National Settlement Depository (NSD) has introduced a new service providing an opportunity to reduce a withholding tax rate on foreign issuers’ securities (in compliance with international agreements on avoidance of double taxation) according to the terms and conditions of the service provided by international settlement and clearing organizations Euroclear Bank S.A./N.V. and Clearstream Banking S.A.
Relief-at-source withholding tax rate on foreign issuers’ securities allows NSD’s depositors to receive additional income timely in compliance with international standards of securities servicing.
NSD services 694 foreign issuers’ securities using its accounts with Euroclear Bank S.A./N.V. and Clearstream Banking S.A., and 120 of them are taxable in compliance with the legislation of the countries of origin of the securities.
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