TotalEnergies - Shareholder’s Guide 2024

The tax system of your country

of residence also applies

In your country of residence, dividends distributed by

TotalEnergies may be taxed. However, a mechanism for

preventing double taxation may have been provided for

by the tax treaty between France and your country of

residence or by the internal regulations.

You need to contact the tax authorities of your country

of residence or your financial advisor to obtain more

information about your particular situation.

A few examples

• In Germany: above €1,000 per year for singles (and

€2,000 per year for couples filing a joint income tax

return), dividends are taxed at the overall flat rate of

25% (plus church tax, if applicable) or, if you opt to,

at your applicable income tax rate.

A 5.5% solidarity surcharge is levied on the 25% withholding

tax, representing a global rate of 26.375%. To benefit from

the tax exemption on dividends up to €1,000 or €2,000,

as applies, a specific request must be sent to your paying

financial institution.

• In Belgium: your dividends are taxed at source at the

rate of 30%, when the payment is made by a Belgian

bank or broker and, in principle, they don’t have to be

mentioned on your tax return. However, an exemption

from withholding tax can be granted for dividends up

to €833 per year and per taxpayer in 2024. In practice,

this exemption up to €833 can then be requested via the

annual tax return.

However, in the case of lower income, you can choose

to report dividend income in your income tax return to

take into account the withholding tax and thereby obtain

reimbursement of any excess tax paid. Some types of

income must be declared in the tax return, such as dividend

income, earned directly outside the country.

N.B. The Belgian tax administration allows individual

shareholders to apply for a tax credit equal to 15% of

the dividend amount net of French withholding tax.

To benefit from this tax credit, you need to report the

dividend amount in the relevant page of your tax returns.

Note that a new tax treaty signed on November 9, 2021

between France and Belgium deletes this tax credit This

will be applicable only once the new treaty has been

approved and ratified by both countries

• In the United Kingdom: if your shares are not held in

an ISA (Individual Savings Account) or another specific

fiscal framework, dividends up to £500 per fiscal year are

not taxed (i.e. between April 6, 2024 and April 5, 2025).

The dividend portion above this threshold is therefore

likely to be taxed. However, taxpayers can benefit from

an annual tax allowance, which applies to the total

taxable income of the year. Depending on your income,

the allowance is set at £12,570 for the tax year 2024-

2025. If you earn more than £1,000 in dividends, you

need to assess your situation and add the dividend

portion above £1,000 to your other sources of income.

If the total is lower than or equal to £12,570, your income

will not be taxed. If the total is higher than £12,570,

your income will be taxed. Depending on your situation,

the dividends in excess of £500 will be taxed at a rate of

8.75%, 33.75% or 39.35%.

• In the USA: taxation on the dividends of shares not held

in an IRA (Individual Retirement Account) depends on

their holding period. Qualified dividends (received from

shares held for at least 61 days during the 121-day period

beginning 60 days before the exdividend date will be

taxable at the preferential rates applicable to longterm

capital gains ie 0 15 or 20 depending on the tax

bracket Other dividends are taxed at the ordinary income

tax rates ie between 10 and 37 depending on the

tax bracket Investment income including dividends

is subject to an additional net investment income tax of

38 if it exceeds certain thresholds

2.2

18 I 19