GlobeTax Announces Support of New Tax Reclaim Process in Czech Republic

GlobeTax, the world’s leading provider of tax relief, recovery and reporting services to the financial services and investment community announces it is expanding services in support of a new tax reclaim process in the Czech Republic.

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New York, NY (PRWEB) April 25, 2014

Globe Tax Services, Inc. (GlobeTax), the world’s leading provider of tax relief, recovery and reporting services to the financial services and investment community announces it 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. Details on eligibility, documentation, limitations, fees, charges and deadlines are included in the Important Notice.

Important Notices for current and past dividend events with relief or reclaim processes can be found on GlobeTax’s DR News RSS feed: http://www.globetax.com/postedRSS/DR_News.xml

About GlobeTax

GlobeTax is the world’s leading provider of tax relief, recovery, research and information reporting services for financial institutions and their cross border investor clients. The firm provides the market infrastructure for all claims on American Depositary Receipts (ADRs). GlobeTax researches tax treaties in over 230 jurisdictions in order to provide tax recovery for clients resident in over 40 countries. Clients include all types of beneficial owners, custodians, prime brokers, CSDs, depositaries and withholding agents. The firm, founded in 1992, is based in New York, with offices in London, Hong Kong, Madrid, Milan, and Sydney.

For more information, contact:

MediaRoom(at)GlobeTax(dot)com


Contact

  • Len Lipton
    GLOBETAX SERVICES
    +1 (212) 747-9100
    Email