Relief at source - eligibility, documentation, deadlines - Italian equities

28.04.2022

Who can obtain relief at source?

Relief at source from withholding tax on dividends from Italian equities is available through Clearstream Banking for beneficial owners as follows:

Eligible beneficial ownersRate applicable at source

Residents of a Double Taxation Treaty (DTT) country

Tax treaty rate or 26%,
whichever is lower

EU/EEA corporations

1.20% a

EU/EEA pension funds

11%

EU/EEA investment vehicles (CIV)

0%

Supranational organisations recognised as such by Italian law

0%

a. 1.375% until 31 December 2016, 1.20% as of 1 January 2017.

Documentation requirements

The documentation requirements are the same for all types of beneficial owner.

  • One-Time Certificate for Italian Equities;
  • One-Time Master Instruction/Dividends at Source (O.T.M.I.);
  • Certificate of Residence (except for Supranational organisations);
  • Italian Equities: List of Beneficial Owners.
  • Self-certification (for EU/EEA collective investment vehicles)
  • Copies of documentation evidencing the identity of the representative or management company

Form descriptions are presented according to the procedures available for relief and/or reclaim of withholding tax on income from Italian equities.

Deadlines for receipt of documents

Documentation for relief at source from withholding tax on dividends from Italian equities must be received by Clearstream Banking by the following deadlines:

DocumentDeadline for receipt by Clearstream Banking

One-Time Certificate for Italian Equities

The ex-date of the first dividend payment by 10:00 CET.

One-Time Master Instruction/Dividends at Source (O.T.M.I.)

The ex-date of the first dividend payment by 10:00 CET.

Certificate of Residence

The ex-date of the first applicable dividend payment by 10:00 CET.

Italian Equities: List of Beneficial Owners

The ex-date of each dividend payment by 10:00 CET.

Self-certification for EU/EEA collective investment vehicles

The ex-date of the first dividend payment by 10:00 CET.

Copies of documentation evidencing the identity of the representative or management company

The ex-date of the first dividend payment by 10:00 CET.