English to German Bus/Financial Investment / Securities Zinsrichtinie

Thus a withholding tax could apply when a Luxembourg paying agent makes distributions (a reinvested dividend is considered distribution payment)
and redemption of Shares (including redemption in kind) for the benefit of a shareholder who is an individual residing in another EU Member State. Shareholders are advised that withholding tax could apply on conversions as conversions consist of a redemption followed by a subscription. Shareholders may upon request be **brought within** the exchange of information as provided by the Savings Directive which would result in information regarding the distribution or redemption being provided to the fiscal authority in the country where they are resident.