Standard refund - eligibility, documentation, deadlines - Belgian debt securities
Who can apply for a standard refund?
A standard refund of withholding tax on interest from Belgian debt securities deposited with Euroclear Belgium (CIK SA/NV) is available through Clearstream Banking for beneficial owners as follows:
| Eligible beneficial owners | Effective rate of tax after refund | Tax refund available a |
| Residents of Double Taxation Treaty (DTT) countries | Tax treaty rate or 30%, whichever is lower | 30% minus the tax treaty rate b |
| Supranational or international organisations | 0% c | 30% |
a. Expressed as a percentage of the gross interest amount.
b. Amount of refund will be 0% if the DTT rate exceeds 30%.
c. If the securities were effectively held by the beneficial owner for the full interest year.
Documentation requirements
There are different documentation requirements depending on the status of the beneficial owner:
Residents of Double Taxation Treaty (DTT) countries:
- Form 276-Int.-Aut. The form must be completed by the beneficial owner or its representative and stamped by the tax authorities of the beneficial owner’s country of residence;
- Original Credit Advice provided for each standard refund application by each intermediary between the final beneficial owner and Clearstream Banking;
- Power of Attorney from the final beneficial owner;
- Power of Attorney from the Clearstream Banking customer;
- Letter of Request to Clearstream Banking for Reclaim of Belgian Withholding Tax.
Supranational or international organisations:
- Attestation individuelle;
- Original Credit Advice provided for each standard refund application by each intermediary between the final beneficial owner and Clearstream Banking;
- Power of Attorney from the final beneficial owner;
- Power of Attorney from the Clearstream Banking customer;
- Letter of Request to Clearstream Banking for Reclaim of Belgian Withholding Tax.
Deadline for receipt of documents
The statutory deadline for reclaiming withholding tax using the standard refund procedure through Clearstream Banking is at the latest two months before the statutory deadline.
Important note:
The statutory deadline for reclaiming tax over-withheld at source on Belgian securities depends on the date on which the payment took place and the tax amount withheld at source was transferred to the Belgian Treasury.
According to the law provisions, the deadlines are as follows:
- For payments made after 1 January 2011: five years as of 1 January of the year in which the tax withheld was remitted to the Belgian Treasury. Example: payment of 15 March 2011 – deadline 31 December 2015;
- For payments made before 1 January 2011: five years as of 1 January of the year following the year in which the respective payment took place. Example: payment of 15 March 2010 – deadline 31 December 2015.
When are refunds received?
The estimated time for receiving a standard refund is 18 to 24 months from the date of receipt of the documents by the Belgian Tax Authorities.