Quick refund – eligibility, documentation, deadlines – Finnish equities (CBF)
A quick refund is available for eligible beneficial owners, if full or partial relief of withholding tax on publicly listed Finnish equities has not been obtained at source.
To apply for a quick refund of withholding tax on dividends, the same documentation requirements are applicable as for the relief at source process, except, clients must in addition also send a per-payment request for a quick refund.
The per-payment request for quick refund, must be provided per each country of tax residence and tax rate required, via Swift formatted MT568 or Xact Web Portal message and must include the following details:
- Request for quick refund
- Client account number;
- ISIN code;
- Clearstream Banking Corp ID;
- Tax rate to apply: to be included in field :92A::TAXB// for Swift users or Tax Rate field for Xact Web Portal users),
- Country of residence for tax purposes, to be specified as follows:
- Swift users: BENODET sequence in field :94C::DOMI//country of tax residence in ISO format, and in field :95V::OWND//country and “beneficial owners”, for example: “German beneficial owners; or
- Xact Web Portal users: in the Beneficial Owner Details sequence under “benfplace”);
- Holding for which the reduced/exempt tax rate applies.
Deadline
The quick refund can be applied for between 1 June and 1 November of the year of the dividend payment.