The Spanish Supreme Court (Tribunal Supremo), in two recently published Judgments (the Decisions), dated 24 February 2021 and 2 March 2021, has confirmed the right of a sovereign fund to obtain the refund of dividend withholding taxes (DWHT) imposed under the Nonresident Income Tax (NRIT) on its investments in Spain.
The Supreme Court has confirmed the decision of the lower courts, Spanish National High Court (Audiencia Nacional), in this regard.
The taxpayer in these cases was a non-European sove…