@RLX, our intermediary sends the dividends to us with the relevant standard fee for the respective country, and we apply the same fee when distributing the dividends to the shareholders. So, the fact that we’re UK-based and the shares are held in an omnibus account is irrelevant in this regard.
Who gives the difference? The broker or the tax authorities?
I know it is possible to file a request with the tax authorities asking for their evaluation of the situation. Not sure what the outcome would be positive!
The broker can give the diference (35%-28%).
If you want to include dividends on your tax return, in that case the authorities will adjust the correct diference.
Hi @Momchil.G, i already had a very long exchange via the chat tool on the app about this topic with T212 helpdesk.
I am really sorry this was not proprely disclosed from the start.
As mentioned on that chat, this is a complete deal breaker for me for this particular market.
Also for sake of clarity, the normal rate is 28%, not 35%.
For Portuguese Tax Authority, Omnibus accounts will always have a 35% withholding tax, due that the specific nature of Omnibus accounts doesn’t allow to identify each individual investor, as the funds are not segregated for each investor inside that account.
@RLX that does not change the initial reply from T212: that 28% would be applied.
I am glad I bought only 1 share of navigator to try it out as they went ex-date a couple of days ago.
At the end i prefer to keep my portfolio of PT/EU stocks at XTB (they also offer a bigger selection of PT stocks)