Further to our previous Newsflash and the latest announcement of the Central Depository & Clearing Company Inc. (hereinafter: SKDD), whereby the SKDD, in the role of a paying agent for interest on debt securities (currently only interest payments on bonds), is obliged to report the data on individuals receiving interest on debt securities to the local Tax Administration. Global Securities Services of Zagrebacka banka d.d. (hereinafter: GSS) will approach its institutional clients who are in scope with this development.
Furthermore, relevant institutional clients will be obliged, at the request of GSS, to disclose information on the final beneficial owners or confirm that no individuals received coupon payments.
GSS, as a participating custodian member of the SKDD, must disclose the following data on individuals (final beneficial owners) receiving coupon payments on debt securities held on transactional omnibus custody accounts in the SKDD:
- name and surname
- local tax ID number (OIB)
- total coupon amount
- address and residency.
This information will be disclosed to the SKDD via its proprietary IT system by the 10th calendar day of the month following the month when the coupon payment took place.
The first delivery of this data is scheduled for February 9, 2024 for coupon payments executed in January 2024.
Further details will be communicated without delay once received from the SKDD.
Impact on investors: Institutional clients should be advised that GSS will approach them asking for disclosure of information on individuals holding debt securities on transactional omnibus custody accounts at the SKDD when receiving coupon payments.