Relief at source - Estonian investment funds (CBL)
Eligible beneficial owners
The following beneficial owners are eligible to obtain relief at source from withholding tax on dividend payments on Estonian investment funds:
Investment funds | |
Beneficial owner | Tax Rate |
Non-resident legal entity | 0% |
Estonian resident legal entity (until the recipient makes a distribution of profits) | 0% |
Documentation requirements
For the purpose of obtaining relief or exemption at source on behalf of eligible beneficial owners, clients must submit to Clearstream, before the relevant deadlines, the following documentation:
- One-Time Certificate for Estonian Equities or Investment Funds; and
- Breakdown of Holdings (if applicable)
And upon request
- Certificate of residence
- Other supporting documentation
To comply with the requirements of the Estonian Tax Law, Clearstream may be required to disclose our or/and the beneficial owners identity and holdings for any dividend event. Clients therefore undertake to provide Clearstream, promptly upon request at any time, with such information as may be necessary to substantiate the accuracy of the client’s instruction for a reduced tax rate.
Clients shall hold Clearstream harmless for any loss, cost, expense, liability or damage that Clearstream could face in case of any tax adjustment Clearstream would need to perform on their account, no matter when this adjustment would take place.
Deadline
In order to benefit from tax relief at source on Estonian investment funds, clients must ensure that the accurate documentation is submitted by the following deadlines:
Documentation | Deadline |
One-Time Certificate for Estonian Equities or Investment Funds |
|
Breakdown of holdings |
|
Certificate of tax residence | Upon request |
Other supporting documentation | Upon request |