Italy: Registration of Master Instructions in the Clearstream Banking Tax certification application

16.05.2017

Clearstream Banking1 informs customers that, effective

1 June 2017

all Master Instructions (MI) will be registered separately from self-certification.

Background

Self-certification and their related MI were registered together in our Tax certification application but only the self-certification was visible to our customers.

This process will be changed and the MI will be registered separately so that they will be visible too.

Impact on customers

All MIs received by Clearstream Banking after 1 June 2017 will be registered in our Tax certification application and will be allocated a specific reference number.

Therefore, when opening an account with Clearstream Banking, it is possible to only send the MI without the self-certification. However, you are reminded that the self-certification is a mandatory document to obtain a tax exemption.

Note: In the absence of an MI, any self-certification received will be automatically rejected.

Our standard fees for processing tax certificates are applicable.

For further details about the Italian certification process and validity of the documentation, please refer to our Market Taxation Guide - Italy.

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 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.