Quick refund – Estonian equities
Eligible beneficial owners
The following beneficial owners are eligible to obtain a quick refund from withholding tax on dividend payments on Estonian equities:
Equities | |
Beneficial owner | Tax Rate |
Non-resident legal entity | 0% |
Non-resident individual of a DTT country | DTT |
Estonian resident legal entity (until the recipient makes a distribution of profits) | 0% |
Documentation requirements
For the purpose of obtaining quick refund on behalf of eligible beneficial owners, customers must submit to LuxCSD, before the relevant deadlines, the following documentation:
- One-Time Certificate for Estonian Equities; and
- Breakdown of Holdings (requesting the quick refund); and
- Certificate of residence (only required for DTT individuals); and
- Declaration of Beneficial ownership (only required for DTT individuals):
- Power of attorney (if applicable)
And upon request
- Certificate of residence
- Other supporting documentation
To comply with the requirements of the Estonian Tax Law, LuxCSD may be required to disclose our or/and the beneficial owners identity and holdings for any dividend event. Customers therefore undertake to provide LuxCSD, promptly upon request at any time, with such information as may be necessary to substantiate the accuracy of the customers instruction for a reduced tax rate.
Customers shall hold LuxCSD harmless for any loss, cost, expense, liability or damage that LuxCSD could face in case of any tax adjustment LuxCSD would need to perform on their account, no matter when this adjustment would take place.
Deadline
In order to benefit from quick refund on Estonian equities, customers must ensure that the accurate documentation is submitted by the following deadlines:
Documentation | Deadline |
One-Time Certificate for Estonian Equities | at the latest 9 months after the PD for which QR is required |
Breakdown of holdings | at the latest 9 months after the PD for which QR is required |
Certificate of tax residence | at the latest 9 months after the PD for which QR is required |
Declaration of Beneficial Ownership | at the latest 9 months after the PD for which QR is required |
Power of attorney | at the latest 9 months after the PD for which QR is required |
Certificate of tax residence | Upon request |
Other supporting documentation | Upon request |
When are refunds received
The estimated time for receiving a refund is up to 30 calendar days from the date on which LuxCSD receives the certified documents for quick refund, although this can vary depending on the issuer and when the application is filed.