Finland: Tax Assessment Form request for treatment of Sievi Capital Oyj cash and stock dividend paid in Apetit Oyj and Efore Oyj shares

31.01.2017

Clearstream Banking1 would like to inform customers that, effective

immediately

customers are obliged, by the Finnish Tax Authorities (FTA), to file a Tax Assessment form concerning any outstanding tax amount over EUR 17.00 that they may have concerning the Sievi Capital Oyj stock (ISIN FI0009008924) dividend paid on 20 December 2016 in Apetit Oyj shares (ISIN FI0009003503) and Efore Oyj FI0009900054) shares, for which both the value of the new shares and the possible fractions (paid in cash) were subject to withholding tax.

As a result, customers are requested to provide Clearstream Banking with the requested documentation by no later than 10:00 CET on 1 April 2017. Once the due tax amount, if any, is confirmed by the FTA, Clearstream Banking will inform the customer and perform the required tax deductions on their Clearstream Banking account.

Background

For the above-mentioned dividend payment, tax was deducted at source from the fractions only. If the amount of the fractions did not cover the total EUR value of withholding tax, this dividend will leave an open tax liability for beneficial owners towards the FTA.

To cover this tax liability, the FTA have determined that all beneficial owners who have an outstanding tax amount, including those who are liable for the 30% non-treaty tax rate, are obliged to file a Tax Assessment form that the tax authorities can use to calculate the remaining tax amount due, if any.

The tax amount due will be calculated as follows:

  • Amount of Sievi shares * value of dividend (Apetit share = EUR 0,1437001) * tax %; or
  • Amount of Sievi shares * value of dividend (Efore share = EUR 0.0999446) * tax %.

Note: Tax Assessment forms are not required for tax amounts less than EUR 17.00.

How to file the Tax Assessment form

The required form to be provided is either of the forms attached below:

  • Assessment concerning Sievi Capital Oyj Dividend Income (Corporate entities); or
  • Assessment concerning Sievi Capital Oyj Dividend Income (Individuals).

In both cases, the form must be signed and completed by the final beneficial owner unless a power of attorney is attached to the form. Corporate entities are recommended to enclose, in addition, an extract from the trade register.

Note: Samples of both of these forms are included at the end of this announcement.

In addition, customers should attach a cover page to the form with their Clearstream Banking account number, the number of shares instructed and the applicable tax rate.

Deadline: Please provide Clearstream Banking with the requested documentation by no later than 10:00 CET on 1 April 2017 to the below address:

Clearstream Operations Prague s.r.o.
Attn: PTR - Tax Services
Futurama Business Park Building B
Sokolovska 662/136b
CZ-18600 Prague 8
Czech Republic

Upon receipt of the documents, Clearstream Banking will collect and forward them to the FTA for their review. Once the due tax amount, if any, is confirmed by the FTA, Clearstream Banking will inform the customer and perform the required tax deductions on their account.

Note: Customers are reminded that beneficial owners are obliged to return the forms. Neglect of this obligation may lead to penalties applied by the FTA.

Further information

For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your Relationship Officer.

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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.