Our Expert Blogs
Introduction: similar exposures, very different WHT outcomes Exchange traded funds (ETFs) and mutual funds often hold the same shares. Both collect dividends. Both suffer dividend withholding tax (WHT) on cross-border income. Yet the way dividend WHT lands in each vehicle is very different. The result is different tax drag, different tracking error and very different […]
Portugal is no longer a “theory-only” market for European Union funds that suffered dividend withholding tax. Case law is hardening into something operational teams can use. The Portuguese Supreme Administrative Court (Supremo Tribunal Administrativo) has reinforced the discrimination point and, in 2025, tightened the cash economics through clearer interest rules. For asset managers, that shift […]
Reclaiming WHT from Turkey is no longer a back-office hygiene task. It is now a yield-protection strategy. Turkey remains a compelling market, but its tax and policy environment has become unpredictable. Dividend withholding tax has changed, treaties interact unevenly, and political signals continue to increase risk. This article sets out a pragmatic playbook for dividend […]
The new reality behind a familiar 0% dividend WHT headline The United Arab Emirates applies 0% withholding tax on most outbound payments, including dividends. That 0% dividend WHT headline still attracts holding companies and regional treasury centres. A broad double tax treaty network reinforces this position and often reduces foreign dividend withholding tax into the […]
Institutional investors cannot afford to let Irish dividend cash sit in limbo. If you hold Irish-source positions, the operational split between a quick refund and a standard reclaim dictates both your liquidity profile and your audit exposure. This article sets out a pragmatic, audit-defensible way to hit the Ireland DWT quick refund window and avoid […]
Dividend WHT on African equities is moving into enforcement mode Dividend withholding tax, or dividend WHT, on African equities is no longer a routine back-office deduction. Governments want higher, more stable revenues and closer alignment with Organisation for Economic Co-operation and Development standards. They now see dividend tax as a direct way to test treaty […]
In 2021 it implemented the Organisation for Economic Co-operation and Development (OECD) Treaty Relief and Compliance Enhancement (TRACE) model for dividends on listed shares held through nominee accounts. Its rules created a public register of authorised intermediaries, set clear duties, and required annual, structured reporting. The design put liability on the intermediary that grants treaty […]
South Korea is a high-scrutiny market for dividend withholding tax. The statutory rate is 20 percent, plus a local surtax of 10 percent on the withholding. That produces an effective 22 percent where no treaty relief applies. Treaty use without triggering substance challenges is possible and often attractive. It is not automatic, and the evidentiary […]
Investors love a crisp story. Here it is: The United Arab Emirates applies a domestic withholding tax rate of zero per cent on cross-border dividends. That makes dividend WHT a non-issue for outbound payments from the UAE. Saudi Arabia applies a domestic dividend WHT of five per cent to non-residents, with treaty adjustments that mostly […]
Everyone is selling a silver bullet. There isn’t one. The European Union’s Faster and Safer Relief of Excess Withholding Taxes Directive is a real step forward for dividend withholding tax, but relief at source will not magically appear in every market on day one. The operating reality will be a mixed economy: some markets will […]