Denmark: Trinidad and Tobago added to tax haven countries
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.