Sweden: Refunds of withholding tax on dividends to be paid with interest - update
Further to our TaxFlash T15006, dated 3 February 2015, regarding interest deemed payable on refunds of withholding tax on dividends, the Swedish Tax Agency (STA) has now provided further clarification with regards to the documentation required for reclaiming the interest for refunds already paid.
Reclaim process
If the withholding tax has already been repaid, a formal request for payment of interest must be submitted to the STA, including the following information on each application:
- Safe safe-custody account number (that is the account number at Clearstream Banking’s1 custodian SEB: 01 001 604 997);
- Name of the Beneficial Owner;
- Name of the security;
- ISIN;
- Dividend rate;
- Pay date;
- Amount repaid;
- Power of Attorney (if reclaimed by a representative).
Please note that it is the beneficial owner’s own responsibility to reclaim interest amounts on withholding tax reclaims already repaid. Neither the STA nor Clearstream Banking will initiate such reclaims.
Impact on customers
Clearstream Banking does not assist with the reclaim of interest amounts, but beneficial owners that believe they are eligible for interest on refunds already paid can claim the interest by submitting the above documentation directly to the STA at the following address:
Skatteverket
Storföretagsregionen
Att: Raija Ilola Jåfs
Stockholmskontoret
116 81 Stockholm
Sweden
We continue to monitor the Swedish market and will provide more information as it becomes available.
Further Information
For further information, customers may contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or their Relationship Officer.
------------------------------------------
1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.