Quick refund – Estonian investment funds

15.07.2022

Eligible beneficial owners

The following beneficial owners are eligible to obtain a quick refund from withholding tax on dividend payments on Estonian investment funds:

Investment funds

Beneficial owner

Tax Rate

Non-resident legal entity

0%

Non-resident individual of a DTT country

DTT

Estonian resident legal entity (until the recipient makes a distribution of profits)

0%

Documentation requirements

For the purpose of obtaining quick refund on behalf of eligible beneficial owners, customers must submit to LuxCSD, before the relevant deadlines, the following documentation:

  • One-Time Certificate for Estonian Equities or Investment Funds; and
  • Breakdown of Holdings (requesting the quick refund); and
  • Certificate of residence (only required for DTT individuals); and
  • Declaration of Beneficial ownership (only required for DTT individuals):
  • Power of attorney (if applicable)

And upon request

  • Certificate of residence
  • Other supporting documentation

To comply with the requirements of the Estonian Tax Law, LuxCSD may be required to disclose our or/and the beneficial owners’ identity and holdings for any income event. Customers therefore undertake to provide LuxCSD, promptly upon request at any time, with such information as may be necessary to substantiate the accuracy of the customers instruction for a reduced tax rate.

Customers shall hold LuxCSD harmless for any loss, cost, expense, liability or damage that LuxCSD could face in case of any tax adjustment LuxCSD would need to perform on their account, no matter when this adjustment would take place.

Deadline

In order to benefit from quick refund on Estonian investment funds, customers must ensure that the accurate documentation is submitted by the following deadlines:

Documentation

Deadline

One-Time Certificate for Estonian Equities or Investment Funds

at the latest 9 months after the PD for which QR is required

Breakdown of holdings

at the latest 9 months after the PD for which QR is required

Certificate of tax residence

at the latest 9 months after the PD for which QR is required

Declaration of Beneficial Ownership

at the latest 9 months after the PD for which QR is required

Power of attorney

at the latest 9 months after the PD for which QR is required

Certificate of tax residence

Upon request

Other supporting documentation

Upon request

When are refunds received?

The estimated time for receiving a refund is up to 30 calendar days from the date on which LuxCSD receives the certified documents for quick refund, although this can vary depending on the issuer and when the application is filed.