Market Taxation Guide – Japan

This Market Taxation Guide (Japan) provides the following details:

Reference information about all taxes applied at source to securities that are held at the Japanese Central Securities Depository (JASDEC) and deposited by the client in Clearstream Fund Centre¹(the Vestima fund securities) ;
Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Fund Centre.

New and improved tax information and procedures that become available will be included on an ongoing basis.

Important note:

This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered legal advice on any subject matter. Readers of this Market Taxation Guide, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.

Withholding tax

	Holding restriction	Withholding tax rate	Relief at source	Quick refund	Standard refund
Japanese listed ETFs and REITs
	No	15.315%
Residents of Double Taxation Treaty (DTT) countries			Yes	N/A	Yes
Tax-exempt beneficial owners			Yes	N/A	Yes
Japanese unlisted ETFs and REITs
	No	20.42%
			N/A	N/A	N/A

Capital gains tax

There is no capital gains tax withheld through Clearstream Fund Centre on Vestima fund securities held in Clearstream Fund Centre. Capital gains tax may however be payable on specific gains. Clearstream Fund Centre does not assist in this regard. Please consult your tax advisor for further information.

Stamp Duty

There is no stamp duty withheld through Clearstream Fund Centre on Vestima fund securities held in Clearstream Fund Centre. Stamp duty may however be payable on specific transactions. Clearstream Fund Centre does not assist in this regard. Please consult your tax advisor for further information.

Notes on tax reclaims

Clients warrant the completeness and accuracy of the information they supply to Clearstream Fund Centre.

It is the client’s responsibility to determine any entitlement to a refund of tax withheld, to complete the forms required correctly and to calculate the amount due. Clearstream Fund Centre is under no obligation to carry out any investigation in respect of such information.

With respect to tax reclaims in general, clients are reminded that Clearstream Fund Centre accepts no responsibility for their acceptance or non-acceptance by the tax authorities of the respective country.

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1. Clearstream Fund Centre S.A.”. registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg and registered with the Luxembourg Trade and Companies Register under number B261.691

Market Taxation Guide – Japan - CFCL (Vestima)