Czech Republic: Update on validity of tax documents

19.02.2020

Clearstream Banking1 informs customers that our depository in the Czech Republic has informed us of an update concerning the tax documentation that will apply to all income payments and not only in situations where the Czech National Bank (CNB) acts exclusively as a paying agent.

This update is effective as from

1 January 2020

and concerns the following documents:

Certificate of Residence

An original Certificate of Residence must be issued in Czech or English by the beneficial owner’s local tax authorities.

Where a certificate is not an original, a certified copy, with a wet ink signature and/or stamp must be provided. In the event that the document does not have a wet ink signature and/or stamp, it must be certified by a notary, confirming that it is an original document, or a true copy of the original issued by the tax authority of the country in question, and must be apostilled.

The document is valid for one (1) calendar year and should cover the record date of the income payment for which it is to be used.

The name mentioned on the Certificate of Residence should match the name specified in both the list of beneficial owners and the Declaration of Beneficial Ownership.

Declaration of Beneficial Ownership

The document must be provided once before the first income payment and is valid for three (3) calendar years following the year in which the document was issued (that is, a Declaration of Beneficial Ownership issued in March 2019 will be valid until 31 December 2022).

The other requirements remain unchanged and are available in our Market Taxation Guide – Czech Republic.

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 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.