Czech Pegas dividend to be taxed in the Czech Republic, Poland

PRAGUE (Thomson Financial) - The dividend paid by Luxemburg-based Czech textiles maker Pegas Nonwovens should not be subject to Luxemburg withholding tax, however, it is subject to taxation in the Czech Republic and Poland, Pegas said today.

Under the Czech law, the dividend should be included in the general tax base of the taxpayers for calculation of personal or corporate income tax.

Under the Polish law, the dividend would be subject to 19 pct lump-sum corporate or personal income tax, Pegas said.

Prague and Warsaw listed Pegas will pay a dividend of 0.76 eur per share on or about Sept 27 to shareholders registered on Sept 20.

Source:forbes.com