Norway: New credit advice requirements for reclaims of withholding tax
Effective
immediately
The Norwegian Central Office - Foreign Tax Affairs has announced that credit advices attached to reclaim applications must specify that the dividend payment has been subject to withholding tax, not just tax.
In addition, the full chain of credit advices will be required as proof of payment from Clearstream Banking1 to the final beneficial owner. This means that, if the beneficial owner is the customer’s client, the credit advice from the customer to the beneficial owner must be provided in addition to the Clearstream Banking credit advice.
The credit advice will be required to contain the following dividend payment details:
- Name of the payment recipient (that is, the claimant);
- Name and ISIN of the stock etc.;
- The exact amount of shares;
- The gross amount and withholding tax in NOK;
- The ex-date, the record date and the payment date;
- The dividend per share.
Impact on customers
For all tax reclaims, customers are requested to submit, per reclaim application and together with other required refund documentation, the full chain of credit advices in the requested format.
N.B.: The Norwegian Tax Authorities may, in all cases, require the beneficial owner to submit additional supporting information to establish eligibility for a refund.
Further information
For further information, customers may contact the Clearstream Banking Tax Help Desk on:
| Luxembourg | Frankfurt | |
| Email: | tax@clearstream.com | tax@clearstream.com |
| Telephone: | +352-243-32835 | +49-(0) 69-2 11-1 3821 |
| Fax: | +352-243-632835 | +49-(0) 69-2 11-61 3821 |
or Clearstream Banking Customer Service or their Relationship Officer.
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1. Clearstream Banking refers to Clearstream Banking S.A., 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).
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