Netherlands ESES: Tax services

05.02.2018

Effective

9 April 2018

Clearstream Banking AG1 (CBF) will provide tax services for Clearstream Banking S.A.2, 3 (CBL) and CBF OneClearstream customers for Dutch T2S eligible ESES4 assets.

In addition to the standard refund process, CBF OneClearstream customers will now be able to benefit from reduced tax rate at source (RAS) or quick refund (QR) for certain categories of eligible beneficiaries. These services will considerably shorten the average refund time.

Important note: Due to shorter deadlines imposed by law, the availability of RAS and QR in the Netherlands depend on each issuer and on the paying agents. All customers will receive the service on a “best efforts” basis upon confirmation, at event level, depending on the paying agent.

RAS and QR payments will be processed once the funds have been received from the paying agent.

Background

CBL will deposit and settle Dutch T2S eligible ESES assets with CBF in order to enable future OneClearstream service upgrades. This forms part of our ongoing efforts to harmonise our services allowing customers to benefit from advantages across multiple areas of our business.

Further information

The details of the tax procedure to be followed are available in the Market Taxation Guide - Netherlands.

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 AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.

2. Clearstream Banking S.A. (CBL) registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.

3. Including Clearstream Banking AG customers with Clearstream Banking S.A. 6-series accounts.

4. ESES is Euroclear’s settlement platform for the Belgian, French and Dutch markets.