Form descriptions - Relief at source - Portuguese debt securities - securities held in CBF

29.04.2022

Information is provided here about the forms and their use in relation to the procedure for relief at source of withholding tax on income from Portuguese bonds 83/2013, as follows:

Master Instruction Portuguese Debt Securities – DL 193/2005 Of November 7

One-time declaration per account or sub-account that provides certain statements regarding the beneficial owner(s) of the securities. The customer certifies, among other information, that the Portuguese debt securities held in the account specified and subject to the withholding tax regime are held exclusively for one single or several beneficial owners that are eligible for tax exemption or applying for reduced tax rates.

It is valid until revoked. If any change occur that render any of the details in the Master Instruction untrue, a new Master Instruction must be forwarded to Clearstream Banking and/or the existing one must be revoked.

How many are provided?

One per Clearstream Banking account.

Who completes it?

Customer.

How often is it provided?

Once. Valid until revoked.

When is it provided?

At the latest one business day before the respective payment date by 10:00 CET

Copy or original?

Original required.

Certificate of Residence (COR)

The COR or an equivalent document must be delivered, signed and stamped by the beneficial owner’s local tax authorities.

  • It must confirm the residency of the beneficial owner for tax purposes and cover the period when the withholding tax took place; and
  • confirm that the beneficial owner is subject to tax in its country of residence.

How many are provided?

One per beneficial owner

Who completes it?

Beneficial owner’s local tax authorities.

How often is it provided?

Every three years.

When is it provided?

At the latest one business day before the first payment date to which it applies by 10:00 CET

Copy or original?

Original.

Self-Declaration for Tax Exemption/Reduced rate on Portuguese bonds and Equities Beneficial Owner Not Resident in Portugal

One-Time declaration certifying that the non-resident entity is the effective beneficial owner of the dividend and is entitled to exemption.

How many are provided?

One per exempt entity

Who completes it?

Beneficial owner or its representative under cover of a POA.

How often is it provided?

Once, valid until revoked

When is it provided?

At the latest one business day before the first payment date to which it applies by 10:00 CET

Copy or original?

Original.

One-time declaration from the tax authorities or public body

One-time declaration issued by the tax authority or by the competent public body in beneficiary’s State of residence responsible for the regulatory supervision of its business attesting that it was validly created under the laws of its State of residence as well as its domicile.

It must be provided by Credit institutions, financial companies, pension funds, insurance companies and Collective Investment Vehicles (CIVs) domiciled in an OECD Member State or in a DTT country.

How many are provided?

One per beneficial owner

Who completes it?

Beneficial owner’s tax authority or competent public body

How often is it provided?

Once, valid until revoked

When is it provided?

At the latest one business day before the first payment date to which it applies by 10:00 CET

Copy or original?

Original.

Self-Declaration for Tax Exemption/Reduced rate on Portuguese Bonds and Equities Beneficial Owner Resident in Portugal.

One-Time declaration certifying that the resident entity is the effective beneficial owner of the dividend and is entitled to exemption or reduced tax rates (25% or 28%).   

How many are provided?

One per exempt entity

Who completes it?

Beneficial owner or its representative under cover of a POA.

How often is it provided?

Once, valid until revoked

When is it provided?

At the latest one business day before the first payment date to which it applies by 10:00 CET

Copy or original?

Original.