Current EU withholding tax procedures are costly, inefficient and prone to fraud. Is the Commission’s ‘FASTER’ proposal the answer? Paul Radcliffe, Reinhart Devisscher and Ramzan Bashir (EY) investigate.
Current complexity
Obtaining WHT relief in the context of a cross-border portfolio investment can be complicated. To illustrate this complexity it is useful to remind ourselves of what is broadly required to make such a claim for relief:
the claimant will need to source and provide a certificate of residence (from the investor’s state of residence);
the relevant WHT claim forms and supporting documents as requested by the source state of investment will need to be completed and compiled by the claimant;
the claim forms will often contain detailed representations requiring the claimant to attest to beneficial ownership of the income and may have reference to local laws; and
the forms will generally be paper based may...
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Current EU withholding tax procedures are costly, inefficient and prone to fraud. Is the Commission’s ‘FASTER’ proposal the answer? Paul Radcliffe, Reinhart Devisscher and Ramzan Bashir (EY) investigate.
Current complexity
Obtaining WHT relief in the context of a cross-border portfolio investment can be complicated. To illustrate this complexity it is useful to remind ourselves of what is broadly required to make such a claim for relief:
the claimant will need to source and provide a certificate of residence (from the investor’s state of residence);
the relevant WHT claim forms and supporting documents as requested by the source state of investment will need to be completed and compiled by the claimant;
the claim forms will often contain detailed representations requiring the claimant to attest to beneficial ownership of the income and may have reference to local laws; and
the forms will generally be paper based may...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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