@FLA I was of the opinion that the Netherlands has a withholding tax of 15%, and due to the double tax treaty with Austria, 15% is credited against the Austrian withholding tax of 27.5%, i.e. a total of 27.5% (15% withholding tax + 12.5% withholding tax). This is only my incomplete knowledge, not tax advice. May be wrong. I have no shares from NL so far.