The Court of Justice of the European Union has ruled that Spain's imposing withholding tax on dividends paid to nonresidents in a loss-making position, while refunding domestic withholdings to resident entities in equivalent circumstances, is contrary to the free movement of capital.Based on the decision, nonresident investors that have paid Spanish withholding tax will want to assess whether to file reclaims as well as review their positions to consider pursuing additional opportunities.  Executive summaryOn 19 December 2024, the Court of Justice of the European Union (CJEU) issued their ruling in case involving a withholding tax refund request filed by a...