GlobeTax Supports New Tax Reclaim Process in the Czech Republic

GlobeTax is expanding services in support of a new tax reclaim process in the Czech Republic.
By Janet Du Chenne(59204)
GlobeTax is expanding services in support of a new tax reclaim process in the Czech Republic.

Komercni Banka has announced a cash dividend with BNY Mellon acting as the sole depositary for the company’s depositary share program. All uncertified holders will receive the dividend net of the full Czech statutory withholding rate of 35%. Certified holders may be eligible to receive favorable or reduced withholding tax relief.

Based on the investor’s country of residency, favorable treaty withholding rates range from 5-15%, with eligible U.S. residents qualifying for the 15% rate. DTCC has arranged for availability for relief at source through its EDS system and a long form process will also be available for eligible investors.

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