Inaccurate KraftHeinz Dividend

Good day,

KraftHeinz declared a dividend of $0.40 per share, paid of 27th March- https://finance.yahoo.com/news/kraft-heinz-company-declares-regular-121000988.html

However, I received $0.28. Considering US tax of 15% off $0.40. How come I’m being paid $0.28? Can someone please explain to me.

I’ve agreed and submitted the US double taxation form when account was opened in September. Since some dividend had 30%, some 15% deducted.

In addition, for full transparency, can you show reason for all deduction or additional charges, taxes etc in notification and history. It doesn’t make sense taking money from people’s account without given explanation for deduction.

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Did you receive the dividend in GBP?

$0.40 would be $0.34 after tax and £0.28 when converting to gbp at today’s rate (roughly).

His assesment is correct. I’m unsure why these dividends look like they have been subjuct to 30% witholding tax.

That’s what I thought

Just for the record also:

We are looking into it. Will come back to you when there is any update.

+1, had the same issue today with BAC dividend. Was withheld 30% instead of the usual 15%. I’m sure they’ll resolve this. :slight_smile:

Good evening, gentlemen. The issue has been resolved and your accounts have been funded, where the missing dividends are due. Please excuse us for the caused inconveniences as we have taken measures to prevent such events from happening again.

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@PeterA Good thing you guys fixed this but somehow it gives me the idea that I’m going to have to check my future dividends to make sure they’re correct. Hopefully it won’t happen again in future

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My dividend history still has $0.28. Can you check please?

Hey @renabee. The missing part was funded to you account through a transaction.

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You didn’t address the other point I have raised.

We are discussing improvements in our information/update delivery systems, which will also reflect the way your dividends/results are stated and reported. So just bear with us for a while more.

In the meantime, as far as charges go from our side(if any)- you can use this as a reference. For taxation and country/stock specific info, you can double-check via many freely accessible and reliable, online sources, such as this one - Tax Guide, as well as the websites of the exchanges and the investors’ relations pages. Or, you can always rely on our 24/7 customer care team to clear out any missing pieces.

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I have the same issue. All my US share dividends are taxed at 30% instead of 15% although I have sent a W8BEN form. UCITS ETF dividends are correctly delivered with no tax.

ETFs are EU based, some are Irish, some UK, some German based. So tax is according to EU treaties.

I also noticed 0% tax from UK based securities. Not sure that is intend for Non-UK residents. Or due to fact that t212 is UK based.

For US stocks it depends from which country you originate. Not all countries have treaty with US…

UCITS ETFs have 0 tax across the EU I believe. My country has indeed a US treaty with the US and it’s 15%.

I didn’t properly address, I ment is ETFs already have 15% withold from dividends between US and country of ETF origin. Due to EU treaties with US

Thus 0% tax paid by investor.

Regarding witholding tax, you should reach out to t212 directly via email to look into your case… :slight_smile:

Hope, detailed dividends report will be provided before the end of year and also on all historical (year 2020) payments, not only after the change implementation.
Things like that (ie. you’re notifed by customers that dividends are not correctly calculated !?) doesn’t inspire confidence and without propper tax witheld report, I worry that I will have problems with my annual tax report (I should provide proof that foreign tax was witheld). I also contacted T212 support but they cannot provide printout either, so until this is resolved, I’m not buying any more dividend shares (will also sell all portfolio by eoy if this is not resolved).

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