Italy: Deadline for extension of certificate of residence - reminder

23.10.2020

Further to Announcement C20015, Clearstream Banking1 reminds customers that the extension of the deadline for the renewal of certificates of residence (CORs) will expire on

30 October 2020

Background

In July 2020, the Italian Tax Authorities (ITA) extended for the second time the validity of the CORs provided in 2019, initially valid until 31 March 2020, until 30 October 2020.

As no further extension was granted by the ITA, the certificates of residence extended will be considered as expired on 30 October 2020.

Impact on customers

Customers expecting to receive Italian dividend payments from 1 November and until the end of 2020 must ensure that they have or will renew their COR at the latest before the first dividend payment for the benefit of relief at source or by the usual quick refund deadline if the relief at source deadline could not be met.

Failure to provide a new COR to cover the dividend payments as of 1 November 2020 will result in the application of the default withholding tax rate.

Further information

For further information, please contact the Clearstream Banking Tax Help Desk or 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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.