On 11 December 2017, the European Commission published non-binding guidelines setting out approaches for better functioning of withholding tax (WHT) regimes within the EU. These guidelines are relevant for both retail and institutional investors. Some of the key issues addressed include simpler refund measures for smaller investors, user friendly digital forms to apply WHT relief, an effective time frame for obtaining the relief, and creation of a single point of contact in member states’ tax administrations to deal with any questions from investors. It remains to be seen whether, and how quickly, member states adopt the measures. For further information, please contact Paul Hale.