The introduction of the MiKaDiv regime marks a significant shift in the German withholding tax landscape, introducing new levels of transparency and complexity for financial institutions involved in dividend-related transactions. As firms work to understand and implement these requirements, industry collaboration has become essential. 

On 2 March 2026, we hosted a MiKaDiv industry workshop in London, bringing together 24 senior experts from across Europe, including Germany, Italy, France, the Netherlands, and the UK. Participants represented a diverse cross-section of the market, investment banks, prime brokers, custodians, fund administrators, technology providers, and tax specialists, each bringing valuable perspectives to the discussion. 

A Collaborative Approach to Complex Challenges 

The workshop was designed as a highly interactive forum, with participants divided into seven focused working groups, each tackling a specific aspect of the MiKaDiv regime. This format enabled deep, practical discussions on: 

• The operational impact of the new reporting requirements 
• Key implementation challenges facing financial institutions 
• Evolving market practices and interpretations 
• Data, systems, and process considerations 

By encouraging open dialogue, the session moved beyond theory into practical problem-solving; something increasingly critical as the regime takes shape. 

Key Themes Emerging from the Workshop 

Several consistent themes emerged across the discussions: 

• Operational complexity: Firms face significant challenges in aligning existing processes with new reporting requirements 
• Data availability and quality: Access to accurate and timely data remains a core concern 
• Cross-border coordination: Differences in interpretation and implementation across jurisdictions require careful management 
• Technology enablement: Effective solutions will rely heavily on scalable and adaptable systems 

Key Takeways: Driving Industry Alignment 

The workshop highlighted the importance of collective thinking and shared insights in navigating regulatory change. By bringing together a wide range of stakeholders, the session helped foster greater alignment on key issues and potential approaches. 

More importantly, it reinforced the value of ongoing industry dialogue as the MiKaDiv framework continues to evolve. 

This collaborative effort became the foundation for a broader initiative to consolidate these insights and take the discussion further than the workshop alone.