Standard refund - eligibility, documentation, deadlines - Belgian debt securities (Securities held in CBF)
Who can apply for a standard refund?
A standard refund of withholding tax on interest from Belgian debt securities deposited with Euroclear Belgium is available through LuxCSD for beneficial owners as follows:
| Eligible beneficial owners | Effective rate of tax after refund | Tax refund available a |
Residents of Double Taxation Treaty (DTT) countries | Tax treaty rate or 30%, whichever is lower | 30% minus the tax treaty rate b |
Supranational or international organisations | 0% c | 30% |
a. Expressed as a percentage of the gross interest amount.
b. Amount of refund will be 0% if the DTT rate exceeds 30%.
c. If the securities were effectively held by the beneficial owner for the full interest year.
Documentation requirements
There are different documentation requirements depending on the status of the beneficial owner:
Residents of Double Taxation Treaty (DTT) countries:
- Form 276-Int.-Aut. The form must be completed by the beneficial owner or its representative and stamped by the tax authorities of the beneficial owner’s country of residence;
- Original Credit Advice provided for each standard refund application by each intermediary between the final beneficial owner and LuxCSD;
- Bank statement from the beneficial owner to prove that the beneficial owner has been credited with the net income payment;
- Full chain of Power of Attorney including but not limited to:
- Power of Attorney from the final beneficial owner;
- Power of Attorney from the LuxCSD customer;
- Letter of Request to LuxCSD for Reclaim of Belgian Withholding Tax.
Supranational or international organisations:
- Attestation individuelle;
- Original Credit Advice provided for each standard refund application by each intermediary between the final beneficial owner and LuxCSD;
- Bank statement from the beneficial owner to prove that the beneficial owner has been credited with the net income payment;
- Full chain of Power of Attorney including but not limited to:
- Power of Attorney from the final beneficial owner;
- Power of Attorney from the LuxCSD customer;
- Letter of Request to LuxCSD for Reclaim of Belgian Withholding Tax.
Deadline for receipt of documents
The statutory deadline for reclaiming withholding tax using the standard refund procedure through LuxCSD is at the latest two months before the statutory deadline.
Important note:
The statutory deadline for reclaiming tax over-withheld at source on Belgian securities depends on the date on which the payment took place and the tax amount withheld at source that was transferred to the Belgian Treasury as follows:
- Five years as of 1 January of the year in which the tax withheld was remitted to the Belgian Treasury. Example: payment of 15 March 2019 – deadline 31 December 2023.
When are refunds received?
The estimated time for receiving a standard refund is 18 to 24 months from the date of receipt of the documents by the Belgian Tax Authorities.