What is the dividend withholding rate between Spain and Japan?

Under the Spain-Japan tax treaty, the withholding rate on dividends is 15% for portfolio investors (general rate). A reduced rate of 5% applies when the beneficial owner is a company holding a qualifying ownership stake (typically 10% or more of voting stock). Note that the reduced rate requires the recipient to file the appropriate treaty benefit claim form before payment. This 15% rate compares to a median of 15% across Spain's 40 active treaty partners, and 15% across Japan's 47 active partners.