Sweden Didivend Tax Withholding

Does anybody knows if I buy some Sweden ADR is the dividend withholding 15% USA or 30% Sweden (or even both)? Thank you.

Don’t quote me on this, but I believe the ADR is a pass-through in term of taxation; as it is considered a foreign investment, there should be a withholding tax from the originating country.

Regarding US withholding, no idea.

Some (foreign) companies may sometimes have a US listing (not ADR), in which case US listing will be subject to US withholding, but not the company’s original country, while their foreign listing will.

From my understanding of how ADR works, a US bank/broker will be issuing ADR securities while owning the underlying (foreign) shares. In the case of a dividend payment, the issuer should receive payment post withholding from the issuing country, and passing the tax liability onto the ADR holder.

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