The Danish Tax Authorities withhold 27% tax on dividends when the dividend is distributed to foreign shareholders. The foreign shareholders can reclaim the part of the dividend tax which exceeds the rate according to the relevant double taxation agreements...
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On February 11 2020 the Swedish Supreme Administrative Court rules that US RIC is comparable to Swedish investment funds Background A US investment fund (US RIC) claimed a refund of Swedish withholding taxes levied in 2006–2008 on Swedish dividends...
On 16 January 2020, the South Korean Supreme Court ruled that Luxembourg SICAVs are entitled to a reduced withholding tax rate on interest and dividend income under the Korea-Luxembourg tax treaty. The context In the past, Luxembourg SICAVs could...
On 30 January 2020, the European Court of Justice (“CJEU”) rendered its judgment in the “Deka” case (C-156/17). The Dutch Supreme Court referred three procedural questions to the CJEU regarding a refund of Dutch dividend withholding tax to foreign...
The College Pension Plan of British Columbia (CPPBC) is a tax-exempt pension fund under Canadian law with the legal form of a common-law trust. The CPPBC received dividends from German listed companies from 2007 to 2010, on which 15%...
The Case On 13 November 2019, the Spanish Supreme Court (Tribunal Supremo) issued a favorable decision confirming the right of a United States (US) Regulated Investment Company (RIC) to obtain a refund of the Spanish withholding tax on dividends paid...
On 19 October 2019, an important amendment (Real Decreto) to the Spanish Non-resident Income Tax Act was published in the BOE. It is key in the international tax practice since it states new requirements to prove the tax residency...
Beneficial ownership concept in Russia According to Russian tax law, any income distributed by a Russian company to a foreign company is subject to Russian withholding tax (WHT) at 15% for dividends and 20% for royalties, interest and other...
On September 5, European Court of Justice Advocate General Pitruzzella delivered his opinion in the case of Köln-Aktienfonds Deka v. State Secretary of Finance, which involves the application of the Dutch fiscal investment institution (FBI) fund regime to foreign...
The Supreme Court and the National High Court have handed down some 20 judgments so far this year ruling against Hacienda and in favor of several Asset Managers of investment funds, pension plans and life insurances. Justice has established that...