Greece: Decrease of dividend withholding tax rate - update

24.02.2020

Further to our Announcement A19151, concerning the decrease the withholding tax on dividend distributions from Greek equities from 10% to 5%, Clearstream Banking1 informs customers that the Independent Authority for Public Revenues has issued Circular E.2012/30.1 2020, providing clarifications on the reduction of withholding tax, in accordance with the provisions of article 24 of Law 4646/2019.

The Circular clarifies, that interim dividends paid in 2019 that were taxed with 10% withholding tax, are eligible for the new reduced rate of 5%.

Impact on customers

The applicable process to be followed in order to be reimbursed the 5% withholding tax is still to be clarified by the issuers.

We continue to monitor the Greek market for new developments and will provide more information as it becomes available.

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.