Finland: Tax at source card option introduced for tax reclaims

Clearstream Banking¹ informs its customers that the Finnish Tax Authorities (FTA) has recently clarified that a valid Tax at Source Card (TASC) issued by the FTA can be submitted for tax reclaim applications instead of a Certificate of Residence (COR), under the condition that the TASC:

• confirms the beneficiary’s eligibility for a reduced tax rate/ tax exemption on Finnish dividends; and
• states the same tax year mentioned on the tax reclaim application form(s);
• is submitted as a copy.

Impacts on customers

The current tax reclaim process and documentation requirements remains as today. Customers will however have the option, with immediate effect, to also submit a TASC instead of a COR, when applicable.

Customers are furthermore reminded that the FTA always has the right to request additional information, including a valid COR, in order to determine the eligibility of a beneficial owner for the requested tax reclaim. The FTA is reviewing the eligibility of the beneficial owners requesting tax reclaims on a case-by-case basis and consequently further documentation may be requested at any time.

Further information

For further information, please contact the Clearstream Banking¹ 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.