Sweden: Relief at source and quick refund available on dividend withholding tax for investment funds - update

Further to our Announcement A12061, dated 23 March 2012, we would like to inform customers that we have obtained further clarification with regard to the certificate required for “Funds established in accordance with the UCITS directive (2009/65/EC)”.

To obtain relief at source or quick refund, customers should provide, on behalf of such funds, a certificate issued by the local authority, similar to the Swedish Financial Supervisory Authority, stating that the fund is so established.

The certificate is not issued by the “local tax authority”, as previously mentioned.

The other documentation requirements remain, meaning that, to obtain relief at source or apply for a quick refund on behalf of such funds, customers should provide, in addition to the above-mentioned certificate:

• A One-Time Certificate for Swedish Equities (as attached below), submitted before the first applicable interest payment date; and
  
• A List of Beneficial Owners to be received one business day after the record date of each dividend payment.

Further information

We continue to monitor the situation for any new developments and will provide more information as it becomes available.

For further information, please contact the Clearstream Banking¹ Tax Help Desk on:

or Clearstream Banking Customer Service or your Relationship Officer.

1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).