Germany, France, Italy and Switzerland have been revealed as the biggest hoarders of securities withholding tax over the past year according to new figures released to Euromoney. These countries held on to $875 million owed to foreign investors.
Globally, tax authorities owe investors $6 billion from the past year alone, according to the research of Goal, a software company that works on ways to help custodians reclaim the tax. These four countries account for 15% of the total, says Goal, which has broken down the global figure into individual countries for the first time.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
