44Furthermore, it cannot be held, contrary to the submissions of the Kingdom of Denmark, the Kingdom of the Netherlands and the Kingdom of Sweden, that resident and non-resident pension funds are in a different situation solely because the dividends paid to the latter are subject to a withholding tax. The national legislation at issue in the main proceedings does not simply provide for different procedures for charging tax depending on the place of residence of the recipient of nationally sourced dividends, but provides, in fact, that only non-resident pension funds are to be taxed on those dividends (see, by analogy, Joined Cases C‑338/11 to C‑347/11 Santander Asset Management SGIIC and Others [2012] ECR, paragraph 43).
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