Portuguese withholding tax on dividends is contrary to EU law, the European Court of Justice (ECJ) ruled on 17.03.2022

On 17.03.2022, the ECJ has ruled in favor of AllianzGI investment funds against the Portuguese tax authorities. The Court has stated that foreign investment funds are not treated equally for tax purpose like local investment funds in Portugal. This is an infringement to articles 56 and 63 TFEU on the free movement of capital within the EU. AllianzGI asked for the refund of the full withholding tax on Portuguese dividends FY2015 and FY2016.

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Source of the ruling here :

https://curia.europa.eu/juris/fiche.jsf?id=C%3B545%3B19%3BRP%3B1%3BP%3B1%3BC2019%2F0545%2FP&oqp=&for=&mat=LCM%252CLCC%252CETAB%252CSERV%252CDFON%252CMARI%252CDISC%252CFISC%252Cor&lgrec=en&jge=&td=%3BALL&jur=C%2CT%2CF&dates=%2524type%253Dpro%2524mode%253DfromTo%2524from%253D2022.03.01%2524to%253D2022.04.01&pcs=Oor&lg=&pro=&nat=or&cit=none%252CC%252CCJ%252CR%252C2008E%252C%252C%252C%252C%252C%252C%252C%252C%252C%252Ctrue%252Cfalse%252Cfalse&language=en&avg=&cid=318008