We would like to remind our clients of the necessity to provide us with new Certificates of Tax Residence for 2017 in order to be able to avail of reduced tax rates on income payments.
The Certificates of Tax Residence have to be accompanied by Beneficial Owner Declarations, where applicable. The Beneficial Owner Declaration is a one-time document and in case it has already been provided in the past it continues to be still valid, until revoked or amended by the beneficial owner.
The Certificate of Tax Residence must be an original document or a certified copy with a wet ink signature and/or stamp. In case the Certificate of Tax Residence does not have a wet ink signature and/or stamp, it must be certified by a notary - confirming the document is an original one or a true copy of the original document issued by the Tax Authority of the particular country - and must also be apostilled.
Impact on investors: New tax documentation for 2017 has to be submitted in order for beneficial owners to avail of reduced tax rates.