Since Finland's announcement to be the first country to adopt the OECD’s "Treaty Relief and Compliance Enhancement" (TRACE) Implementation Package from 1st January 2021, there has been much excitement in the marketplace about the new regime and the opportunity it presents for financial institutions operating in global markets.
Created to standardise the procedures for providing treaty relief at source, TRACE impacts portfolio investors who may claim treaty benefits for dividends paid on Finnish shares held on nominee-registered accounts. Also functionally very similar to the US Qualified Intermediary & the Irish QI regimes, TRACE relies on the correct taxation of cross border income at source.
In response to this, we're bringing together a panel of experts from: KPMG Luxembourg, SEB, Verohallinto - Finnish Tax Administration, KPMG Finland and BearingPoint to discuss what TRACE means for custodian banks.
If you want to learn more about TRACE and its impact on your institution, our webinar on June 2nd is the perfect way to get started.
Register Free Here: https://www.connectglobalgroup.com/trace
It should be an insightful 60 minutes with various perspectives to ensure a comprehensive discussion that will also provide guidance on the documentation, withholding and reporting obligations under TRACE, as well as lessons learned from dealing with the Finnish Tax Authorities and how TRACE differs from the US Qualified Intermediary regime.
Can't attend the live broadcast? Register anyway to get access to the on-demand post event recording and watch back at your convenience.