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The new German Investment Tax Act

The new German Investment Tax Act

Bjoern Ruppenthal


KPMG in Luxembourg


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Additional requirements for certifiers and asset managers

As of 27 July 2016 the new German Investment Tax Act has come into effect. The main content of the law is a fundamental new approach to the taxation of investment funds and their investors in Germany. To ensure investment funds have sufficient time to adapt to the new requirements, the main new provisions will basically apply not before 1 January 2018. Within the transition period the “old” investment tax act will still apply. However important changes, stated in the new law but affecting the old law, will be applicable already as of 27 July 2016 or even as of 1 January 2016 with retroactive effect.

One of these acute changes will impact the certificate of the tax reporting. So far, the certificate issued by your tax advisor is certifying that the tax information provided complies with German tax principles.

As of now, this certificate must also contain a statement whether indications have been found that structures of the investment fund have served tax evasion in terms of § 42 of the German Tax Code and have influenced the certified year-end tax figures or the equity gain during the certified fund business year. This new requirement leads to an extension of additional procedures for the certifier and will bring challenges also for asset managers. We would be more than happy to assist you and to discuss the impact on your business.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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