Xstrata Plc Cash Dividend
1. How much withholding tax is applied to my Xstrata Cash Dividend?
Dividends Issued Since May 2012 - The Company have announced that any dividends released since May 2012 will be subject to 0% withholding tax. This change has been decided following approval at the company's Annual General Meeting in May 2012. All future dividend payments paid out of share premium (capital contribution reserve) will not be subject to Swiss withholding tax; therefore all dividends after this date are taxed at 0%.
More information on the changes to withholding tax can be found on the dividend page of the company website:
Dividends Issued Prior to May 2012 - Prior to May 2012 any dividend issued by Xstrata plc was subject to Swiss federal withholding tax rate of 35%. The withholding tax was withheld by the company from the gross distribution and paid directly to the Swiss Federal Tax Administration.
2. Am I able to reclaim the Swiss tax which has been applied to my dividend?
A full or partial refund of withholding tax may be available in certain circumstances, depending on your place of residence, (beneficial) ownership, related refund applications and evidence provided. The current double tax treaty between the United Kingdom and Switzerland may entitle you to reclaim the withholding tax applied to your dividend for all dividends paid before May 2012, after this all Xstrata dividends will be paid at 0%. UK resident shareholders that are eligible for double taxation treaty benefits may reclaim 4/7ths of the 35% Withholding Tax, leaving a net Swiss tax cost of 15%. If you have any queries regarding your tax position, please contact a professional tax advisor.
3. How can I reclaim the Swiss tax applied to my dividend?
If you are eligible and wish to reclaim the withholding tax applied to your Xstrata dividend payment you can request a R189 form from us. You can contact us by telephoning 0800 279 6551 / 0141 352 3909 and also by secure email by logging into your account and selecting Contact Us. In order for you to reclaim the above tax we will provide a document with the relevant information and return it to you, in turn you will be responsible for reclaiming the withholding tax from the relevant tax office.