Form descriptions – Quick refund – Swedish equities
The following is a list of information regarding the various tax forms to be completed in order to benefit from quick refund of withholding tax on dividends from Swedish dividends. The templates of the forms are available in the Tax forms to use section.
One-Time Certificate for Swedish Equities
A one-time certification that provides certain statements regarding the beneficial owner of the securities.It is valid until it is revoked.
How many are provided? | One per account or specified set of accounts. |
Who completes it? | Client. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | (Quick refund) no later than six weeks after the income payment date, by 10:00 CET. |
Copy or original? | Original required. |
Per-payment instruction
Clients must submit their per-payment instruction via an MT565 Corporate Action instruction message in Xact via Swift or a CA Instruction in Xact Web Portal when requesting quick refund on dividends from Swedish equities.
The per-payment instruction must be provided for each tax rate and country of tax residence requested, if applicable, and include:
- Impacted Clearstream Banking account number;
- ISIN;
- Corporate ID;
- Total holding;
- Number of shares for which the reduced or exempt tax rate applies.
Additionally, the following formatting information is required in the per-payment instruction for beneficial owners who are eligible for full tax exemption (0%):
Xact via Swift | Xact Web Portal |
:95V: OWND Beneficial Owner | The beneficial owner’s details under the “Party”. |
:94C: DOMI Country of Domicile | Country of domicile (for beneficial owner details) |
:70E: CETI Legal status of the beneficial owner (international organisation, foreign government, UCITS fund, non-UCITS fund or entity within the meaning of EU Parent Subsidiary Directive 2011/96/EU) | The beneficial owner’s legal status under the “Narrative”. |
For full formatting requirements of these instructions, clients should refer to the MT564 Corporate Action event notification and to the Xact via Swift User Guide.
Note: Clients must ensure that the list of holdings relates to settled positions only, without consideration of pending trades..
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Client. |
How often is it provided? | Per dividend payment. |
When is it provided? | (Quick refund) no later than six weeks after the income payment date, by 10:00 CET. |
Copy or original? | MT565 Corporate Action instruction message in Xact via Swift or a CA Instruction in Xact Web Portal. |
Certificate of exemption
A certificate of exemption must be submitted when the client requests full tax exemption for an organisation or foreign government recognised as tax-exempt by the Swedish Tax Authorities.
The form is applicable to obtain tax exemption at source or to apply for a quick or standard refund.
How many are provided? | One per account or specified set of Clearstream Banking accounts. |
Who completes it? | Swedish Tax Authorities. |
How often is it provided? |
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When is it provided? | (Quick refund) at the latest six weeks after the income payment date, by 10:00 CET. |
Copy or original? | Original required. |
UCITS certificate stating that the fund is qualified under the UCITS IV Directive (2009/65/EC)
A certificate must be submitted when the client requests full tax exemption for a fund that qualifies for exemption under the UCITS IV Directive (2009/65/EC)
The form is applicable to obtain tax exemption at source or to apply for a quick or standard refund.
How many are provided? | One per account or specified set of Clearstream Banking accounts. |
Who completes it? | Local authority, similar to the Swedish Financial Supervisory Authority. |
How often is it provided? |
|
When is it provided? | (Quick refund) at the latest six weeks after the income payment date, by 10:00 CET. |
Copy or original? | Copy required. |
Non-UCITS certificate stating that the fund is authorised to market and sell units of the fund in Sweden
A certificate stating that the fund is authorised to market and sell units of the fund in Sweden must be submitted when the client requests full tax exemption for a non-UCITS fund.
The form is applicable to obtain tax exemption at source or to apply for a quick refund.
How many are provided? | One per account or specified set of Clearstream Banking accounts. |
Who completes it? | The Swedish Financial Supervisory Authority. |
How often is it provided? |
|
When is it provided? | (Quick refund) at the latest six weeks after the income payment date, by 10:00 CET. |
Copy or original? | Copy required. |
List of beneficial owners
The list of beneficial owners complements the "One-Time Certificate for Swedish Equities" and the per-payment instruction. It provides the details of beneficial owners that obtained the reduced rate at source/quick refund, the security details and holdings in the security.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Client. |
How often is it provided? | Upon request. |
When is it provided? | Upon request. |
Copy or original? | In the format requested by Clearstream Banking. |
Certificate of residence – Entities within the meaning of EU Parent Subsidiary Directive 2011/96/EU
The certificate of tax residence must:
- Refer to the year in which the dividend payment took place;
- Include the name and the tax identification number of the beneficial owner;
- Confirm that the beneficiary is resident within the meaning of article 4 of the tax convention between its country of tax residence and Sweden and is subject to corporate income tax without any possibility of an option for being exempt.
The certificate of tax residence may be provided as a copy (original upon request) via post and will remain valid for the full calendar year if it meets the above requirements.
Note: It is not a required that the certificate of tax residence refers to the EU Parent Subsidiary Directive (or the requirements set out in the Directive). However, if the certificate of tax residence does not provide such confirmation, the requirements will have to be stated in other documents.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Authorities, client, beneficial owner (as applicable). |
How often is it provided? | (Quick refund) Annually. |
When is it provided? | (Quick refund) at the latest six weeks after the income payment date, by 10:00 CET. |
Copy or original? | Original required. |
Certificate of residence – Other beneficial owners than those according to EU Parent Subsidiary Directive 2011/96/EU
Upon Clearstream Banking’s request, clients must provide any additional information, which Clearstream Banking may request in relation to those beneficial owners for whom quick refund is requested or has been applied for through Clearstream Banking.
Such documentation may be requested in case there is uncertainty regarding the beneficial owner’s eligibility for a reduced tax rate.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Authorities, client, beneficial owner (as applicable). |
How often is it provided? | Upon request. |
When is it provided? | Upon request |
Copy or original? | Original required. |
Confirmation that the beneficial owner is a legal entity as described in Annex I part A and that it is subject to taxation as described in Annex I part B of EU Parent Subsidiary Directive 2011/96/EU
The confirmation has to be provided by submitting the following documents:
- Certificate of deposit from the custodian of the beneficial owner. This certificate should be issued by the direct custodian of the beneficial owner and confirm the number of shares, which the beneficial owner held with the custodian on the record date;
- An extract from the shareholder register;
- A confirmation from an audit firm or other local authority confirming that this company is regulated as described in the Directive.
The confirmation must be provided per each dividend payment and may be provided as a copy via post, but the original has to be provided upon request.
It is sufficient to just refer to the relevant article in the Directive and confirm that the company meets the requirement.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Beneficial owner’s custodian, audit firm (as applicable). |
How often is it provided? | (Quick refund) per payment. |
When is it provided? | (Quick refund) at the latest six weeks after the income payment date, by 10:00 CET. |
Copy or original? | Original required. |
Confirmation of beneficial ownership eligibility
The confirmation must be sent via Swift MT599, using the Clearstream Banking template and is a confirmation that the nothing affecting the eligibility of the beneficial owner has been changed compared to the previous year for the relevant client account and ISIN.
The confirmation is not required for the first quick refund request, but must be submitted for subsequent request.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Clearstream client. |
How often is it provided? | (Quick refund) per payment. |
When is it provided? | (Quick refund) at the latest six weeks after the income payment date, by 10:00 CET. |
Copy or original? | Original required. |