Legal and tax information

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 Estonian residents: 15%

Treaty tax rate may be applied if your tax residency is Estonia and you 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 submit the necessary documents at the latest three business days before the ex-dividend date.

You 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 you about the need to provide or update documents needed for application of lower tax rate.

Necessary documentation for natural person

A Certificate of Residency (CoR)

Issued by local Tax Authority.

Certificate has to refer to Double Taxation Treaty between Estonia 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.

Certificate should be in English.

Certificate issued by local Tax Authority have to be manually signed and scanned.

Important! Digitally signed document does not meet the requirements of the Norwegian Tax Administration.

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.

Necessary documentation for legal person

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

Approval from the Norwegian Tax Administration

This confirms that the dividend recipient is entitled to a reduced withholding tax rate.

To obtain this approval, you 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

Please note that the above form must contain a residency confirmation from the tax office and the consent obtained will remain in effect until the conditions on which it is based have changed. In this case, the customer must submit a new confirmation.

A Certificate of Residency (CoR)

Issued by local Tax Authority.

Certificate has to refer to Double Taxation Treaty between Estonia 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.

Certificate should be in English.

Certificate issued by local Tax Authority have to be manually signed and scanned.

Important! Digitally signed document does not meet the requirements of the Norwegian Tax Administration.

Confirmation from the dividend recipient that they are the beneficial owner of the dividend

Confirmation from beneficial owner that their tax status has not changed since the consent received from the Norwegian Tax Administration.

Do the following:

Apply for the consent of the Norwegian Tax Authority to obtain 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 beneficial owner of the dividend.
Gather all previously obtained documents and present to the bank before ex-dividend date.
Every next calendar year provide new certificate of residency, which you will receive from local Tax Authority.

Useful information

Documents can be provided to the bank throughout the year, but to get a more favourable tax treaty rate, it must be done 3 days before dividend ex-date.
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 applied starting from year 2019 and should be renewed every year, since it is valid only for current calendar year. If dividend ex-date is on Q3, then Certificate of Residency can be obtained during summer.
General information about the documentation requirements for reduced tax rate.

Process for presenting needed documentation to the bank:

1

You can upload needed document here.

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

2

Choose Type → Investment Agreements

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

3

Please make sure if you have presented all the required 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 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 it as PDF-document with your Certificate of Residency.

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

From 1 January 2021, dividends paid to foreign shareholders that are Finnish companies are subject to a lower withholding tax rate of 30% or 20%*.

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

* Tax rates in Finland:

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

Treaty tax rate may be applied if your tax residency is in Estonia and you are able to provide valid documents to the bank according to requirements mentioned below.

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

Important information for Finnish tax resident

Necessary documentation

Certificate of Residency (CoR)

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 (without an end date).

Issued by local Tax Authority.

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

Certificate should be in English.

Certificate issued by local Tax Authority have to be manually signed and scanned. Important! Digitally signed document does not meet the requirements of the Finnish Tax Administration.

Investor Self-Declaration (dividends)

As of 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
Then upload it as PDF-document with your Certificate of Residency.

Important! Mark all your Swedbank Securities accounts where Finnish Securities are held or will be held.

Useful information

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 throughout the year, but to get tax treaty rate documents must be submitted 3 days before ex-date. For example, if dividend ex-date is on Q3, then certificate of residency can be obtained e.g. during summer.
All presented original documents have to be preserved until underlying circumstances will change.
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 renewed every year, since it is valid only for current calendar year.

Process for presenting needed documentation to the bank:

1

You can upload needed document here.

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

2

Choose Type → Investment Agreements

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

3

Please make sure if you have presented all the required 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 Estonian residents.

NB! Treaty tax rate is applicable only in case of Swedish company’s shares purchased directly from the Stockholm Stock Exchange. Treaty tax rate is applied according to the customer’s residency, it does not demand any additional actions from you.

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%.

This information is not to be considered as an investment recommendation or advice or as an invitation to buy or sell securities or make other transactions. The bank does not provide tax or legal advice services.

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Legal and tax information

Norwegian dividend taxation

Process for presenting needed documentation to the bank:

1

2

3

Finnish dividend taxation

Process for presenting needed documentation to the bank:

1

2

3

Taxation of Swedish dividends

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