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BP p.l.c. Message Board

  • dlhild Oct 7, 2013 1:56 PM Flag

    dividend question

    what is the yield after British taxes are taken out?

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    • reference to your question.........." what is the yield after British taxes are taken out? "

      Assuming that you are a US Resident, believe it or not...The Yield is the same! on..................No Foreign Tax W/H on BP ADS Dividends after May 1, 2003 per US and UK Tax Treaty -Conventions...

      Right from BP`s Website.............Take the time and do your own Due Diligence. How would you know
      the answer is correct, unless you verified it yourself! Right!

      Dividend policy and FAQs....

      Will dividends paid on BP ADSs qualify as ‘qualified dividend income’ under the Jobs & Growth Tax Relief Reconciliation Act of 2003 ('Act')?

      In general, BP is a Qualified Foreign Corporation under the requirements of the Act, i.e. a corporation that is eligible for the benefits under a comprehensive income tax treaty with the US and whose stock is readily tradable on an established US securities market. However, there are certain exceptions which may impact specific ADS holder accounts. Because BP does not provide tax advice, we suggest you contact a qualified tax consultant to review your specific situation and the impact of the Act.
      What is the current Treaty arrangement between the US and UK relating to the tax treatment of dividends?

      The US and UK signed a Tax Treaty that entered into force on March 31, 2003. Under the new Tax Treaty, the previously deemed tax credit and offsetting withholding tax have been eliminated for dividends paid after May 1, 2003. In the case of shareholders who elected a one year phase-in period, the deemed tax credit and offsetting withholding tax continued to apply to dividends paid before May 1, 2004.

      Best of luck!


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