Denmark: Trinidad and Tobago added to tax haven countries


Further to Announcement A21075, concerning the Danish Government’s approved proposal to increase the dividend withholding tax rate to 44% for certain recipients that are registered or tax residents in a tax heaven country, Clearstream Banking1 informs customers that effective 

1 January 2022

Trinidad and Tobago will be added to the list of tax heaven countries and for which a holding restriction is applicable in Clearstream Banking.

This is following the termination of the tax treaty between Denmark and Trinidad and Tobago, which was terminated by Denmark on 8 June 2021 and will take effect for withholding and other taxes from 1 January 2022.

Tax haven countries

The countries that are currently considered as tax haven countries in Denmark are the following:

  • American Samoa
  • Anguilla
  • The US Virgin Islands
  • Dominica
  • Fiji
  • Guam
  • Palau
  • Panama
  • Samoa
  • Seychelles
  • Trinidad and Tobago (effective 1 January 2022)
  • Vanuatu

Impact on customers

Customers are reminded that they may not hold Danish equities or Danish investment funds through Clearstream Banking, in either of the following circumstances:

  • The final beneficial owner is registered or tax resident in one of the above stated tax heaven countries; or
  • The customer or any other intermediary in the custody chain is registered or tax resident in one of the below stated tax heaven countries.

Note: It is the customer responsibility to put in place all necessary arrangements with respect to investment restrictions and the customer shall be liable for non-compliance.

Please refer to the Holding Restrictions section of the Market Profile – Denmark for further details.

Further information

All forms can be found on the Clearstream website under Tax Forms to use - Poland.

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.