Argentina: Dividend withholding tax
Following our Announcement L13134 on 30 September 2013 about the approval by the Argentine government of the new tax reform, on 23 September 2013, the market is still waiting for the guidelines and procedures to implement these tax measures.
One of the tax reforms that must be implemented is the application of a 10% withholding tax on dividend distributions. This comes in addition to the 35% withholding tax on the dividend distribution’s portion that exceeds the taxable income.
Despite the current uncertainty, we have been informed that some issuers have decided to apply the 10% withholding tax at source on the upcoming dividend distributions.
As a consequence, Clearstream Banking1 is receiving these payments net and will pay its customers accordingly.
We continue to monitor the situation and will provide you with further information as soon as it becomes available to the market.
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 collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, 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).