Finland: FTA publishes guidance on 50% withholding tax on dividend distributions
Further to our Announcement A19042, Clearstream Banking1 would like to inform customers that the Finnish Tax Authority (FTA) has published guidance about the application of 50% withholding tax on Finnish dividend distributions.
Impact on customers
Customers are reminded that the implementation of the preliminary withholding tax of 50%, applicable for non-identified beneficial owners that are tax resident in Finland, has become effective 1 January 2020.
However, this will not have any impact on Clearstream Banking customers as Finnish securities beneficially owned by Finnish tax residents cannot be held at Clearstream Banking.
We continue to monitor the Finnish market and will provide more information as it becomes available.
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 Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.