Interest tax withheld in Wise account

[European]

Hi all,
I have some money in USD in a Wise account. It pays monthly interest (called "cashback" by Wise) but they withhold 30% in tax for the Belgian state. I am NOT a tax resident in Belgium and Wise knows it.

1. Is there a way to avoid the withholding?
2. If not, how and when can I claim that money back from the Belgian tax authorities?

Thanks

 

[EliasIT]

How much have you earned from them, since you find it interesting?
I received a‌ grand total of 0.10 cents today, which obviously doesn’t make me dance with joy or‍ worry too much about their 30% tax.

 

[Martin Everson]

No

Not worth it.

Maybe read the below and‍ switch from Wise Balance Cash Back to Wise Interest where there is no withholding tax⁠ applied and you get much higher rates.

https://www.offshorecorptalk.com/threads/best-easy-safe-eu-bank-to-park-100k.42773/post-276132

 

[European]

Thanks @Martin Everson
Why not worth it? Do⁠ you have additional info on the procedure?

It doesn't look like Interest is available in⁤ my country of residence

 

[Martin Everson]

Yes....you can give it a go below and tell us how you got‌ on. You would need Wise to help you etc I believe.

https://finance.belgium.be/en/priva...bursement-withholding-tax-movable-property#q1

😕

I would wait until EU FASTER is implemented.

P.S How much withholding tax are we talking‍ about here that you want back. Your in Iceland and default WHT between Iceland and⁠ Belgium is 10% so you could theoretically get back 20% of WHT.

 

[Why]

That would be 66% of WHT if I am not mistaken

 

[Martin Everson]

Your correct the WHT would be reduced from 30% to 10% WHT under DTA‍ so 20/30 is 66% of WHT you get back

I worded it completely wrong and⁠ should have just wrote you get back 66.66% of the 30% WHT....fullstop conf/(%