Beneficial owners eligible for tax exemption - Belgian debt securities

30.09.2014

The following types of beneficial owner of Belgian debt securities are recognised for tax purposes in Italy:

  • Residents of Double Taxation Treaty (DTT) countries;
  • Supranational and international organisations.

Residents of Double Taxation Treaty (DTT) countries

Relief at source from withholding tax on interest from Belgian debt securities is not available through Clearstream Banking.

A quick refund of withholding tax is available to beneficial owners that qualify for the benefit of a reduced rate of withholding tax in accordance with a Double Taxation Treaty (DTT) between their country of residence and Belgium.

A standard refund of withholding tax is available through Clearstream Banking if the required certification was not provided before the quick refund deadline.

The customer can reclaim withholding tax on behalf of the beneficial owner through Clearstream Banking by submitting the appropriate documentation.

The maximum rate of withholding tax is defined in the relevant DTT.

Supranational and international organisations

Relief at source from withholding tax on interest from Belgian debt securities is not available through Clearstream Banking.

A quick refund of the full amount of withholding tax on income from Belgian debt securities is available through Clearstream Banking if the securities were effectively held by the eligible beneficial owner for a full interest year.

A standard refund of the full amount of withholding tax is available through Clearstream Banking if the required certification was not provided before the quick refund deadline and if the securities were effectively held by the eligible beneficial owners for a full interest year.

If the securities were owned by the eligible beneficial owner between two coupon payment dates, a standard total refund is available for the period in which the securities were effectively held.

The customer can reclaim withholding tax on behalf of the beneficial owner through Clearstream Banking by submitting the appropriate documentation.