General information – types of securities, deadlines, other market specifics – Sweden
Types of securities eligible in Clearstream Banking
The eligible securities issued in Sweden are as follows:
- Government bonds;
- Corporate bonds;
- Mortgage bonds;
- Money market instruments (Treasury bills and Treasury notes);
- Equities;
- Exchange Traded Funds (ETFs);
- Warrants.
Withholding tax services
| Debt securities | Relief at | Quick | Standard |
Beneficial owner | |||
No withholding tax is deducted on interest from Swedish debt securities held in Clearstream Banking. | NA | NA | NA |
Equities | Relief at | Quick | Standard |
Beneficial owner | |||
Non-resident of a DTT country a | Yes | Yes | Yes |
Tax exempt entities: | |||
| Yes | Yes | Yes |
| Yes | Yes | Yes |
| Yes | Yes | Yes |
| No | Yes | Yes |
Swedish residents | No | No | No |
a. Residents of Switzerland cannot apply for relief at source or a reclaim using the quick refund or standard procedure via Clearstream Banking, but instead reclaim applications for residents of Switzerland must be filed, by the beneficial owner, directly with the competent tax authority. This is following an agreement between the Tax Authorities of Sweden and Switzerland dated 17 August 1993 that regulates treaty benefits and the reclaim process. Under this agreement, treaty benefits are only possible through tax reclaim.
In addition, UK tax resident individuals are not eligible to apply for relief at source or quick refund via Clearstream Banking. Such beneficial owners may however request a standard reclaim.
Applicable default withholding tax rates
The default rates of withholding tax applicable in Clearstream Banking on income paid on Swedish securities are as follows:
- 0% on interest from debt securities;
- 30 % on dividend from equities:
Holding restrictions
Please refer to the Holding restrictions section of the Clearstream Banking Market Profile - Sweden
Capital gains tax
There is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. Capital gains tax may however be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.
Stamp duty
There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not provide assistance in this regard. Please consult your tax advisor for further information.
Deadlines for relief at source, quick refund and standard refund
Relief at source
The deadlines for the submission of the documentation to obtain relief at source of withholding tax on dividends on Swedish equities are as follows:
Document | Deadline for receipt by Clearstream Banking |
One-Time Certificate for Swedish Equities | One business day after the record date of the first dividend payment. |
Per-payment instruction | One business day after the record date of each dividend payment. |
Certificate of exemption | One business day after the record date of the first dividend payment. |
Certificate stating that the fund is qualified under the UCITS IV directive (2009/65/EC) | One business day after the record date of the first dividend payment. |
Certificate stating that the fund is authorised to market and sell units of the fund in Sweden | One business day after the record date of the first dividend payment |
List of beneficial owners for whom relief at source has been requested | Upon request and within Clearstream Banking’s deadline. |
Certificate of tax residence and other supporting documentation | Upon request and within Clearstream Banking’s deadline. |
Quick refund applications
The deadline for reclaiming withholding tax using the quick refund procedure is no later than six weeks after the income payment date, by 10:00 CET as per below:
Document | Deadline for receipt by Clearstream Banking |
One-Time Certificate for Swedish Equities | Six weeks after the income payment date, by 10:00 CET. |
Per-payment instruction | Six weeks after the income payment date, by 10:00 CET. |
Certificate of exemption | Six weeks after the income payment date, by 10:00 CET. |
Certificate stating that the fund is qualified under the UCITS IV directive (2009/65/EC) | Six weeks after the income payment date, by 10:00 CET. |
Certificate stating that the fund is authorised to market and sell units of the fund in Sweden | Six weeks after the income payment date, by 10:00 CET. |
Confirmation that the beneficial owner is a legal entity as described in Annex I part A and that it is subject to taxation as described in Aannex I part B of EU Parent Subsidiary Directive 2011/96/EU | Six weeks after the income payment date, by 10:00 CET. |
Confirmation of beneficial ownership eligibility | Six weeks after the income payment date, by 10:00 CET. |
List of beneficial owners for whom relief at source has been requested | Upon request and within Clearstream Banking’s deadline. |
Certificate of tax residence and other supporting documentation | Entities within the meaning of EU Parent Subsidiary Directive 2011/96/EU: Six weeks after the income payment date, by 10:00 CET. Other beneficial owners: Upon request and within Clearstream Banking’s deadline. |
When are refunds received?
The estimated time for receiving a quick refund is one month from the date that Clearstream Banking receives the certified documents.
Standard refund
Statutory deadline for reclaiming withholding tax
The general statutory deadline for reclaiming withholding tax using the standard refund procedure is five years after the end of the calendar year in which the income was paid.
The exception is Austria, for which the deadline is two years after the end of the calendar year in which the income was paid.
Clearstream deadline for standard refund applications
The deadline by which Clearstream Banking must receive the documentation is at the latest two months before the statutory deadline.
All standard refund applications received after this deadline will be processed by Clearstream Banking on a “best efforts” basis. However, in such cases, Clearstream Banking will apply an extra charge and accepts no responsibility for forms that have not reached the Swedish Tax Authorities by the date considered being the statute of limitations deadline
When are refunds received?
The estimated time for receiving a refund from a standard refund application is two months from the date of receipt by the Swedish Tax Authorities, although this can vary depending on when the application is filed and the complexity of the information supplied in the reclaim form.
Notes on tax reclaims
Clients warrant the completeness and accuracy of the information they supply to Clearstream Banking.
It is the client's responsibility to determine any entitlement to a refund of tax withheld, to complete the forms required correctly and to calculate the amount due.
Clearstream Banking is under no obligation to carry out any investigation in respect of such information.
Clearstream Banking accepts no responsibility for the acceptance or non-acceptance by the tax authorities of the refund applications nor for the reimbursement of taxes paid.