Avanza – When will withholding tax come in 2023?

As you know, Avanza and Nordnet have changed rules regarding withholding tax. This is the tax you pay on dividends you receive from foreign stocks. When will the withholding tax return on Avanza 2023 be available? What does it cover and how much tax withheld will you get back?

When will withholding tax be paid on Avanza, 2023?

The latest information we have is that withholding tax via Avanza will also be included By the end of March 2023. I compiled this information yesterday courtesy of Avanza.

When is the end of March? I think next week or the week after that.

What does your withholding tax include now in 2023?

At the end of March, you will receive the total amount including tax for the years 2020, 2021 and 2022. For your own part, this is a good amount of money and should definitely be reinvested immediately.

Next year, different rules of the game will apply than the previous…

The rules for deducting tax have been changed

If you own your foreign shares a KF (Capital Insurance) You have to wait for 3 years before you can automatically withdraw these pennies. . Here’s how it looked:

*In Avanza, you often don’t get full withholding tax

In the past, it took 3 years to get back the tax withheld from the dividend. PS: Do my arrows look good? 😉

What’s new is you The tax withheld is refunded every year. From what I heard the refund will be given in February/March. The withholding tax you pay on dividends this year (2023) will be refunded to you in 2024.

Now there will be very less waiting time

Why did it take so long for this to become a reality?

The big bank Nordea has long implemented this concept and has been one with it go to For dividend investors holding foreign stocks. One thing to remember is that it takes almost 3 years for Avanza to get the money back from the tax agency. So, they will now run out of money for the investors.

I would like to inform you that Nordnet was ahead of Avanza in this concept, but Avanza caught up quickly.

Why is this important?

I have sold many wonderful companies because the withholding tax was too high. An example is the Danish Novo Nordisk, which I was very happy to own. This is because the money deducted from the dividend sits idle for a full 3 years before they start working again. Over time, this creates a major negative effect, which I prefer to avoid. So, my tax exemption limit is in countries that deduct 15% (see table below).

Now completely new opportunities have opened up. As we will already get the money back next year, the effect will be minimal and I can focus again on other fantastic distributors.

This will also mean analyzing companies that I have avoided due to withholding tax. For example, what about French L’Oreal, which has raised its dividend for 58 years?

How much withholding tax can I claim back?

Avanza has compiled this list and it is very good. It is worth noting that you pay 0% withholding tax on UK based companies. I wrote about it in my analysis of Unilever.

In some cases, Avanza has to apply for settlement because it is not done by the Swedish tax agency. Then there is no guarantee that you will get 100% refund. This differentiates Nordnet from Avanza, which always pays 100%.