Beneficial owners eligible for tax exemption - Belgian debt securities (securities held in BNP Paribas S.A.)

31.05.2022

The following types of beneficial owner of Belgian debt securities are recognised for tax purposes in Italy:

  • Residents of Double Taxation Treaty (DTT) countries;
  • Supranational and international organisations.

Residents of Double Taxation Treaty (DTT) countries

A standard refund of withholding tax is available through Clearstream Banking.

The customer can reclaim withholding tax on behalf of the beneficial owner through Clearstream Banking by submitting the appropriate documentation.

The maximum rate of withholding tax is defined in the relevant DTT.

Supranational and international organisations

A standard refund of the full amount of withholding tax is available through Clearstream Banking if the securities were effectively held by the eligible beneficial owners for a full interest year.

If the securities were owned by the eligible beneficial owner between two coupon payment dates, a standard total refund is available for the period in which the securities were effectively held.

The customer can reclaim withholding tax on behalf of the beneficial owner through Clearstream Banking by submitting the appropriate documentation.