About TaxRelief

DTC TaxRelief

(TaxRelief) is a technology-based communications facility that enables depository participants to withhold international tax efficiently for themselves and for their customers, either immediately at the time a non-U.S. dividend payment is made ("at-source" relief) or subsequently through accelerated refunds. This capability is based on tax relief arrangements established with various countries' tax authorities and securities issuers. By using the service, participants certify electronically the share quantities of their record date positions at the depository that are entitled to receive a particular distribution exempt from international tax or at a reduced rate of withholding tax based on beneficial owner eligibility. TaxRelief is an efficient alternative to the manual process of filing a reclaim form.

TaxRelief applies to various depository-eligible international security types, including American depositary receipts (ADRs), equities and fixed income securities, based on arrangements established among the depository and applicable tax authorities and securities issuers.

Who can use the service

TaxRelief is available to all DTC participants, and is especially useful in meeting the needs of global custodians and tax operations areas.

How the service works

TaxRelief is accessible through DTC's Participant Terminal System (PTS) under the EDS function (Elective Dividend Service). Once you have signed on to EDS, simply select Option #2, Foreign Securities, to begin the process of choosing the appropriate tax elections.

Benefits

Major advantages of TaxRelief:

Provides fast and efficient at-source or accelerated relief for depository-eligible securities in 15 international markets:

  Canada
  Finland
  France
  Germany
  Indonesia

  Ireland
  Japan
  Korea
  Netherlands
  Norway

  Russia
  Spain
  Sweden
  Switzerland
  Uruguay

Increases investors' returns on investment by giving them faster access to withholding tax monies or refunds, which can then be reinvested
Simplifies record keeping through automation and elimination of paper-intensive processes
Enables participants to toggle easily to the depository's withholding tax repository, DTC Taxinfo , to obtain detailed tax relief information on countries whose securities are eligible for the TaxRelief service.

For more information

To learn more about TaxRelief, contact your Relationship Manager, e-mail us at globaltaxservices@dtcc.com or call the International Tax Product Management Group at 212-855-2700 or 44 207 444 0000.

DTC TaxRelief

is a service mark of The Depository Trust Company, the world's largest securities depository. DTC is a subsidiary of The Depository Trust & Clearing Corporation (DTCC).