Changes in the Finnish law on withholding taxation of dividends paid to holders of nominee registered shares are applicable as of 1 January 2021. As a rule, a withholding tax of 35% will be withheld on Finnish source dividend payments i.e. from dividend payments made on nominee registered shares. In certain situations where your custodian is registered with the Finnish Tax Administration, the withholding may also be smaller.
Any tax withheld in excess can be reclaimed after the year of the dividend payment by submitting a refund application to the Finnish Tax Administration. Please note that Raisio plc cannot process withholding tax reclaims.
A refund application may be submitted to the Finnish Tax Administration (link to form for corporate entities, and link for a form for individuals) also electronically.
You may also be able to receive a refund already during the year of dividend payment via your registered custodian. Please contact your custodian for further information.
Further information on withholding tax reclaims is available from the Tax Administration either:
Dividends paid to Finnish tax resident holders of nominee registered shares may as of 2020 have been subject to withholding of 50% tax prepayment (in Finnish: ennakonpidätys). Any excess tax prepayment will be credited in the normal tax assessment process where the shareholder reports their dividend income to the Finnish Tax Administration.