Relief at source – Norwegian equities

Dividend payments distributed from Norwegian equities are subject to 25% withholding tax by default in Clearstream.

Eligible beneficial owners

The following beneficial owners are eligible to obtain relief at source from withholding tax on dividend payments on Norwegian equities:

Equities
Beneficial owner	Tax rate
Non-resident of a DTT country	DTT
Non-resident EEA entities qualifying for the tax-exemption method – Note a	0%
International organisations and foreign governments	0%

Documentation requirements

For the purpose of obtaining relief or exemption at source on behalf of eligible beneficial owners, clients must submit to Clearstream, before the relevant deadlines, the following documentation:

Documents	Individuals resident in a DTT country	Legal entities resident in a DTT country – claiming reduced tax rate under the DTT	Legal entities resident in a DTT country – claiming full tax exemption under the DTT	Foreign EEA entities qualifying for the Tax Exemption Model	Luxembourg SICAVs organised as UCITS qualifying for the Tax Exemption Model	International organisations and foreign governments qualifying for tax exemption
One-Time Certificate for Norwegian Equities	X	X	X	X	X	X
Per-payment instruction	X	X	X	X	X	X
Certificate of Residence (COR)^d	X	X	X	X	X
Beneficial owner certificate	X	X	X	X	X	X
Approval letter from the Norwegian Tax Authorities (NTA)		X	X	X	^a	X
Declaration of unchanged tax status from entities claiming tax exemption			X^b	X		X
Declaration of unchanged tax status from Luxembourgish SICAV organised as UCITS claiming tax exemption					X
Attestation						X
Power of Attorney^c	X	X	X	X	X	X

a. Luxembourgish SICAVs organised as UCITS funds are already pre-approved as tax exempt by the NTA and are therefore not required to provide Clearstream Banking with an approval letter issued by the NTA when claiming tax exemption under the Norwegian Tax Exemption Model. All other documentation is however still required. This exception does however not apply to Luxembourgish SICAVs that are not organised as UCITS funds. These SICAVs are still required to provide the NTA approval letter to Clearstream Banking.

b. Required for legal entities claiming full tax exemption under a DTT, for example eligible Dutch pension funds and UK pension schemes.

c. Only required if the client or a third party is completing a form on behalf of the beneficial owner.

d. a copy of a UCITS attestation issued by an EEA country - for example an attestation, issued by the French "Asset Management Directorate" (AMF) is sufficient documentation of residence and can be used instead of a certificate of residence.

Deadline

The deadlines for the submission of the documentation to obtain relief at source of withholding tax on dividends on Norwegian equities are as follows:

Document	Deadline for receipt by Clearstream
Approval letter from the Norwegian Tax Authorities	Four business days prior to the record date of the first dividend payment by 10:00 CET
Attestation	Four business days prior to the record date of the first dividend payment by 10:00 CET
Beneficial owner certificate	Four business days prior to the record date of the first dividend payment by 10:00 CET
Certificate of Residence	Four business days prior to the record date of the first dividend payment by 10:00 CET.
Declaration of unchanged tax status for entities claiming tax exemption	Four business days prior to the record date of the first dividend payment by 10:00 CET.
Declaration of unchanged tax status for Luxembourg SICAV organised as UCITs claiming tax exemption	Four business days prior to the record date of the first dividend payment by 10:00 CET.
Per-payment instruction	One business day after the record date of each dividend payment by 10:00 CET
One-Time Certificate for Norwegian Equities	Four business days prior to the record date of the first dividend payment by 10:00 CET.
Power of Attorney	Four business days prior to the record date of the first dividend payment by 10:00 CET.