Exactement.
For those who want a few more readable details about US PTP withholding changes have a look at NOTIFICATION ON NEW WITHHOLDING TAX ON US PUBLICLY TRADED PARTNERSHIPS (PTP) SECURITIES & TRADING SUSPENSION. The links therein elaborate further.
Just for some additional clarity (thanks @bitflip), the changes here have been made to the US tax code. The knock on effect is that it means that non-US citizens are required to pay a 10% withholding tax on all disposals and distributions received.
The way that this is being implemented and how these taxes need to be reported means that most non-US brokerages will be unable to offer these types of stocks.
I’ve noted some others already sending similar communications to their customers.
I appreciate this isn’t an ideal situation, but we’re really not able to do much in the circumstances.
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Do we need to sell all us holdings or just the ones in the link that bitflip provided… in the list provided on that site.
Like ftai and gaslog…
This just effects publicly traded partnerships @Divergent. This is a small number of securities that we had offered that are going to be subject to additional tax due to changes in the US tax code.
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