not communicated any changes to its legislation relating to the taxation of income from inbound dividends paid to individuals. If Greece fails to comply with the letter of formal notice, the Commission may refer the case to the Court of Justice a second time, seeking the imposition of a lump sum or penalty payment