Slovak Republic: Dividend withholding tax on Slovak equities - Update
Clearstream Banking1 informs customers that further to Announcement A18002 concerning the introduction of withholding tax on Slovak dividend payments, certain issuers have now announced that if disclosure, with supporting documentation, of the final beneficial owner is not provided, when requested by the issuer, the dividend payment realisation will be postponed until the fulfilment of the disclosure requirements.
Impact on customers
On the Slovak market, the issuers are the withholding agents of the tax applied to Slovak dividends. No common procedure has been published by the issuers and each issuer apply its own guidelines.
Customers, are consequently requested to refer to the tax notification sent by Clearstream Banking per event (SWIFT, Xact Web Portal or CreationOnline message) in order to obtain the applicable procedure for receiving the dividend payment and applying the relief at source, when applicable.
Customers are furthermore informed that Clearstream Banking will not take any responsibility in respect of any losses, claims, penalties, taxes and interest thereon due to no action taken by the customer regarding the above matter or due to receipt of document after the applicable deadline.
Further information
For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to 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, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.