Exceptional and temporary measures for tax certificates - update VI
Note: This Announcement, originally published on 24 March 2020 and updated on 31 March 2020, 7 April 2020, 22 April 2020, 5 May 2020, 12 February 2021 and 23 April 2021, has been further updated with additional information related to the following market: Finland. The changes have been highlighted.
Clearstream Banking1 informs customers that we have decided to exceptionally and temporarily adapt our service of treatment of tax documents.
Clearstream Banking will accept scanned copies of tax certificates via secure email providing that a dedicated SWIFT message is sent first. This procedure is applicable during this period of contingency only and related original documents will have to be provided once usual and operational working conditions return.
Please be informed that this procedure does not replace the usual process of providing original documents, therefore whenever possible it is recommended to continue sending original documents as Clearstream Banking’s mailing and tax certification registration services remain operational.
This procedure is currently applicable for the below markets and for relief at source and quick refund procedures only, and does not apply to the standard refund procedure:
- Australia: Debt securities and equities - relief at source only
- Belgium: Belgian bonds deposited with NBB
- Canada: Equities
- Finland: Equities - No longer applicable, original forms must be provided.
- France: Equities. Note: The Double Tax Treated rates can be granted based on scanned copies of the 2021 attestation on condition that the originals were provided by 31 March 2021 at the latest (Announcement C20068).
- Germany: Debt securities and equities, only for beneficiaries that are fund companies
- Italy: Debt securities and equities
- Japan: Eurobonds and US debt securities subject to Japanese tax
- New Zealand: Debt securities and equities - relief at source only
- Norway: Equities
- Portugal: Domestic debt securities - relief at source only.
Equities - Announcement A20055 is no longer applicable and original forms must be provided (Announcement C20066).
- South Africa: Equities – No longer applicable, original forms must be provided.
- Spain: Debt securities and equities
- Sweden: Equities
- UK: Eurobonds subject to ICMSA procedure
- U.S.A.: Debt securities and equities
For the other markets, we may ask you to follow the usual procedure and continue to provide original forms until further notice.
The secure email including the scanned documents must be sent using the appropriate email address according to the market impacted:
U.S.A. documents: email@example.com
Australia, New Zealand documents: firstname.lastname@example.org
Other documents: email@example.com
Please be informed that scanned copies sent to our Tax Helpdesk team at firstname.lastname@example.org will not be accepted.
Important note: The deadline to provide Clearstream Banking with executed originals is set at the date customers will return to usual and operational working conditions, this date must be immediately communicated by customers to Clearstream Banking (via SWIFT message) and no later than one week after that date. In any case, if any tax authority requests Clearstream Banking to provide it with any originals, the customer must provide it to Clearstream Banking at the latest by the deadline prescribed by Clearstream Banking (unless such original has already been provided to us by the customer). In the absence of executed originals received by Clearstream Banking by the above prescribed deadlines, the scanned copies previously validated will be rejected , the income events for which customers obtained reduced tax rates based on respective scanned copies will be considered as fully taxable and the applicable tax amounts will be debited from their account(s). In such situation, the customer accepts full responsibility and to indemnify Clearstream Banking for any loss, claim, expenses, cost, fine, penalty or whatsoever suffered by Clearstream Banking in relation thereto.
The above exceptional procedure is subject to evolving events depending the sanitary situation in each local jurisdiction.
Impact on customers
Customers must use the following templates for their SWIFT message and secure email.
Note: Only one SWIFT message and secure email will be accepted per market.
Clearstream Banking will reject the request if:
- the “Market” filed is missing on the Swift and/or email;
- there is any missing reference either on the Swift and/or email;
- the customer sends one email/Swift for multiple markets.
Attn: Tax Department
Subject: Scanned Certification
INSTITUTION NAME + COUNTRY: XXX + XXX
We confirm that Mr X and Ms Y are duly authorised to sign on behalf of the above mentioned institution name and country for the below mentioned certificate(s) dated dd/mm/yyyy and their specimens of signature as they appear on the document are true and genuine signatures
Due to the current exceptional situation related to Covid-19, we are not able to deliver to you original tax certificates as per Clearstream Banking ’s requirements.
Hence, as a temporary contingency measure, we kindly ask you to accept the scanned copies of the following certificates:
- CB Account – name of certificate – BO name (if applicable)
- CB Account – name of certificate – BO name (if applicable)
We confirm that the executed originals will be provided to you at the deadline set at the date we will return to usual and operational working conditions, this date we undertake to communicate to you promptly (SWIFT) and no later than one week after that date. In any case, if any tax authority requests Clearstream Banking to provide it with any originals, we confirm that we will provide it to Clearstream Banking at the latest by the deadline prescribed by Clearstream Banking (unless such original has already been provided to us). In the absence of executed originals provided to Clearstream Banking as per the prescribed deadlines, we agree that the scanned copies will be rejected subsequently as they do not fulfil Clearstream Banking’s formal requirements. The income events for which we obtained reduced tax rates based on above listed scanned copies will be considered as fully taxable and the applicable tax amounts will be debited from our account(s). Furthermore, we acknowledge and accept that Clearstream Banking cannot be held liable in that respect. We hereby accept full responsibility in the case of any loss, claim, damage, liability or whatsoever imposed or incurred by or asserted against Clearstream Banking by any relevant tax authority or any other authority in connection with any missing original requested by Clearstream Banking, any action taken by Clearstream Banking in reliance upon this SWIFT communication and the content of the related scanned certificate provided to Clearstream Banking and/or for any payments made subject to this scanned certificate and therefore we undertake to fully indemnify Clearstream Banking in respect of any such loss, claim, damage, liability or whatsoever.
Subject: TAX CERTIFICATES – Market – Account number – Unique reference number of the SWIFT message (field :20C:: for MT568 or field :20:: for MT599 messages)
Attachment: Scanned copies of tax certificates
Dear Tax Team,
As per the announcement C20011 please find in attachment the scanned copies of the tax certificates with the following details, for which we sent the acceptance request via the SWIFT message with the unique reference number _________:
Name of the document(s):
Contact details of Clearstream Banking customer:
IMPORTANT: Upon receipt of the customer’s email and SWIFT message, Clearstream Banking will inform customers of the validity of their request via MT568. The criteria of validation remain the same as for original forms, therefore the scanned copies must be fully completed, signed, dated and stamped.
When the original certificates will be provided to Clearstream Banking, customers must attach the message MT568 confirming the validation of the scanned copies, in order to allocate the correct reference numbers to the originals.
Please be informed that if the exact content of the SWIFT message and the email is not respected as in the templates provided above, your request will be rejected and the certification will not be treated. A new SWIFT message and email with the scanned documents will have to be submitted in order to benefit of this procedure.
Clearstream Banking internal tax documents
In addition to the applicable tax relief at source/quick refund process for the above list of markets, Clearstream Banking also offers you the possibility to send the scanned copies of Clearstream Banking internal tax documents. Please be informed that these internal documents do not allow you to benefit of a relief at source or quick refund procedure without providing the full set of documents required on the relevant markets. The list of internal documents is attached below. The procedure to provide scanned copies followed by originals remains the same as described above.
For further information, please contact the Clearstream Banking Tax Help Desk or Clearstream Banking Client Services or your Relationship Officer.
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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.