Cyprus: Increase of Special Contribution to Defence Tax (SCDT)
On
29 April 2013
the Cypriot government published amended legislation that includes, among other things, an increase, with immediate effect, of the SCDT rate on interest income from Cypriot securities from 15% to 30%.
Impact on customers
Customers are reminded that SCDT on Cypriot securities held in Clearstream Banking1 is levied by the issuer on every interest payment.
The SCDT is not a withholding tax and there is no relief at source or standard refund available through Clearstream Banking.
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).
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