Abgeltungssteuer

English translation: withholding tax

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Abgeltungssteuer
English translation:withholding tax
Entered by: Heather Starastin

08:42 Jul 15, 2004
German to English translations [PRO]
Bus/Financial - Law: Taxation & Customs
German term or phrase: Abgeltungssteuer
"Europäische Abgeltungssteuer auf Zinseinkünfte", referring to the taxation of interest income from bonds.
Heather Starastin
Canada
Local time: 01:09
withholding tax
Explanation:
and in this particular context: "European withholding tax on savings (income)", also known as "European withholding tax on savings in the form of interest income" (long-winded, isn't it...)

It includes income from what they refer to as "debt claims", which would include the interest income on bonds you mention.

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Note added at 4 hrs 4 mins (2004-07-15 12:47:12 GMT)
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Technically, of course, an Abgeltungsteuer is a \"definitive\" withholding tax, meaning that payment of that tax settles all claims against the taxpayer on that particular source of income. Other withholding taxes are credited against e.g. income tax, corporate income tax or CGT and merely reduce the ultimate tax burden. The question of whether the tax on savings is definitive or not is a matter for the individual member states.
Selected response from:

RobinB
United States
Local time: 00:09
Grading comment
Thanks! :-)
4 KudoZ points were awarded for this answer



Summary of answers provided
5withholding tax
RobinB
4 +1flat rate tax on interest income
Christian


  

Answers


16 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
flat rate tax on interest income


Explanation:
"flat rate tax on interest income (Abgeltungssteuer)"




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Note added at 17 mins (2004-07-15 09:00:15 GMT)
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Perhaps \"flat-rate\" instead of \"flat rate\"


    Reference: http://www.qantara.de/webcom/show_article.php/_c-327/_nr-9/_...
Christian
Local time: 07:09
Native speaker of: Native in GermanGerman
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  Orla Ryan
28 mins
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 5/5
withholding tax


Explanation:
and in this particular context: "European withholding tax on savings (income)", also known as "European withholding tax on savings in the form of interest income" (long-winded, isn't it...)

It includes income from what they refer to as "debt claims", which would include the interest income on bonds you mention.

--------------------------------------------------
Note added at 4 hrs 4 mins (2004-07-15 12:47:12 GMT)
--------------------------------------------------

Technically, of course, an Abgeltungsteuer is a \"definitive\" withholding tax, meaning that payment of that tax settles all claims against the taxpayer on that particular source of income. Other withholding taxes are credited against e.g. income tax, corporate income tax or CGT and merely reduce the ultimate tax burden. The question of whether the tax on savings is definitive or not is a matter for the individual member states.


    Reference: http://europa.eu.int/scadplus/leg/en/lvb/l31050.htm
    Reference: http://europa.eu.int/comm/taxation_customs/taxation/informat...
RobinB
United States
Local time: 00:09
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 155
Grading comment
Thanks! :-)
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