Forms descriptions - relief at source - Hungarian equities
This paragraph provides information regarding the various tax forms to be completed in order to benefit from relief at source of withholding tax on dividends from Hungarian equities. The templates of the forms are available on our Tax Forms to use section.
One-Time Certificate for dividend payments on Hungarian equities
The One-Time Certificate for dividend payments on Hungarian equities should be submitted by all customers before the first applicable interest payment date.
The document specifies whether the customer is the sole beneficial owner of all Hungarian securities held in the account. Any changes to any details must be communicated in a new One-Time Certificate.
How many are provided? | One per Clearstream account. |
Who completes it? | Clearstream's customer. |
How often is it provided? | Once, it is valid until revoked. |
When is it provided? | At the latest by 18:00 CET two business days before the record date of the first dividend payment to which it applies. |
Copy or original? | Original required. |
Per-Payment instruction
The per-payment instruction must be provided per tax rate either via Xact Web Portal or by a formatted SWIFT MT565 message (please refer to the Customer Handbook or Xact via SWIFT User Guide for full formatting requirements). It must include:
- Customer account number;
- ISIN code;
- CBL Corp ID;
- Instructed quantity (according to the eligible balance in the account);
- Tax rate to apply: to be included in field :92A::TAXB// for SWIFT users or tax rate field for Xact Web Portal users;
- A breakdown of positions according to the final beneficial owners’ status and residency (HU or non-HU);
- Beneficial owner details (for individuals claiming DTT only), as follows:
- FULL NAME
- BIRTH NAME
- DATE, CITY, COUNTRY OF BIRTH
- GENDER (MALE/FEMALE)
- MOTHER'S FULL MAIDEN NAME
- FULL FISCAL ADDRESS
- NATIONALITY
- PASSPORT/CARD ID NUMBER
- COUNTRY OF FISCAL RESIDENCE
How many are provided? | One per relief at source application and per tax rate. |
Who completes it? | Clearstream's customer. |
How often is it provided? | One per relief at source application. |
When is it provided? | On record date by 10:00 CET at the latest. |
Copy or original? | Not applicable. |
Certificate of residence
An original Certificate of Residence should be provided by private individuals residents in a DTT country. It should be issued in English by the beneficial owner’s local tax authorities in the year for which it is to be used.
The document is valid from the date of the signature until the end of the respective calendar year.
How many are provided? | One per beneficial owner. |
Who completes it? | The beneficial owner’s local tax authorities. |
How often is it provided? | Once per calendar year. |
When is it provided? | At the latest by 18:00 CET two business days before the record date of the first dividend payment to which it applies, to be renewed annually. |
Copy or original? | Original required. |
Declaration of beneficial ownership (DBO)
A Declaration of beneficial ownership should be completed and signed by individual residents in a DTT country, if it is requested by the applicable DTT.
The document must be provided for each relief at source application.
How many are provided? | One per beneficial owner. |
Who completes it? | The beneficial owner. |
How often is it provided? | One per relief at source application. |
When is it provided? | At the latest by 18:00 CET two business days before the record date of the dividend payment to which it applies. |
Copy or original? | Original required. |