France: Exemption from dividend withholding tax for foreign CIVs – Introduction of a simplified procedure
On 1 March 2017, the French Tax Authorities (FTA) published new guidelines on the withholding tax exemption available to certain foreign CIVs resulting in the introduction of a simplified procedure.
The FTA also made minor changes to the French and English versions of the RPPM (Revenus et profits du patrimoine mobilier) exemption forms.
Impact on customers
We are still analysing these guidelines with our local depository and with the FTA in order to establish the operational details of the simplified procedure to the eligible foreign CIVs.
Concerning the changes to the RPPM forms, there is no impact on the forms already provided by customers and accepted by Clearstream Banking.
Note: The web link to retrieve the RPPM (Form RPPM, Revenus et profits du patrimoine mobilier) under our Tax forms to use - France page directs you to the website of the FTA and to the most up-to-date forms.
We continue to monitor the situation and will keep you informed as soon as the implementation process is finalised.
Customers may contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or their 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 Clearstream Banking Frankfurt (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.