Norwegian dividend taxation

What is an LEI code?

The LEI (Legal Entity Identifier) code is a global legal entity identifier consisting of a unique 20-character code.
Legal entities are required to have an LEI code in order to perform transactions with financial instruments.
We offer our customers the opportunity to apply for an LEI code on favourable conditions through our partner here.

Financial instruments that can be traded on trading venues (regulated markets, multilateral trading facilities, or organised trading facilities) in the European Economic Area, such as shares, bonds and exchange traded funds (ETFs).
Over-the-counter derivatives, such as currency, stock, interest rate, and commodity derivatives (forwards, swaps, and options).
Exchange-traded derivatives, such as options and futures.

The LEI is not required if a legal entity only purchases units of investment funds (non-exchange-traded investment funds, i.e., non-ETFs) or Government Savings Notes.

We offer our customers the option to apply for an LEI code under favourable conditions through our partner here.
You can also choose from one of the international institutions authorised to issue LEI codes here.

An LEI code is usually issued within a few hours to a few days, if you choose our partner (subject to the respective LEI provider’s conditions), or according to the rules of the respective international institutions authorised to issue LEI codes.

The LEI code registration and annual subscription fees vary depending on the issuing institution.

The bank automatically receives daily updates about companies listed in the LEI code register. No additional notification is required.

A customer who is a legal entity must have a valid LEI code to properly fulfil the reporting obligation. Before trading in financial instruments, the investment service provider must verify that the customer has a valid LEI code and may refuse to provide the service if the customer does not.

Norwegian dividend taxation

As of 2019, rules concerning the application of a lower withholding tax rate than 25 per cent will apply on dividend distributions from Norwegian companies to foreign shareholders.

Statutory tax rate: 25%
Treaty rate for Lithuanian residents: 15%

Treaty tax rate may be applied if client’s tax residency is Lithuania and the client provides valid documents to the bank according to requirements mentioned below. Additionally, stocks have to be on the securities account on the ex-date.

For application of reduced withholding tax rate, the client has to provide the bank with necessary documents at the latest three business days before dividend ex-date.

The client shall be liable for submission of required documents, also for the accuracy of the documents and payment of all taxes associated with the securities. The bank shall not be liable for damages caused to the client due to applied tax rate or due to failure to submit required documents or to submit these on time. The bank shall not be obliged to remind the client about the need to provide or update documents needed for application of lower tax rate.

A certificate of residency (CoR)

Issued by local Tax Authority

Certificate has to refer to Double Taxation Treaty between Lithuania and Norway.

As the certificate of residency is valid only for present calendar year, the certificate of residency has to be provided for each year the treaty rate is applied for.
Confirmation from the dividend recipient that they are the beneficial owner of the dividend

Document sample is added. Current document is valid after first submission until underlying circumstances will change and client presents new confirmation.

A legal person will need to submit the following documents to Swedbank for income tax under the double taxation agreement:

confirming the dividend recipient is entitled to a reduced withholding tax rate.

To obtain this approval, the customer must apply to the Norwegian tax authorities for a more favorable income tax rate or tax exemption to the following address:

Central Tax Office - Foreign Tax Affairs (SFU)
Skatteetaten
Postboks 9200 Grønland
0134 Oslo
NORWAY

The Approval is valid until underlying circumstances will change. In which case client has to present new confirmation.

Issued by local Tax Authority

Certificate has to refer to Double Taxation Treaty between Lithuania and Norway.

As the certificate of residency is valid only for present calendar year, the certificate of residency has to be provided for each year the treaty rate is applied for.

Document sample is added. Current document is valid after first submission until underlying circumstances will change and client presents new confirmation.

If based on the Approval a tax exemption is applied (0%), then the Approval is valid for three years after first submission or until underlying circumstances will change. Client has to provide following confirmation after every three years from initial acceptance.

The confirmation has to be presented before three years have passed from initial Approval date.

Suggested process for legal person should be:

Seek for the Norwegian tax authorities approval for a More favorable income tax rate or Tax exemption.
Get a certificate of residency from local Tax Authority for the current calendar year.
Fill the beneficial owner confirmation - Confirmation from the dividend recipient that they are the beneficial owner of the dividend.
Gather all previously obtained documents and present to the bank at the latest three business days before ex-dividend date.
Every next calendar year provide new certificate of residency from local Tax Authority.

Documents can be provided to the bank over the year, three business days before dividend ex-date at the latest.
If required documentation is not provided to the bank before dividend ex-date, then dividend will be paid out with statutory rate (25%).
A certificate of residency (issued by local Tax Authority) should be renewed every year, since it is given only for present calendar year.

Process for presenting needed documentation to the bank:

You can upload needed document here.

As a legal person you can upload documents in the business customer internet bank.

Choose Type → Investment Agreements

Subtype has to be chosen accordingly to uploaded document. Each document is uploaded under separate, specific subtype. Only relevant subtypes are available for private and corporate customer.

Please revise if you have presented all the necessary documents.

All documents presented to bank have to be manually signed (preferably with blue ink pen)! Manually signed document has to be scanned and uploaded.

Documents are valid until underlying circumstances will change, in which case client has to present new documents and notify bank.

Finnish dividend taxation

As of January 2024 Finnish dividend reciever has to submit a new form – Investor Self-Declaration (dividends). The declaration is valid for the year of submission and the following 5 years or until underlying circumstances change. Previously provided Beneficial Owner Confirmation is not valid from 01.04.2024.

Please fill out a new form and upload with your Certificate of Residency.

NB! Please mark all your Securities accounts in Swedbank where Finnish Securities are held or will be held.

As of January 1st, 2021, rules for the application of a lower withholding tax rate on dividend distributions from Finnish companies to foreign shareholders, in contrast to 30/20 per cent* applied for foreign residents, enter into force.

NB! Lower withholding tax rates are not available for those Finnish securities which are traded in other markets than Finland.

* Statutory tax rates in Finland non-residents:

30% for private persons
20% for legal entities
Treaty tax rate for Lithuania an residents: 15%

Treaty tax rate may be applied if your tax residency is in Lithuania and you are able to provide valid documents to the bank according to requirements mentioned below. Additionally, stocks have to be on the securities account on the ex-dividend date.

For application of reduced withholding tax rate, you must provide the bank with necessary documents three business days before dividend ex-date at the latest.

According to the Finnish regulation, 25,5% WHT will be applied to the Client whose data can be disclosed (name, ID, address, Finnish tax-ID). If Swedbank do not have all relevant data, 50% withholding tax will be applied.
If you are Finnish tax resident, please make sure you have provided your Finnish tax-ID to Swedbank.

A Certificate of Residency (CoR)

Issued by local Tax Authority.

Certificate has to refer to Double Taxation Avoidance Convention between Lithuania and Finland.

Certificate should be in English and manually signed.

As the certificate of residency is valid only for current calendar year, the certificate of residency has to be provided for each year the treaty rate is applied for.
Investor Self-Declaration (dividends)

As of January 2024 Finnish dividend reciever has to submit a new form – Investor Self-Declaration (dividends). The declaration is valid for the year of submission and the following 5 years or until underlying circumstances change. Previously provided Beneficial Owner Confirmation is not valid from 01.04.2024.

Please fill out a new form of Investor Self-Declaration (dividends) for
- Private customer
- Business customer
and upload with your Certificate of Residency.

NB! Please mark all your Securities accounts in Swedbank where Finnish Securities are held or will be held.

In order to receive a favorable tax rate, it is necessary to submit both the certificate of residency (CoR) and Investor Self-Declaration (dividends)
Documents can be provided to the bank over a year in advance, three business days before dividend ex-date at the latest.
35% tax rate will be applied if, at the time of payment, there is no identifying information on the beneficial owner.
A certificate of residency (issued by local Tax Authority) should be renewed every year, since it is valid only for current calendar year.

Process for presenting needed documentation to the bank:

You can upload needed document here.

As a legal person you can upload documents in the business customer internet bank.

Choose Type → Investment Agreements

Subtype has to be chosen accordingly to uploaded document. Each document is uploaded under separate, specific subtype. Only relevant subtypes are available for private and corporate customer.

Please revise if you have presented all the necessary documents.

All documents presented to bank have to be manually signed (preferably with blue ink pen)! Manually signed document has to be scanned and uploaded.

Documents are valid until underlying circumstances will change, in which case client has to present new documents and notify bank.

Taxation of Swedish dividends

Foreign shareholders of Swedish companies are subject to:

Statutory tax rate of 30%; or
Treaty tax rate of 15% for Lithuanian residents.

NB! Treaty tax rate is applicable only in case of Swedish company’s shares purchased directly from the Stockholm Stock Exchange. It does not demand any additional actions from customers.

It is not possible to request the treaty tax rate for those Swedish securities that are traded on markets others than Sweden.

From 01.09.2022, Swedbank will not be able to apply the treaty tax rate to dividends paid out by Swedish companies, which have been purchased from the Helsinki Stock Exchange in Finland. In the case of those securities, the applicable tax rate is 30%.

Norwegian dividend taxation

What is an LEI code?

Norwegian dividend taxation

Suggested process for legal person should be:

Process for presenting needed documentation to the bank:

Finnish dividend taxation

Process for presenting needed documentation to the bank:

Taxation of Swedish dividends

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Norwegian dividend taxation

What is an LEI code?

Norwegian dividend taxation

Suggested process for legal person should be:

Process for presenting needed documentation to the bank:

Finnish dividend taxation

Process for presenting needed documentation to the bank:

Taxation of Swedish dividends

Jūsų Internet Explorer naršyklė nebepalaikoma.

Prašome naudoti Google Chrome, Mozilla Firefox ar Microsoft Edge naršykles.

Your session at the Internet Bank has ended – we look forward to welcoming you back!

Casko now, safety always!

Contacts

Useful links

Legal information