Fees applied to Intermediaries - Fiscal services. 1 st December January 20187

Transcription

1 s applied to Intermediaries - Fiscal services 1 st December January 20187

2 CONTENTS 1.0 Italian Financial Transaction Tax (FTT) Management of fiscal declarations and payments 3 Management of fiscal declarations and payments requiring manual intervention by Monte Titoli French Financial Transaction Tax (FTT) Management of fiscal declarations and payments Taxation on US securities Other markets Miscellaneous Note 5 2

3 1.0 Italian Financial Transaction Tax (FTT) 1.1 Management of fiscal declarations and payments Annual fee 1 2, FTT012 Unit fee per each transaction declaration ordinary FTT005 Unit increased fee per each transaction declaration (negative interest rate) FTT005m 1.2 Management of fiscal declarations and payments requiring manual intervention by Monte Titoli Voluntary disclosure about missing declarations and/or late payments, tax credit request FTT006 Declaration after due date / amendment of declaration after due date FTT007 Cancellation or submission of an update of F24 tax form FTT008 Declaration of reimbursement of overpaid taxes by submission of F24 tax form update or in annual tax form FTT French Financial Transaction Tax (FTT) 2.1 Management of fiscal declarations and payments Monte Titoli applies fees for the forwarding to Euroclear France of fiscal declarations and payment of the related amounts Unit fee per each transaction declared within fiscal declarations which are validated by the deadline set by Monte Titoli 0.10 FTT001 Unit fee per each transaction declared within fiscal declarations which are validated later than the deadline set by Monte Titoli 0.10 FTT002 Administrative intervention for the cancellation of a declaration FTT003 Recovery of possible penalties and/or passive interest for transactions declared later than the imposed deadline Variable (as relevant) FTT004 Administrative intervention for recovery of penalties/passive interest FTT011 1 effective from 1 August 2017; for the year 2017 it is applied in the August invoice on a monthly pro-rata basis 2 till 31 July 2017 the fee applied amounts to effective from 1 July 2017; it is applied in substitution of the ordinary unit fee in case of application of negative interests on funds credited to Monte Titoli by the participants for the tax payment 3

4 3.0 Taxation on US securities s applied to each payment transaction, ISIN and securities account or beneficial owner Payment of proceeds subject to withholding tax at source SF0058 Adjustment in the tax rate applicable to payment of proceeds on US securities SF0061 applicable to tax certification Registration of each tax certification related to the beneficial owner Releases on income collection certifications by Monte Titoli SF Other markets s applied to each payment transaction, ISIN and beneficial owner Payment of proceeds subject to withholding tax at source SF0063 Standard refund procedure for the deduction of tax, when the amount paid overcomes the applicable one SF0059 Quick/immediate refund procedure for the deduction of tax after payment 4 date, when the amount paid overcomes the applicable one SF0060 Release of income collection certifications SF Miscellaneous Out of pocket (fiscal service.) Variable (as relevant) SF Included in the custody fees for the securities of the Spanish market 4

5 6.0 Note The fee schedule is structured to assist clients in easily reconciling their invoices. A specific reference code identifies each fee allowing clients to quickly and easily check the invoiced amounts. Invoices are denominated and debited in Euro and follow the VAT in the case established by law. s are calculated and invoiced monthly, based on volumes recorded during the relevant month, and debited with a value date of the last day of the month following invoice issue through SETIF procedure except for the following Italian FTT fees which are invoiced as follows: - the annual fee: at the beginning of each year and, in case of adhesion during the year, in the month of adhesion on a monthly prorata basis; in case of withdrawal during the year it is due entirely - the fee for the transaction declaration: at the end of each quarter and have to be paid by the last working day of the month following the reference month of invoice through wire transfer. 5

6 Contact Details Address: Piazza Affari, Milano