The tax treatment for a client is determined based on individual circumstances and can be subject to changes (for example, if a tax treaty is amended).
Canadian dividends are settled at a 25% tax rate by default. If the client completes and returns a treaty statement to Saxo Bank, a rate of 15% will be applied after processing. You can find the “Treaty Statement Canada” form here.
While US dividends are normally settled at a tax rate of 30%, an international tax treaty between the EU and the United States allows Saxo Bank to settle its clients at 15%. This is due to Saxo Bank’s Qualified Intermediary (QI) status. Legal entities that receive US dividends must therefore sign a treaty statement. You can find the “Treaty Statement US” form here.
It is your responsibility as the investment firm to send the completed and signed Treaty Statement to Saxo Bank on behalf of the end-client. If the form is not completed, it is not possible to have corrections made with retroactive effect.