Abgeltungssteuer
English translation: definitive withholding tax
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| 07:26 Nov 10, 2004 |
| German to English translations [PRO] Bus/Financial - Law: Taxation & Customs | |||||||
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|  Selected response from: RobinB United States Local time: 02:12 | ||||||
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Answers
9 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1tax on revenue from capital assets Explanation: "Abgeltungssteuer" is discussed here: http://dict.leo.org/cgi-bin/dict/urlexp/20040212170309 It seems that there isn't an English equivalent for "Abgeltungssteuer". Quellensteuer: "witholding tax" or "deduction at sorce" -------------------------------------------------- Note added at 25 mins (2004-11-10 07:52:19 GMT) -------------------------------------------------- \"soUrce\" of course |
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2 hrs confidence:
definitive withholding tax Explanation: This came up - I can't remember where - a couple of years back when Eichel was proposing an Abgeltungsteuer (normally with one 's' in German) here in Germany. But like most German government proposals (especially the more sensible ones), it was dropped. Maybe Ralf can remember the forum where this issue was discussed. The point about the "definitive" withholding tax is that payment of the tax discharges all liability on the investment income/capital gains, whereas most normal withholding tax arrangements deduct a certain percentage at source, which is then credited against the taxpayer's personal income tax. Depending on the personal tax rate, though, an additional tax liability may arise on the investment income/capital gain. So under this regime, the withholding tax is essentially advance CGT. |
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2 hrs confidence:
Abgeltungssteuer bzw. Quellensteuer = tax on income from capital or withholding tax Explanation: Ähnlich der in Österreich üblichen KESt. |
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