Denmark: Trinidad and Tobago added to tax haven countries

22.12.2021

Further to Announcement A21075, concerning the Danish Government’s approved proposal to increase the dividend withholding tax rate to 44% for certain recipients that are registered or tax residents in a tax heaven country, Clearstream Banking1 informs customers that effective 

1 January 2022

Trinidad and Tobago will be added to the list of tax heaven countries and for which a holding restriction is applicable in Clearstream Banking.

This is following the termination of the tax treaty between Denmark and Trinidad and Tobago, which was terminated by Denmark on 8 June 2021 and will take effect for withholding and other taxes from 1 January 2022.

Tax haven countries

The countries that are currently considered as tax haven countries in Denmark are the following:

  • American Samoa
  • Anguilla
  • The US Virgin Islands
  • Dominica
  • Fiji
  • Guam
  • Palau
  • Panama
  • Samoa
  • Seychelles
  • Trinidad and Tobago (effective 1 January 2022)
  • Vanuatu

Impact on customers

Customers are reminded that they may not hold Danish equities or Danish investment funds through Clearstream Banking, in either of the following circumstances:

  • The final beneficial owner is registered or tax resident in one of the above stated tax heaven countries; or
  • The customer or any other intermediary in the custody chain is registered or tax resident in one of the below stated tax heaven countries.

Note: It is the customer responsibility to put in place all necessary arrangements with respect to investment restrictions and the customer shall be liable for non-compliance.

Please refer to the Holding Restrictions section of the Market Profile – Denmark for further details.

Further information

All forms can be found on the Clearstream website under Tax Forms to use - Poland.

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.