Executive summary
The Spanish Supreme Court (Tribunal Supremo) issued a favorable decision confirming the right of a Canadian pension fund to obtain a refund of the Spanish withholding tax borne. The decision, dated 22 December 2020, was recently published.1
The Canadian pension fund filed a reclaim to obtain a refund of the difference between the dividend withholding tax (DWHT) borne and the exemption applicable to Spanish pension funds, insofar as it implies discriminatory tax treatmen…