Greece: Introduction of omnibus account at AthexCSD – Withholding tax impact - Update
Note: This announcement, originally published on 30 April 2021 and updated 19 July 2021, has been further updated to provide clarification on the withholding of tax calculations.
Further to our Announcement A21037, Clearstream Banking1 would like to inform customers of the withholding tax impact on income distributions derived from Greek equities and corporate bonds, which became effective on
12 April 2021
as a consequence of the migration of securities to the new omnibus account at AthexCSD.
Withholding tax rates
The following withholding tax rates apply:
Default withholding tax rate
Interest distributions from corporate bonds
The withholding tax rate will increase from 0% to 15%
Dividend distributions from equities
No change, the withholding tax rate will remain at 5%
Accrued interest calculations are applicable for withholding tax on interest distributions from corporate bonds.
Important note: The application of accrued interest on transactions that are taking place outside of the AthexCSD remains to be clarified by the market.
Relief at source and standard refund
Relief at source and reclaim of the 15% withholding tax on interest from corporate bonds and the 5% withholding tax on dividend from equities are not available via Clearstream Banking.
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.