KDD Fee Schedule Amendments

UniCredit Bank Slovenija d.d.
Summary: 
An amended KDD Fee Schedule was published on CSD's web page on 6 June 2013 and will enter into force on 1 July 2013.
Mon, 10/06/2013

The Slovenian CSD, KDD, published a new version of its fee schedule, the main purpose of which is to align its tax charges structure. Most notably, Article 3, which was previously referring to VAT charges, has now been amended to refer to tax charges in general. Please find below a comparison between the old and the new version of the abovementioned article:
 

(presently existing text)    (newly introduced text)

Article 3
Calculation of value added tax

  Article 3
Calculation of tax
The amount of compensation under this
tariff does not include value added tax.
  The amount of compensation under this
tariff does not include value added tax
and any other taxes that need to be
accounted for in respect of the
compensation under this tariff.

 

With the above change, the aim of KDD is to prepare for the possible upcoming introduction of financial transaction tax in Slovenia. However, at the moment, it is still unknown whether securities services will be affected by such financial transaction tax.

The Slovenian version of the new CSD Fee Schedule is available onhttp://www.kdd.si/pravila_in_tarifa/tarife. The English version will be published at a later stage.

Impact on investors: In case the forthcoming financial transaction tax would be applicable to securities services in Slovenia, the cost of such services will increase. Further details lack at the moment, UniCredit GSS Slovenia will continue to monitor the developments and will provide additional details in the upcoming months.