April 2018 Withholding Tax Newsletter

This edition of Withholding Tax Update includes:

New ESP Bulk Upload for Japanese ADRs

Japan’s ADR dividend season has always been a daunting time, as more than 200 dividend events go record on the same day. To submit claims, users had to upload beneficial owner data, CUSIP by CUSIP, in a process that could take weeks to complete. Thankfully, that procedure is now a thing of the past!   Read more

April Ferrari Event: Dutch/Italian Tax Apply

The current Ferrari N.V. event (CUSIP: N3167Y103; record date April 24, 2018) will be subject to both Dutch (15%) and Italian (26%) withholding tax. On payable date, all holders will recieve the net dividend less the combined 41% withholding tax. Read more

¿Qué pasa en Chile?

GlobeTax is excited to announce the launch of a new recovery process in Chile, a boon for foreign investors
who face a steep withholding tax (up to 35%) on their Chilean dividends.Read more

Ireland Clarifies Payment & Doc. Requirements

Recent conversations with the Irish Revenue have provided clarification about two outstanding requirements. ESP
users should note these items when submitting future Irish claims. Read more

Denmark Increases Long Form Scrutiny

The Danish Tax Authority (DTA) has increased scrutiny over their tax recovery process, announcing new partnership
requirements and a long form claim questionnaire. The heightened process follows Denmark’s 2015 tax fraud
scandal, in which the DTA paid several billion kroner to fraudulent claimants. Read more