MENU Dear Clients,
Please be notified of upcoming changes to the settlement of transactions in US, Canada Exchanges. On September 5, 2017, and in accordance with new regulatory requirements, the US financial services industry is implementing the reduction of the standard settlement cycle from trade date plus three business days (T+3) to trade date plus two business days (T+2). This change will impact the settlement of Equities, Corporate Bonds, Municipal Bonds and Unit Investment Trusts. September 5 – First T+2 for all Americas markets.
Please consider this information while planning your work and investment decisions during these days.
Should you have any queries, please contact clients@kfe.ee.
Dear clients,
Please note that on the 04 of July, 2017, due to a national holiday in the U.S stock exchanges will be closed and transactions and settlements in USD will not be processed. More information you may find on our website in Holiday Calendar.
Please consider this information while planning your work and investment decisions during this day.Please note the following working hours of KIT Finance Europe during the upcoming holidays.
22nd-23rd June: due to national holiday in Estonia all non-trade orders and custody instructions will be processed until 14:00 Moscow time.
Brokerage department and client service support will work in the ordinary course. Account statements will be sent as usual.
Should you have any queries, please contact clients@kfe.ee.
Please consider this information while planning your work and investment decisions during these days.
Dear Clients,
Please note that 12th June is a holiday in Russia.
Detailed information may be found on our website in Holiday Calendar .
12th of June transactions in RUB and operations with Russian securities will not be processed. Account statements will be sent in the ordinary course.
Should you have any queries, please contact clients@kfe.ee.
Please consider this information while planning your work and investment decisions during these days.
Dear Clients,
Please note that on 29th of May, 2017, due to a national holiday in the U.S. and the UK, settlements in USD and GBP (security settlements, currency exchange, withdrawal etc.) will not be processed.
Detailed information may be found on our website in Holiday Calendar.
Please consider this information while planning your work and investment decisions during this day.
Dear Clients,
Please note the following working hours during the upcoming holidays:
Please consider this information while planning your work and investment decisions during these days.
All questions regarding non-trade orders please send to settlements@kfe.ee.
With kind regards, KIT Finance Europe
Information for clients with income sourced within Russian Federation.
Dear Clients,
We would like to your bring your attention to rules on withholding tax on income sourced within Russian Federation applicable from 2017.
According to the current tax law, tax agents, who include Russian depositories and brokers, are responsible for calculation and withholding of tax on dividend payments and other forms of income on securities and other financial instruments (including derivative instruments) traded in the Russian Federation and/or issued by Russian issuers.
Unless otherwise agreed by international tax treaties, following tax rates are applicable[i]:
|
Tax residency |
Dividends |
Interest income on bonds (including accrued interest) |
Derivative instruments |
|||
|
Natural person |
Legal entity |
Natural person |
Legal entity |
Natural person |
Legal entity |
|
|
Income beneficiary was not disclosed |
15% |
20% / 30% |
20% |
|||
|
Not confirmed or no international tax treaty[ii] |
15% |
15% |
30% |
20% |
30% |
20% |
|
Russia |
13% |
13% |
13% |
0% |
13% |
0% |
|
Estonia |
15% |
15% |
30% |
20% |
30% |
20% |
|
Latvia |
10% |
10% |
5% / 10% |
5% / 10% |
0% |
0% |
|
Lithuania |
10% |
10% |
10% |
10% |
0% |
0% |
|
Cyprus |
10% |
10% |
0% |
0% |
0% |
0% |
|
Ukraine |
15% |
15% |
10% |
10% |
30% |
20% |
In order to use the tax benefits under the Russian tax law and the double-tax treaties between the Russian Federation and the country of your tax residency, you are required to submit a list of documents in accordance with Appendix 3 of Terms and Conditions for Rendering of Investment Services.
If you are acting on behalf of a third party, the required documents must be submitted for the final beneficiary.
Documents must be submitted electronically by 07.04.2017 via email address clients@kfe.ee or Personal Account with subsequent submission of original documents.
Please note that under the Russian tax law the tax agent will apply the maximum tax rate if the required documents are not submitted.
If you have any queries please do not hesitate to contact our client services department by sending an email to clients@kfe.ee
Thank you for your cooperation.
Sincerely yours,
AS KIT Finance Europe
__________________
[i] The tax rates indicated in this notice are valid as at 31.03.2017. With the current rates and their application is necessary to familiarize themselves in the Tax Code of the Russian Federation and in the relevant agreements on avoidance of double taxation.
[ii] List of countries with double-tax treaties with Russian Federation is available here (https://www.nalog.ru/eng/international_cooperation/dta )
Please note the following working hours during the upcoming holidays:
February 20th - national holiday in the U.S. and Canada. Settlements in USD and CAD (security settlements, currency exchange, withdrawal etc.) will not be processed.
February 22nd – shorter working hours – non-trade orders in RUB and custody instructions with Russian securities will be processed until 15:00 Moscow time;
February 23 - 24th – holidays in Russia. Transactions in RUB will not be processed; Custody instructions with Russian securities will not be processed.
March 7th - – shorter working hours – non-trade orders in RUB and custody instructions with Russian securities will be processed until 15:00 Moscow time;
March 8th – holiday in Russia. Transactions in RUB will not be processed; Custody instructions with Russian securities will not be processed.
Account statements will be sent as usual.
Please note, that Moscow Exchange will work on 24 February 2017.
More information you may find on our website in Holiday Calendar
Please consider this information while planning your work and investment decisions during this day.
All questions regarding non-trade orders please send to settlements@kfe.ee
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