Market Taxation Guide - Denmark
This Market Taxation Guide (Denmark) provides the following details:
- Reference information about all taxes applied at source, to securities deposited in Clearstream Banking1 and
- Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.
New and improved tax information and procedures that become available will be included on an ongoing basis.
Scope of the Guide
Except where otherwise specified, the information and procedures described apply to securities deposited by Clearstream Banking with its local depository and will therefore generally apply to domestic securities - securities issued by issuers of Denmark in offerings in Denmark.
Information provided in the Guide
The following information is provided:
- The types of tax applicable at source to securities deposited with Clearstream Banking
- The standard rate of withholding tax on income distributions
- Whether relief at source is available through Clearstream Banking
- Whether a tax refund is available through Clearstream Banking and, if so, what types of refund are available and which beneficial owners are eligible
- The beneficial owners that are eligible to obtain tax relief through Clearstream Banking
- The procedures available to reclaim tax through Clearstream Banking, that includes descriptions of:
- What documentation is required
- Who is required to complete each document;
- How often the documentation must be provided
- Whether the original of a document is required or a copy is sufficient
- What is the statutory deadline for reclaiming withholding tax
- What deadline is in force for the receipt of the documentation
- When the customer may normally expect to receive a reclaimed refund amount.
Important note
This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.
Market specifics
The following details are specific to the Danish market.
Debt securities
No withholding tax, capital gains tax or stamp duty is levied on interest from Danish debt securities held in Clearstream Banking.
Equities
Equities | Holding restriction? | Withholding tax rate | Relief at | Quick | Standard |
yes | 27% | ||||
Residents of Double Taxation Treaty (DTT) countries | No | No | Yes | ||
Tax exempt entities | No | No | Yes | ||
Qualifying U.S. pension funds | No | No | Yes | ||
Residents of a country with an international treaty or convention with Denmark | No | No | Yes | ||
Capital gains tax
There is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. Capital gains tax may however be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.
Stamp Duty
There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.
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1. “Clearstream Banking” refers collectively to Clearstream Banking S.A. and Clearstream Banking AG (for Clearstream Banking AG customers using Creation accounts).