RNS Number:1876E
Banesto 'Banco Espanol de Credito'
20 September 2007
Notices by
BANESTO
With Respect to its Extendible Short Term Notes
Initially Due on April 18, 2008 and with a Final Maturity Date
of April 18, 2012
Bearing the Original CUSIP: 059878AS7
Record Date: October 3, 2007
Recommended Deadline: October 12, 2007
Interest Payment Date: October 18, 2007
Issuer notice regarding Spanish Beginning on October 4, 2007 (8:00 a.m. EST) and continuing until October 12, 2007
withholding tax requirements. (8:00 p.m. EST), in order to secure relief-at-source from Spanish withholding tax,
DTC participants must (i) enter into the Acupay System information about beneficial
owners who are exempt from Spanish Non-Resident Income Tax ("NRIT"), (ii) prepare
and send Spanish tax certificates with respect to such clients and (iii) make
corresponding DTC EDS elections. These steps should be undertaken in accordance
with the procedures laid out in this DTC Important Notice.
Failure to do so could result in withholding of 18% of the income that would be
otherwise received.
Issuer Notice of Extension Election Holders of the notes are invited to transmit elections to extend the maturity of
Period the notes to November 11, 2008 . The election period will begin on October 4, 2007
at 9:00 a.m.
Elections to extend the maturity date of the notes must be received by the
custodian bank or broker holding the notes in sufficient time so that information
relating to such extensions can be entered by such custodian bank or broker in both
the Acupay System and also in DTC's APUT system by the Recommended Deadline, or
under special circumstances until 5:00 p.m. New York City time on October 17,
2007). Please check with your custodian bank or broker to learn of any particular
deadlines they may impose to receive such elections.
A holder who does not elect to extend the maturity of his notes will be subject to
a mandatory exchange of his notes into non-extendible notes due . Such
non-extendible notes bearing CUSIP 059878AB4 would be delivered on October 18,
2007.
Information regarding the timing of the current election period is set forth below:
Interest Payment Date Maturity, if Extended Maturity, if NOT Extended
October 18, 2007 November 11, 2008 August 11, 2008
Detailed Operational Procedures and Guidelines
regarding
BANESTO
With Respect to its Extendible Short Term Notes
Initially Due on April 18, 2008 and with a Final Maturity Date of April 18, 2012
Background information about Pursuant to Law 13/1985 (as amended by Law 19/2003 and Law 23/2005) and Royal
Spanish tax law requirements Decree 2281/1998 (as amended by Royal Decree 1778/2004), income derived from the
above securities by a Non-Spanish resident holder who does not act with respect to
such securities through a permanent establishment in Spain or a Spanish resident
corporation will not be subject either to the 18% Non-Resident Income Tax (NRIT) in
Spain or to a 18% withholding rate on account of the Spanish Corporate Income Tax
unless the non-resident holder (i) derives the income through a "tax haven"
territory (as defined in Royal Decree 1080/1991 of 5 July 1991) or (ii) fails to
comply with the relevant tax residency certification procedures as described below.
Should a U.S.-based DTC participant hold securities on behalf of an institution
located in a tax haven country, who is then holding the securities on behalf of an
otherwise entitled beneficial owner (such as a U.S. resident), the beneficial owner
would not be entitled to receive exemption from withholding tax on those
securities. Please refer to Annex A for a list of tax haven countries and
territories.
Participants requesting exemption from Spanish NRIT via DTC's Elective Dividend
Service (EDS) are required to provide beneficial owner tax information in support
of their DTC EDS elections. The Issuer, the Guarantor and the Issuing and Paying
Agent have arranged certain procedures with DTC and Acupay System to facilitate the
collection from participants of such information concerning the identity and
residence of the beneficial owners of the securities. Failure to (i) certify via
EDS, (ii) provide beneficial owner information via Acupay, or (iii) to follow the
required procedures, will result in 18% withholding from the interest payment.
Summary of steps you will need to 1. Register to use the Acupay System.
take 2. Transmit to your clients the Issuer's Notice of Extension Election Period.
Solicit your clients' response to the notice.
Details on each step follow below. 3. Upload beneficial owner information into Acupay System.
4. Print, sign and send Spanish tax certificates.
5. Make "DTC APUT" instruction(s) recapping your clients' extension elections.
6. Make summary tax election via DTC's EDS.
1.Register to use the Acupay System DTC participants must visit the Acupay System website at www.acupaysystem.com and
register (i) their institution, (ii) one or more authorized employees who will be
responsible for making tax certifications on the behalf of the DTC participant and
(iii) financial intermediaries (i.e. "downstream correspondents") for which the
DTC participants provide clearing arrangements on an "omnibus" basis.
1.A. Already registered? Then move If the participant, its downstream correspondents, or members of their respective
on to Step 2! teams, were previously registered to use the Acupay System (for this or any other
securities issue), there is no need to register again - their existing login
details should still work
1.B. If you're not registered...but DTC participants that are located in OECD (Organization for Economic Co-operation
you're in an OECD Country...you're and Development) countries are permitted to register in the Acupay System and to
invited! participate in the "tax relief-at-source" procedures including the submission of
beneficial owner extension information. Please refer to Annex B for a list of OECD
Countries.
1.C. Neither registered, nor in an DTC participants that are located in a country with which Spain has entered into a
OECD Country?...maybe you're in a treaty for the avoidance of double taxation (Tax Treaty Countries) are permitted to
"Tax Treaty" country...if so, register in the Acupay System and to participate in the tax relief-at-source
you're invited! procedures including the submission of beneficial owner extension information.
Please refer to Annex C for a list of Tax Treaty Countries.
1.D. Not registered and not located DTC participants or their downstream correspondents which are not located in OECD
in an OECD or Tax Treaty Country? (Organisation for Economic Co-operation and Development) Countries or in a country
with which Spain has entered into a Treaty for the Avoidance of Double Taxation
(Tax Treaty Countries) will be allowed to register in the Acupay System for the
purpose of submitting beneficial owner extension information but will not be
eligible to participate in the "Relief-at-Source Procedures". Such entities may,
however, follow the "Quick Refund Procedures" discussed below. Please refer to
Annex B and C respectively for a list of OECD Countries and Tax Treaty Countries.
DTC participants and downstream correspondents located in tax haven countries are
allowed to register in the Acupay System for the purpose of submitting beneficial
owner extension information but are not eligible to use the Acupay System to submit
beneficial owner tax information, nor to use DTC's EDS for Spain.
1.E. If you "clear" for other IMPORTANT: Participants that clear for downstream correspondents on an omnibus
firms, please register them to use basis are subject to revised operational requirements regarding entering beneficial
Acupay! owner information into the Acupay System. To comply with Spanish tax regulations
and "Know Your Customer" policies mandated by the USA PATRIOT Act, Participants may
not enter beneficial owner information into the Acupay System on behalf of their
omnibus downstream correspondents. Omnibus downstream correspondents are required
to enter their beneficial owner client information directly and Participants must
confirm their downstream correspondents' aggregate omnibus positions. Please read
the procedures in 3.C below carefully.
2. Transmit to your clients the BANESTO requests that you transmit to your clients the Notice of Extension Election
Issuer's Notice of Extension Period. BANESTO will reimburse participants for their reasonable costs in
Election Period. Solicit your transmitting the notice. The notice is dated September 11, 2007.
clients' response to the notice.
BANESTO also requests that you solicit responses from your clients who are the
beneficial owners. Once your clients provide you with their response, you should
promptly enter their response in both the Acupay System and DTC's APUT system. This
should be done as described in Steps 3 and 5. Don't wait to "batch-together"
multiple client responses - Keep your entries current!
The Issuer's notice indicates that holders of the notes are invited to elect to
extend the maturity of their notes. In the absence of any response, your clients'
notes will be mandatorily exchanged with notes that mature on August 11, 2008 .
However, if your clients elect to extend the maturity date of the notes, the
maturity of their notes will be extended to November 11, 2008. PLEASE NOTE:
Extension election procedures like these will take place quarterly until April
2011.
3. Enter beneficial owner As soon as you get a response from your clients (i.e. the beneficial owners) on
Information in the Acupay System whether or not they wish to extend the maturity of their notes, you should
before October 18, 2007 (9:45:00 immediately enter such information into the Acupay System.
AM)
For reasons that will become clearer as you read this instruction, it is essential
that this information be entered FIRST before any entries are made in DTC's APUT or
EDS systems.
It is important that this step be completed by the Recommended Deadline of October
12, 2007 8:00 p.m. EST. However, in the case of late settling trades additional
entries can be made until October 17, 2007 at 8:00 p.m. In the case of trades
settling on the Interest Payment Date (October 18, 2007) the Acupay System will be
available on that day until 9:45 a.m. EST to permit late entry of information (or
changes to previously entered information).
3.A. Five types of information This is the information you will need to enter about each beneficial owner: Some
needed about each BO. information is required, while other information can be provided at your option (to
help you "tie-back" entries to your firm's records.
Mandatory Information
1. Name of the investor (not the name of the external fund manager or the BO's
custodian bank - instead, you should supply the name of the entity which
beneficially owns the security).
2. Country of residence of the beneficial owner.
3. Amount of notes to be held on Interest Payment Date by the beneficial owner (you
can enter the amount of securities held on the day you enter the information,
but remember, please update that amount if the client's position changes
between then and the Interest Payment Date. The notes can be identified in the
Acupay System using either their original CUSIP or the Contra CUSIP associated
with extension elections.
4. Extension Amount. - The amount of the BO's notes for which you have received a
request from the investor to extend the maturity until November 11, 2008.
5. For Spanish Corporate Investors Only - the beneficial owner's Street Address and
Tax Identification Number.
Optional Information
1. Tax ID (This is mandatory for investors who are Spanish corporations).
2. Account Number of the beneficial owner at your custodian bank or brokerage.
3. Client address and telephone number. (Please remember that addresses are
mandatory for Spanish corporate investors).
3.B. Three Acupay methods are These are the three methods. Complete details, and "help" regarding each method are
available for entering beneficial available on the Acupay website.
owner details.
1. One-by-One Method - participants with a small number of beneficial owners may
use this method to separately enter individual beneficial owner information.
2. Bulk "Cut-and-paste" Method - participants with a larger number of clients can
use this method to (i) download client data from their internal systems, (ii)
paste this data into a formatted Excel spreadsheet and (iii) paste the
spreadsheet into a secure Acupay "upload portal".
3. Renew Previous Submissions Method-Through a single "push of a button" a
participant can confirm that previous beneficial owners (and their related
information), which were submitted for a previous payment period, are still
valid for the current period.
3.C. Confirm total holdings of DTC participants that provide clearing arrangements for downstream correspondents,
downstream omnibus clearing irrespective of whether such downstream correspondents are Qualified Intermediaries
clients. (as described by the US IRS in Revenue Procedure 2000-12 found in Cumulative
Bulletin 2000-1 of Internal Revenue Bulletin 2000-4) should:
i. Register their downstream correspondents in the Acupay System by entering the
details of such downstream correspondents directly into the "Add a New Registered
Downstream Correspondent" section of their Acupay System account, or by allowing
such downstream correspondents to register themselves by providing them with the
Acupay Registration Code found within the "View Downstream Correspondent
Registrations" section of the Acupay System.
* Once registered the downstream correspondents will be able to process Acupay tax
relief-at-source client certifications for their own clients. Since downstream
correspondents are required to "know their clients", it is logical that they are
the entities, which should enter client information regarding their clients into
the Acupay System - not the upstream clearer (which is a DTC participant).
ii. Confirm the downstream correspondent's omnibus position. The DTC participant
should confirm the aggregate position in the securities held on the behalf of each
of its downstream correspondents. This confirmation is made ONLY with regard to the
aggregate omnibus amount held by the downstream correspondents, NOT with regard to
the identity or details of the end investor clients of the downstream
correspondents. These aggregate position confirmations should be kept updated
through 9:45 a.m. on the Interest Payment Date (just like all other information
entered in the Acupay System).
iii. Make the necessary EDS elections, to match the total amount of Acupay
certifications made by the downstream correspondent(s).
3.D. Update Acupay data as The Recommended Deadline is October 12, 2007. However, it is the responsibility of
necessary until the Interest DTC participants and their correspondents to update beneficial owner information
Payment Date. entered in the Acupay System as necessary to keep it in synch with clients' actual
positions. Updating must continue until 9:45 a.m. on October 18, 2007 (the Interest
Payment Date).
4. Print out, review, sign and send Once beneficial owner information has been entered into the Acupay System, the
tax certificates. system will produce, as applicable, Spanish tax certificates (I, II or III) for the
interest income to be received by the beneficial owner. These certificates must be
reviewed, printed, signed (if accurate), scanned and emailed to
certify@acupaysytem.com or faxed to Acupay at +1-646-383-9489 or +44-207-067-8453.
In the event that a beneficial owner has declined to extend the maturity of its
notes the Acupay System will produce a second set of tax certificates (but only if
non-extension will produce a taxable gain). This second set of certificates will
need to be printed, reviewed, signed (if accurate) and sent in addition to the
interest income tax certificates.
4.A. Only use official Acupay tax Participants MUST use the tax certificates that are generated by the Acupay System
certificates (showing the official Acupay bar code) as no other form of tax certificate will be
accepted. Acupay submissions (including beneficial owner information) will not be
processed until Acupay has received signed tax certificates, as described above.
4.B. Keep certificates accurate If any changes occur to the facts set out in tax certificates (between the date of
until October 18, 2007. submission and the Interest Payment Date), participants are required to prepare and
submit replacement certificates reflecting such changes.
Care should be employed to assure that information in the tax certificates is kept
"in-synch" with related summary information entered into the DTC APUT system and
also in DTC EDS. All three "platforms" should be kept in-synch.
4.C. By November 15, 2007, original After the Interest Payment Date participants should send, via post or courier to
paper versions should be received Acupay the original, signed copies of any tax certificates I, II and III that were
in London previously faxed or emailed as described above. These original paper signed tax
certificates MUST be received by Acupay by no later than 5:00 p.m. London time on
November 15, 2007 at the following address:
Acupay System LLC
Certifications
Attn: Blanca Flores
28 Throgmorton St - First Floor
London EC2N 2AN
United Kingdom Telephone: +44-207-382-0340
PLEASE NOTE: A participant that obtains favorable tax treatment through these tax
relief-at-source procedures and fails to submit the original physical certificates
as described above, will be prohibited by the Issuer from using the procedure to
obtain favorable tax treatment for future payments. In such event, the participant
will receive any future interest payment on its entire position net of 18% NRIT
withholding tax and relief will need to be obtained directly from the Spanish tax
authorities by following the standard refund procedure established by Spanish tax
law.
5. Enter "DTC APUT" instruction(s) The DTC APUT system will be available for participants to enter "summary elections"
recapping all Extension elections for all of the beneficial owners for whom extension elections have been received
and entered into the Acupay System by the participant and its downstream
correspondents.
APUT entries can be made commencing on the morning of October 4, 2007.
5.A. Try to complete APUT entries Both APUT and EDS will operate during parallel time periods. For reasons that will
before making EDS entries. be explained at step "6" it is important that all APUT entries be completed before
EDS entries. This relates to the impact of shifts from target CUSIPs to Contra
CUSIPs occurring during the APUT process. It is important that all EDS entries be
made using Contra's (if the related notes will "reside" in the Contra by Interest
Payment Date). Therefore, securities being "elected" for extension should be moved
into their Contra's first before EDS entries are attempted (assuming that notes are
being both elected for extension and requested for tax relief).
Both DTC systems will open on October 4, 2007. And, the Recommended Deadline for
both systems is October 12, 2007. Of course, the APUT automated system routinely
"closes" at 12:00 p.m. while the EDS automated system operates until 8:00 p.m.
5.B. Late settlement APUT entries The APUT system will be open for late entries and adjustments after the Recommended
and adjustments. Deadline, as follows:
* Until 12:00 noon each New York business day until October 17, 2007 for
automated entries. This is called the "APUT Automated Deadline".
* After 12:00 noon and until 5:00 p.m. via manual requests to DTC staff until
October 17, 2007.
We wish to remind you that entries in APUT must generally be followed by entries in
DTC's EDS. Therefore late entries in APUT will require close and careful
coordination with EDS in order to assure proper processing of tax relief.
5.C. Keep APUT in-synch with ACUPAY APUT entries must be kept in alignment with corresponding beneficial owner data
entered in the Acupay System (and related Spanish tax certificates).
6. Make summary tax elections via Beginning at 9 a.m. on October 4, 2007 and continuing until 8 p.m. New York time on
DTC's EDS. October 12, 2007 (the Recommended Deadline), DTC participants must make an election
via DTC EDS summarizing the aggregate positions that they reported via Acupay (and
certified on Spanish tax certificates) as being exempt from Spanish withholding
tax. The DTC EDS operates daily from 8:00 a.m. until 8:00 p.m.
6.A. Use the Contra-CUSIP obtained Historically, close to 100% of all holders of extendible notes elect to extend
from APUT operation for related EDS their notes. And, "elections to extend" these notes necessitate the undertaking of
elections. APUT instructions by DTC participants - with a resultant movement of the securities
from the original "target CUSIP" into a temporary Contra CUSIP.
The "elected" notes will remain in the Contra CUSIP until late in the afternoon on
the Interest Payment Date, after interest payments have been allocated to DTC
participants. It is only after payment has been effected that "extended" notes are
returned to the original CUSIP. Therefore, it is clear that interest will be paid
on Interest Payment Date to the holders of the following CUSIPs:
* Contra CUSIPs with respect to all holders who had elected to extend their
notes.
* Original CUSIPs with respect to only those holders who declined to extend
their notes.
In order for your clients who are exempt from the operation of Spanish withholding
tax to be paid WITHOUT withholding, it is absolutely necessary that a DTC EDS
election be made with respect to the CUSIP that will actually be paid on the
Interest Payment Date.
Therefore, it is important that whomever on the staff of the DTC participant who
performs the DTC EDS entry be aware of the previous work "done" by the team
responsible for APUT instructions.
To summarize: For notes that have been elected to be extended via APUT, EDS
instructions must be entered in the Contra CUSIP. For notes that have not been
elected to be extended via APUT, EDS instructions must be entered in the Original
CUSIP.
Finally, both EDS and APUT need to be kept in alignment with beneficial owner
information and certifications entered via Acupay.
PLEASE NOTE:
In order for the DTC participant to receive interest on the Interest Payment Date
free of NRIT withholding (for further credit to their clients who are exempt from
Spanish NRIT) the aggregate amounts certified through the Acupay System and those
elected through DTC EDS must be in synch. It is the responsibility of each
participant to ensure that the principal amount of notes, which they certify via
Acupay, is equal to the principal amount of notes for which they have made DTC EDS
elections at the exempt rate. Data introduced in both DTC EDS and Acupay may be
modified by the participant (in both systems) until 8 p.m. New York time on October
18, 2007.
6.B. Finish EDS entries last. EDS entries ought to be made last....after Acupay and APUT.
Of course, entries made through all three systems need to be kept updated and
accurate until the morning of the Interest Payment Date.
6.C. Last minute manual EDS DTC participants whose Acupay certifications and EDS elections are out of alignment
adjustments on Payment Date. on the morning of the Interest Payment Date may request that DTC manually modify
EDS elections to bring them into alignment by sending an EDS change request to DTC
via email at SBollers@DTCC.com no later than 9:45 a.m. New York time on October 18,
2007, with a copy to MMejia@DTCC.com, ROlivari@DTCC.com; rneves@DTCC.COM AND
EDS@acupaysystem.com. Likewise, it is the responsibility of DTC participants and
their correspondents to update beneficial owner information entered in the Acupay
System as necessary to keep it in synch with clients' actual positions. Updating
must continue until 9:45 a.m. New York time on October 18, 2007.
6.D. All systems must be in-synch. DTC participants must ensure that EDS elections entered into DTC and beneficial
owner data entered into the Acupay System are synchronized and updated to reflect
any changes to beneficial ownership or DTC positions occurring prior to 9:45 a.m.
on October 18, 2007 (the Interest Payment Date).
The failure to correct any inconsistency between (i) DTC EDS elections and tax
certificates and (ii) if an exchange operation is calculated to produce taxable
income, beneficial owner Extension Information and DTC Extension elections
(including any misalignment between the total par amount of notes to be exchanged
for Non-Extendible notes by any DTC participant account (arising from the absence
of timely DTC Extension elections) and the total par amount of notes to be
exchanged for Non-Extendible notes determined via the related beneficial owner
Extension Information supplied by the DTC participant via the Acupay System),
including the failure to fax or send PDF copies of new or amended tax certificates
by 9:45 a.m. on the relevant Interest Payment Date (or if Acupay does not confirm
receipt of a communication of such correction by 9:45 a.m. on the relevant Interest
Payment Date) will result in the payments in respect of the entirety of such
participant's position being made net of Spanish withholding taxes.
Notwithstanding any such error or inconsistency, all DTC Extension elections (and
revocations of such extension elections) will be accepted by Acupay and will not
result in an exchange of notes for Non-Extendible notes if such elections are made
on a timely basis and in an amount equal to or less than the relevant participant's
aggregate DTC position in the notes at the date and time submitted.
7. Quick Refund procedure. Beneficial owners who received interest net of 18% NRIT withholding due to a
misalignment of their EDS elections, APUT instructions and Acupay tax
certifications may qualify for a refund through the Quick Refund Procedure. To
utilize this procedure, participants must have submitted valid EDS elections during
the tax relief-at-source EDS "window". Relief may be obtained only up to the amount
of securities for which an EDS election was properly received by DTC as of 9:45
a.m. on October 18, 2007. Refunds through the Quick Refund Procedure are not
available for any position that was not previously elected for gross (exempt)
treatment via EDS on or before 9:45 a.m. on the Interest Payment Date. Participants
may use the Acupay System to request relief through the Quick Refund Procedures on
behalf of their clients beginning October 19, 2007 and continuing until November 9,
2007 at 5:00 p.m. New York time.
8. Direct refund from Spain. If participants have not certified for any reason through the Relief at Source or
Quick Refund Procedure and have received unfavorable tax treatment, eligible
investors may request a tax refund from the Spanish tax authorities by following
the Direct Refund procedure established by Spanish tax law.
9. DTC participants are responsible By submitting EDS elections and Acupay submissions and tax certifications DTC
for their submissions. participants agree that they will indemnify BANESTO and its agents for any
liability which they may incur as a result of reliance upon such information
provided by such participant. The DTC participant also agrees to return any funds
erroneously received (including any interest, penalties and additions to tax
thereon) arising from its EDS elections and Acupay certifications.
10. Where to get additional Questions regarding the APUT process should be directed to David Cybroski of DTC's
information. Reorganization Department at (212) 855- 5137.
Questions regarding the EDS process should be directed to Sean Bollers or Larry
Bottiglieri of DTC's International Services team at (212) 855-4706 or 4386
respectively.
General questions regarding these operational procedures and the related Spanish
tax laws, as well as the specific Acupay informational procedures identified here
(or the use of the Acupay System) should be directed to Belinda Castillo at
+1-212-422-1222 or Blanca Flores at +44-207-382-0340 or by emailing
info@acupaysystem.com.
11. Postscript: Tax treatment of For the purpose of completeness we wish to point out that Spanish tax law provides
gains from non-extension. for the operation of tax withholding procedures on the gains (if any) obtained by
investors who do not extend their notes (and thereafter exchange their notes for
non-extendible notes). Although such gains arising out of such an exchange are
theoretically possible, in practice they are highly unlikely to occur.
However, in the unlikely event that such gains were to arise, then the Acupay
System would announce the existence of such gains and the related requirement for
participants to participate in the operation of certain special withholding tax
procedures. Such procedures embrace steps intended to assure either (i) the
collection of required information certifying the exemption of investors from the
operation of such tax or (ii) withholding the appropriate amount of such tax from
investors (via their DTC participant). These steps are laid out in Annex A to the
Offering Memorandum of BANESTO dated March 23, 2007 which can be downloaded from
www.acupaysystem.com/banesto/offeringmemo.
Annex A
Tax-Haven Countries & Territories
Andorra, Principality of Jamaica Monaco, Principality of
Anguila, The Island of Jersey, Channel Islands Montserrat
Antigua and Barbuda, Islands of Jordan, Hashemite Kingdom of Nauru, Republic of
Aruba Lebanon, Republic of Netherlands Antilles
Bahamas, The Liberia, Republic of Northern Mariana Islands
Bahrain, Kingdom of Liechtenstein, Principality of Oman, Sultanate of
Barbados, The Island Luxembourg, Grand Duchy of (but only as Panama, Republic of
regards to the income received by the
Bermuda Islands, The companies referred to in paragraph 1 of Saint Lucia
the Protocol annexed to the Avoidance
Brunei, Sultanate of of Double Taxation Treaty, dated 3rd Saint Vincent and the Grenadines
June 1986, entered into by Spain and
Cayman Islands Luxembourg i.e., those holding San Marino, Republic of
companies as defined by Luxembourg Law
Cook Islands, The of July 31, 1929 and Luxembourg Grand Seychelles, Republic of
Ducal Decree of December 17, 1938)
Cyprus, Republic of Singapore, Republic of
Macao
Dominica, The Republic of Solomon Islands
Mauritius
Falkland Islands Trinidad and Tobago, Republic of
Fiji Islands Turks and Caicos Islands
Gibraltar Vanuatu, Republic of
Grenada Virgin Islands, British
Guernsey, Channel Islands Virgin Islands, of the United States
Hong Kong
Isle of Man
Annex B
OECD Countries
Australia Hungary Norway
Austria Iceland Poland
Belgium Ireland Portugal
Canada Italy Slovakia
Czech Republic Japan Spain
Denmark Korea, Republic of Sweden
Finland Luxembourg Switzerland
France Mexico Turkey
Germany Netherlands United Kingdom
Greece New Zealand United States
Annex C
Spanish Tax Treaty Countries
Algeria Georgia* Netherlands
Argentina Germany New Zealand
Armenia* Greece Norway
Australia Hungary Philippines
Austria Iceland Poland
Azerbaijan* India Portugal
Belarus* Indonesia Romania
Belgium Iran, Islamic Republic of Russia*
Bolivia Ireland Slovakia
Brazil Israel Slovenia
Bulgaria Italy Sweden
Canada Japan Switzerland
Chile Kazakhstan* Tajikistan*
China Korea, Republic of Thailand
Croatia Kyrgyzstan* Tunisia
Cuba Latvia* Turkey
Czech Republic Lithuania* Turkmenistan*
Denmark Luxembourg Ukraine*
Ecuador Macedonia, The Former Yugoslav Republic United Arab Emirates
of
Egypt United Kingdom
Malta, Republic of
Estonia* United States
Mexico
Finland Uzbekistan*
Moldova, Republic of*
France Venezuela
Morocco
Vietnam
* The countries of the former USSR are covered together under treaty (Russia
covered under separate treaty).
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCURVARBARKUAR
Cred Ag Co 29 (LSE:42ES)
Historical Stock Chart
From May 2024 to Jun 2024
Cred Ag Co 29 (LSE:42ES)
Historical Stock Chart
From Jun 2023 to Jun 2024
