Relief at source – Finnish Treasury bills denominated in EUR (zero coupon notes) (LuxCSD as issuer CSD)
Eligible beneficial owners
The following beneficial owners are eligible to obtain relief at source from withholding tax on redemption payments on Finnish Treasury bills denominated in EUR (zero coupon notes issued through LuxCSD as issuer CSD):
Beneficial owner type | Withholding tax rate |
Non-resident | 0% |
Resident – legal entities | 0% |
Resident – individual | 30%a |
a. Even if clients hold Finnish Treasury bills denominated in EUR (zero coupon notes issued through LuxCSD as issuer CSD) on behalf of a Finnish tax resident individual beneficial owner that is subject to the maximum default withholding tax rate of 30% through LuxCSD, the respective client must disclose to LuxCSD the details of the individual beneficiary resident in Finland due to reporting requirements.
Documentation requirements
In order to obtain relief at source on behalf of eligible beneficial owners, clients must submit the following documentation to LuxCSD before the relevant deadlines:
- One-Time Certificate for Finnish Treasury bills denominated in EUR (zero coupon notes issued through LuxCSD as issuer CSD)
- Per-Payment Instruction
Deadline
In order to benefit from tax relief at source or for applying the applicable acquisition cost for withholding tax calculation purposes (Finnish individuals) on Finnish Treasury bills denominated in EUR (zero coupon notes issued through LuxCSD as issuer CSD), clients must ensure that the accurate documentation is submitted by the following deadlines:
Documentation | Deadline |
One-Time Certificate for Finnish Treasury bills denominated in EUR (zero coupon notes issued through LuxCSD as issuer CSD) | Three days prior to the first redemption payment date, by 10:00 CET. |
Per-payment instruction | Three days prior to the redemption payment date, by 10:00 CET. |