Italy: San Marino added to the White List

Effective

9 January 2015

beneficial owners that are residents of San Marino are now eligible, among others, to apply for tax exemption on interest and other proceeds on Italian bonds.

Background

On 29 December 2014, the Italian Ministry of Finance issued a decree adding San Marino to the White List of countries that allow an adequate exchange of information with the Italian Tax Authorities. The decree became effective based on its publication in the Official Gazette, number 6, dated 9 January 2015.

All White List countries can be found on the Italian Tax Authorities website.

Further information:

For further information, customers may contact the Clearstream Banking¹ Tax Help Desk or Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to 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, and 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.