I received a dividend payment into my ISA for Vaneck Morningstar Developed Market Dividend Leaders #25, but based on the dividend rate (€0.17 / ± £0.151531) and the amount of shares I had on ex-date, it looks like I’ve been short-changed by InvestEngine.
I also pulled a “Full client valuation report 6 Apr 2022 to 11 Mar 2023” to double-check all my numbers and transactions for this particular ETF
The previous dividend I received in December was correct.
I have this particular ETF as a “duplicate” on the LightYear platform under ticker TDIV and the dividend I received, less 15% withholding tax on the payment date of 8 March, was the correct amount.
@UncleBob Same for me, although I noticed in the link you included, that shows a WHT for dividends of 15%, that there is a new rate for 2023 for interest and royalties of 25.8%. Now if apply the 25.8% rather than 15% then this does equal the dividend amount I got from IE. This seems too much of a coincidence?
Are we a low tax jurisdiction but as noted this shouldn’t apply until 2024
low tax jurisdictions
On January 1, 2021, a withholding tax was introduced on interest and royalty payments to related parties in low-tax or non-cooperative jurisdictions. The tax rate of the Dutch withholding tax is equal to the highest Dutch corporate income tax rate, which is currently 25.8%. As from January 1, 2024, dividend distributions to related parties in low-tax or non-cooperative jurisdictions will also be taxed under this withholding tax.
I also have not heard back from the support team when I raised this issue via the contact us option over the weekend. The only response I had was to say they don’t work weekends but someone will come back to you on Monday (today)
We have corrected the mistake as son as we learned about it.
Please be sure to contact us via email@example.com when you spot that there’s something wrong with your account.
This will allow us to look into the problem much faster and resolve it as well : )