Finland: OECD TRACE model - FTA publishes decision on the Investor Self-Declaration

25.09.2020

Clearstream Banking1 would like to inform customers that further to the Finnish government’s decision to implement a new tax relief at source procedure in accordance with the Organisation for Economic Co-operation and Development (OECD) Treaty Relief and Compliance Enhancement (TRACE) model from 1 January 2021, the Finnish Tax Administration (FTA) has published the decision on the Investor Self-Declaration (ISD), which provides details on the required content, period of validity and procedure of how the reliability is verified.

Impact on customers

The related final guidance on the ISD forms is expected to be published by the FTA within the coming weeks.

Customers may view the FTA’s decision and further published information regarding the upcoming legislative changes for nominee-registered shares on the FTA’s website.

Further information

Clearstream Banking continues 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.