Executive summary
The European Court of Justice (ECJ) has held that European Union (EU) Law is to be interpreted as prohibiting an EU Member State (in the instant case, Portugal) from imposing withholding tax (WHT) on dividends distributed by a resident company to a nonresident Undertaking for Collective Investment (UCI), to the extent that the legislation of that EU Member State provides a Corporate Income Tax (CIT) exemption, and thus WHT dismissal, on dividends distributed by the same companie…