The Italian Court of Cassation held that the withholding tax rate difference between qualifying European Union (EU) or European Economic Area (EEA) and non-EU/EEA pension funds violated the principle of free movement of capital under Article 63 of the Treaty on the Functioning of the European Union (TFEU).Based on the decision, foreign pension funds not qualifying as EU or EEA are eligible for the same tax treatment as EU or EEA funds.Impacted nonresident pension funds should consider the appropriate steps for filing for refund of the additional tax withheld or asserting claims already filed at the court level.Executive summaryBy judgment...