thanks. Although I need an official answer from FT, because only they really know 
Didn’t realise some of these countries had such high withholding tax rates
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Where can I find EDPR? It’s in Lisbon 20 (PSI20).
I see that EDP is there but not the renewal energies one EDPR.
@Coolsmp Yeah, it is quite a knock for dividend chasing investors. I’ve come to terms with the 15% rate from US dividends so anything more feels like an even harder kick to the ghoulies.
Found this off the internet that can explain a bit more for whoever wants to know more:
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You would think these countries don’t want foreign investment
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I must admit it’s is a bit of a blow. I suppose investing in European stocks as a purely Dividend investor might not be the best way forward.
I hold one German stock and 2 Finnish stocks.
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Withholding is applicable to local residents too. Actually as a non-resident you can claim back withholding in at least one of those countries by directly applying for it.
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This is correct.
However I’d only really recommend trying if you have a large position or many large-ish positions in a single country IE Germany.
The paperwork side of things might put some off so this is why I make that suggestion.
Also since I am a British-Romanian dual national I know what the beuracracy is like in Romania, it wouldn’t entirely surprise me is some other EU countries are top heavy with beuracracy.
Officially speaking: please note I’m not a tax advisor and if unsure please consider speaking with a professional tax adviser.
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You are of course right. In one of those countries the procedure to claim back is actually very very simple. But you will be hit by language, so you need to speak it or have a best friend that does. They even transfer the money to your bank account anywhere in the world - well perhaps not everywhere 
. No cheques Ma’am.
p.s. of course if your dividends exceed £2000 you will still have to pay UK income tax … so you will need to consider whether it is worth claiming back that money and instead just getting appropriate relief so that there is no double taxation going on.
While withholding tax is large on dividends in Belgium, they don’t have a capital gains tax. So if you are resident in Belgium, it’s best to invest in growth stocks.
Happy with the new additions although not all stocks are listed.
Belgian National Bank is very expensive and little traded. Also, through some legal engineering, the government who owns 50% of the shares rakes in most of the dividends.
BPost: it has been on a trajectory. I think it might bounce back now that there has been a change in the leadership.
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On a side note: I hope bpost implode for their €15 admin fees levies on low value non-EU imports that were marked as “gift”. Grrr
BNB - Unsure I want to invest in a government now that I know!
Since this year, all packages outside of the EU have to pay import taxes/VAT. There is no exception anymore for gifts. But the 15 euro admin fee is arbitrary, other couriers also charge ridiculous fees.
yep the admin fee is the immoral part.
Cheaper by dhl to send into BE.
You can avoid German withholding tax by setting up an account with a German broker. They will class you as a tax-alien (tax foreigner is a more accurate translation) and no withholding tax will apply. Slightly cumbersome process but doable.
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It’s not.
Divs paid to Belgian residents are paid without withholding tax , but must be declared in the tax return.
The first €800 paid in dividends per annum is exempt from tax .
Then 30% tax rate is applied on the amount above.
The context here is the OP’s comment which is what I was replying too.
So the point is that local residents do not have this tax free (beyond their local allowances). They too are taxed at the same rate on their local dividends as are non residents.
I get your point though. My point is whatever you call it the dividend tax is paid by local and non local residents. Non local residents in general can reclaim this tax but it might not be worth it given their own local tax regime. In many cases locals have to pay more tax if the foreign withholding is less than the local whatever-you-call-it tax.
Yep, agreed.
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