Investment Operations

Global Tax Withholding and Reclamation

Categories Introductory, Operations

Course Instructor

Course Level

Beginner

Certification

Certificate

Delivery

Via Zoom

Hours (EST)

9:00 am - 1:00 pm​

Description

Date: TBD

Billions of dollars of taxes are over-withheld on cross-border securities investments worldwide every year, millions are spent by custodians and others to get some of it back, yet billions remain left on the table. In this 1/2-day class, participants will learn how the system works, what the industry best practices are, and what needs to be done to maximize your organization’s opportunity to deliver the best possible cross-border withholding tax relief service to your customers. Prerequisite: None

Agenda

International Withholding Taxes, Theory and Practice

  1. Statutory withholding tax rates/rules
  2. Tax rates under treaties, domestic law and EU Law
  3. Avoidance of Double Taxation
  4. Relief at source
  5. Retroactive tax relief (“tax reclaim”)
  6. Statutes of Limitations

Customer Account and Tax Status Issues 

  1. Individuals, Corporations, Investment Funds (CIVs), Trusts
  2. Banks/Intermediaries/Nominees/Custodian
  3. Pensions, IRA accounts, Not-for-profits
  4. Definition of Beneficial Owner
  5. “Name that Beneficial Owner”
  6. IRS Form 6166, Certification of Tax Residence and “Address Rule”
  7. Account Documentation – best practices

DTC Elective Dividend Service (EDS) / “Corporate Actions Web”

  1. American Depositary Shares vs. Ordinary Shares
  2. DTC’s cross-border tax relief programs
  3. Role of Depositaries, Globe Tax, Goal Group, Acupay

Local Custodians and Tax Authorities

  1. Why must tax reclaims be filed with custodians in some markets and with tax authorities in others?

OECD (Organization for Economic Cooperation and Development) Update

  1. What is the OECD and how does it impact cross-border withholding tax relief
  2. Status of the project to harmonize and standardize withholding tax relief procedures worldwide
  3. Collective Investment Vehicles and the recognition for tax relief at the entity level
  4. “EU Law” tax relief update

Summary & Questions

In-House Training

Custom Training can help you achieve your corporate training goals while staying on budget and focusing the content on the needs of your group. Email your questions regarding corporate training to training@investmentoperations.net.

2024 Training Calendar

Training Catalogue

Course Instructor

Course Level

Beginner

Certification

Certificate

Delivery

Via Zoom

Hours (EST)

9:00 am - 1:00 pm​

Description

Date: TBD

Billions of dollars of taxes are over-withheld on cross-border securities investments worldwide every year, millions are spent by custodians and others to get some of it back, yet billions remain left on the table. In this 1/2-day class, participants will learn how the system works, what the industry best practices are, and what needs to be done to maximize your organization’s opportunity to deliver the best possible cross-border withholding tax relief service to your customers. Prerequisite: None

Agenda

International Withholding Taxes, Theory and Practice

  1. Statutory withholding tax rates/rules
  2. Tax rates under treaties, domestic law and EU Law
  3. Avoidance of Double Taxation
  4. Relief at source
  5. Retroactive tax relief (“tax reclaim”)
  6. Statutes of Limitations

Customer Account and Tax Status Issues 

  1. Individuals, Corporations, Investment Funds (CIVs), Trusts
  2. Banks/Intermediaries/Nominees/Custodian
  3. Pensions, IRA accounts, Not-for-profits
  4. Definition of Beneficial Owner
  5. “Name that Beneficial Owner”
  6. IRS Form 6166, Certification of Tax Residence and “Address Rule”
  7. Account Documentation – best practices

DTC Elective Dividend Service (EDS) / “Corporate Actions Web”

  1. American Depositary Shares vs. Ordinary Shares
  2. DTC’s cross-border tax relief programs
  3. Role of Depositaries, Globe Tax, Goal Group, Acupay

Local Custodians and Tax Authorities

  1. Why must tax reclaims be filed with custodians in some markets and with tax authorities in others?

OECD (Organization for Economic Cooperation and Development) Update

  1. What is the OECD and how does it impact cross-border withholding tax relief
  2. Status of the project to harmonize and standardize withholding tax relief procedures worldwide
  3. Collective Investment Vehicles and the recognition for tax relief at the entity level
  4. “EU Law” tax relief update

Summary & Questions

In-House Training

Custom Training can help you achieve your corporate training goals while staying on budget and focusing the content on the needs of your group. Email your questions regarding corporate training to training@investmentoperations.net.

2024 Training Calendar

Training Catalogue

Want to receive push notifications for all major on-site activities?