Czech Republic: Renewal of Certificates of Tax Residence - Reminder
Customers of Clearstream Banking1 are reminded that in order to benefit from relief at source on Czech Republic cash dividend and interest payments received in 2017, the Certificate of Tax Residence (COTR) must be renewed by all non-Czech resident beneficial owners (except international/supranational organisations).
Renewal process for customers
COTRs issued for the year 2016 will expire on 31 December 2016. These COTRs will still be valid to submit tax reclaims related to payments made in 2016.
To benefit from relief at source on dividend and interest payments received in 2017, customers will have to provide Clearstream Banking, in addition to the other requested documentation, with a COTR issued for the year 2017.
Form requirements of the Certificate of Tax Residence
A COTR will only be validated by the Czech Tax Authorities or issuer provided that the following conditions are met:
- The original version of the COTR is provided; or
- A notarised and apostilled copy of the COTR is provided.
The notarised and apostilled copy will be mandatory if the COTR was issued and stamped electronically by the beneficial owner’s local tax authority, or when a copy of the COTR is provided.
In addition, customers are reminded that:
- The COTR should be issued in either English or Czech by the beneficial owner’s local tax authority;
- The COTR should cover the record date of the event for which it is to be used;
- The COTR remains valid for one calendar year; and
- The name mentioned on the COTR should match with the name specified in both the list of beneficial owners and the Declaration of Beneficial ownership.
Deadlines for receipt of documents
In order to benefit from relief at source, eligible beneficial owners should provide the required certificate at the latest, nine business days before the payment date by 10:00 CET. Passed this deadlines, the customer’s entire application for relief at source will be rejected, with the possibility to be processed via the quick refund.
The full tax process, including the documentation requirement are described on our Market Taxation Guide - Czech Republic page.
For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for CBF customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.