Form descriptions – Relief at source and quick refund – Finnish equities
The following is a list of information regarding the various tax forms to be completed in order to benefit from relief at source of withholding tax on dividends from Finnish dividends. The templates of the forms are available in our Tax forms to use section.
One-time certificate
The one-time certificate must be completed and signed by the LuxCSD client and remains valid until revoked.
Per-payment pooled tax breakdown
The per-payment pooled tax breakdown must be submitted by clients who:
- Have AI status; and
- Hold an omnibus accounts structure on behalf of beneficial owners that are tax residents in a different country.
The per-payment pooled tax breakdown must be provided per each country of tax residence and tax rate required (one instruction per tax rate required), via Swift formatted MT565 or Xact Web Portal message, and must include the following details:
- Client account number;
- ISIN code;
- Corp ID;
- Tax rate to apply: to be included in field :92A::TAXB// for Swift users, or tax rate field for Xact Web Portal users;
- Country of residence for tax purposes, to be specified as follows:
- Swift users: BENODET sequence in field :94C::DOMI// country of tax residence in ISO format, and in field :95V::OWND// country and “beneficial owners”, for example: “German beneficial owners; or
- Xact Web Portal users: in the beneficial owner details sequence under “benfplace”;
- Holding for which the reduced/exempt tax rate applies.
Important note: It is mandatory to send per-payment instructions in the format stated above. Per-payment instructions sent via the “BO Upload” or other format will be rejected.
Per-payment request for quick refund
The per-payment request for quick refund, must be provided per each country of tax residence and tax rate required, via Swift formatted MT568 or Xact Web Portal message and must include the following details:
- Request for quick refund
- Client account number;
- ISIN code;
- Corp ID;
- Tax rate to apply: to be included in field :92A::TAXB// for Swift users or tax rate field for Xact Web Portal users),
- Country of residence for tax purposes, to be specified as follows:
- Swift users: BENODET sequence in field 94C::DOMI//country of tax residence in ISO format, and in field :95V::OWND//country and “beneficial owners”, for example: “German beneficial owners; or
- Xact Web Portal users: in the beneficial owner details sequence under “benfplace”);
- Holding for which the reduced/exempt tax rate applies.
ISD-E form
The LuxCSD version of the ISD-E form (entities) must be provided by clients holding own assets. It must be completed and signed by the final beneficial owner, confirming its status and country of tax residence.
The ISD-E form must in addition be provided to LuxCSD in original and remains valid for either:
- Five years from the end of the calendar year in which it is signed and dated by the Investor; or
- Until further notice, if the Investor is a government or international organisation.