Wrong Witholding Tax stated

It seems that the tax residency of the T212 investor is irrelevant. It matters the tax residency of the investor, that is T212.

There are examples in the forum, and T212 have confirmed that T212 is considered as the owner, an UK owner, so the taxes are withhold according to that. (Although we are the final beneficiary.)

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This is only true for EU shares/dividend.

For US/Canadian shares/dividend, Country of Investor is what matters.

I personally get 30% WTH for US dividend. Due to Croatia not having Tax treaty with US.

There are several wrong issues about the last dividends from Euronext (ENX) paid May 21st, as seen in the CSV file and in the History tab:

  • Wrongly categorized as “Return of capital”, in the reality they are “Dividend (Ordinary)

  • Euronext announced 1.47 EUR gross dividend per share, but T212 says its only 1.25 EUR per share as gross dividend per share, this difference is 0.22 EUR per share or the equivalent of a 15% tax rate

  • T212 says that ENX didn’t had withholding tax, but in reality T212 have withhold 15% tax, despite showing a 0% tax rate. T212 have withhold 0.22 EUR per share.

Bottom-line, T212 shows the net dividend as gross dividend, withhold tax but says no withholding tax and says that the tax rate is 0%

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With similar T212 errors and still to be corrected since April 6th (almost 2 months). T212 withhold taxes but wrongly states that none paid:

→ Please correct these questions, so there isn’t any problem with the tax authorities.

@Team212 ; @Y.M ; @B.E ; @Hris.M

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@Bogi.H as you closed my thread and move it to here, there is any feedback? Or it is just “cleaning” the forum?

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Hey @RLX :wave: ,

I have just sent you a DM.

Any feedback on my question, @Bogi.H / @Team212 ? Company processes a Regular Distribution of Dividend, and T212 processes it as Return on Capital… how is this?

Hey @ValkiR :wave:,

We are working on optimizing the process of dividend distribution.

On a side note, in the dividend attachment at the end of the year, there will be both the Gross and the Net amount of all dividends that you have received during the year.

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Without sounding dishonest is there no way round or minimise this 15% withholding tax levied on UK investors. The dividend i got paid from Coca-cola got hammered with this annoying 15% withholding tax.

There is no way for tax avoidance I’m afraid.

The UK/US tax treaty rate is 15% on dividends. It’s why you complete a w8 ben form to reduce the tax from 30% to 15%.

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It’s 30% for me (with W8ben)… 15% looks better now? :slightly_smiling_face:

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Lampros, this made my day! :grinning_face_with_smiling_eyes:

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Oh well i guess there’s nothing to moan about as it could be worse per @lamprosg

Thanks @Dougal1984

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I can beat your 30%. :grin::rofl:
Another broker i use to invest in my own country stock market applies a 35% withholding tax on dividends.
The correct rate would be 28%!
It is true i can get part back once i submit my anual tax return but still i have to wait up to.1 year to get it back. So yes 15% looks pretty good!

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Finally. I’ll bump when it’s signed (although it’s supposedly a formality), hoping it could be in effect from 1/1/2023.

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Well “only” US Senate verification left.

Yes, by a two-thirds majority. :grimacing:

But I hope we will not get stuck like Chile.