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Client communication: Difference between revisions
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The original fund status certificate needs to be in place at the Bank before the taxable income event is due to be paid. To avoid delay of certificate recording, customers are reminded to '''send the fund status certificates to the Bank'''. | The original fund status certificate needs to be in place at the Bank before the taxable income event is due to be paid. To avoid delay of certificate recording, customers are reminded to '''send the fund status certificates to the Bank'''. | ||
| style="width: 50%" | From 1 July, you must | | style="width: 50%" | From 1 July, you must give us your new WHT certificates '''before''' the dividend record date. | ||
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====Sub-rule: don’t show your working==== | ====Sub-rule: don’t show your working==== | ||
Having been mired in it for months, your [[subject matter expert]]s will have dominion over every last detail and nuance of the topic. They will barely be able to resist regurgitating | Having been mired in it for months, your [[subject matter expert]]s will have dominion over every last detail and nuance of the topic. They will barely be able to resist regurgitating their acumen all over your letter. ''Don’t let them''. Say only what a non-specialist needs to hear to grasp the gist. Say that as clearly as you can, and ''say no more''. | ||
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| style="width: 50%" |The Upper House of the German Parliament on 28 May 2021 approved the bill pertaining to the modernisation of withholding tax relief procedures (“'''AbzStEntModG'''”; ''Abzugsteuerentlastungsmodernisierungsgesetz''), parts of which are due to enter into force on 1 July 2021, especially amendments to the German Investment Tax Act. The bill foresees a change in terms of the relief at source procedure applicable to income payments subject to German withholding tax (for example dividend and taxable interest payments) paid to a foreign investment fund (“''beschränkt körperschaftsteuerpflichtiger Investmentfonds''”). In this context, newly issued fund status certificates will contain information on the corporation tax status (“''Körperschaftsteuerstatus''”) of the certified investment fund. Current valid certificates that are already submitted, however, will stay valid according to a letter issued by the Ministry of Finance on 1 June 2021 (BMF – reference GZ: IV C 1 - S 1980-1/19/10027 :006 DOK: 2021/0577184). | | style="width: 50%" |The Upper House of the German Parliament on 28 May 2021 approved the bill pertaining to the modernisation of withholding tax relief procedures (“'''AbzStEntModG'''”; ''Abzugsteuerentlastungsmodernisierungsgesetz''), parts of which are due to enter into force on 1 July 2021, especially amendments to the German Investment Tax Act. The bill foresees a change in terms of the relief at source procedure applicable to income payments subject to German withholding tax (for example dividend and taxable interest payments) paid to a foreign investment fund (“''beschränkt körperschaftsteuerpflichtiger Investmentfonds''”). In this context, newly issued fund status certificates will contain information on the corporation tax status (“''Körperschaftsteuerstatus''”) of the certified investment fund. Current valid certificates that are already submitted, however, will stay valid according to a letter issued by the Ministry of Finance on 1 June 2021 (BMF – reference GZ: IV C 1 - S 1980-1/19/10027 :006 DOK: 2021/0577184). | ||
| style="width: 50%" | On 1 July, Germany changed its | | style="width: 50%" | On 1 July, Germany changed its withholding tax relief rules for dividend income. These changes affect your non-resident investment funds. | ||
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