In case C-828/24, the Court of Justice of the European Union confirms that the withholding tax exemption on cross-border interest and royalties under the Interest and Royalties Directive must be assessed on a substantive rather than procedural basis. Accordingly, the source Member State may grant the exemption also for periods preceding the submission of the required certificate and supporting documentation.
The issue is further analysed in a case law note published in La Circolare Tributaria no. 13/2026 Euroconference.
