Spain: Simplified reclaim procedures

Effective

immediately

the Tax Reclaim Form formerly required for quick and standard refund applications via Clearstream Banking¹ is replaced with a breakdown of refund applications in spreadsheet format.

Impact on customers

Within our ongoing efforts to simplify the tax procedures offered to our customers, we have negotiated and agreed with our Spanish depository to replace as much as possible paper-based certification with electronic instructions.

As a consequence, customers applying for quick or standard refund of withholding tax on income from Spanish securities processed via our Spanish depository must send, together with a Certificate of Residence or, when applicable, a Petición de Devolución and all other certification listed in our Market Taxation Guide – Spain, a breakdown of refund applications in spreadsheet format (attached to this Announcement).

The template provided is mandatory and all columns must be completed in order to be accepted. Each line must reflect one refund application. One breakdown cannot contain both quick and standard refund applications.

Customers must do one of the following:

• Send a CreationOnline or SWIFT free-format message containing the breakdown information exactly reflecting the content of the spreadsheet template; or
  
• Send a duly completed spreadsheet, password-protected, by email to taxspainrefunds@clearstream.com, with the password and the customer instruction to use the spreadsheet for quick or standard refund sent separately via CreationOnline or SWIFT free-format message.

The CreationOnline or SWIFT free-format message must, in either case, include the department in charge of Spanish refunds, as follows:

Attention: PTR Tax Services
Market: Spain
Type of refund: Quick or Standard

We must receive the information by the deadlines prescribed for each procedure in the Market Taxation Guide – Spain. Any information sent other than as described above or after the prescribed deadlines will be rejected by Clearstream Banking.

Further information

For further information, customers may contact the Clearstream Banking Tax Help Desk on:

or Clearstream Banking Customer Service or their Relationship Officer.

------------------------------------------
1. Clearstream Banking refers to Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).