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By Eric CENTI, Tax Partner and Nenad ILIC, CFA, Tax Director, Deloitte Tax Consulting
The European Commission is currently working on an interesting initiative that, if adopted, could significantly simplify the withholding tax reclaim or relief at source procedures while reducing the risk of withholding tax fraud. The initiative aims to tackle a longstanding issue of excess withholding taxes on interest and dividends suffered by cross-border investors. While cross-border investors may be eligible for reduced withholding tax rates under double tax treaties, from a practical perspective such reduced rates are difficult to achieve due to overly complex procedures and lack of standardization at EU level.
What is the issue?...
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