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Investment Tax Law

Original Language Title: Investmentsteuergesetz

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Investment Tax Act (InvStG)

Unofficial table of contents

InvStG

Date of completion: 15.12.2003

Full quote:

" Investment Tax Act of 15 December 2003 (BGBl. 2676, 2724), as last amended by Article 13 of the Law of 25 July 2014 (BGBl I). 1266).

Status: Last amended by Art. 13 G v. 25.7.2014 I 1266

For more details, please refer to the menu under Notes

Footnote

(+ + + Text evidence from: 1.1.2004 + + +) 
(+ + + For application cf. § 1, § 15, § 16, § 18 and § 21 F. from 18.12.2013,
§ 19, § 20 and § 22 + + +)


The G was referred to as Article 2 d. G v. 15.12.2003 I 2676 adopted by the Bundestag with the consent of the Bundesrat. It's gem. Article 17 (1), first sentence, of this Act entered into force on 1 January 2004. Unofficial table of contents

Content Summary

Section 1
Common rules for domestic and foreign investment funds
§ 1 Scope and definitions
§ 2 Income from investment shares
§ 3 Determination of income
§ 3a Payout Order
§ 4 Foreign income
§ 5 Tax bases
§ 6 Taxation in the absence of notice
§ 7 Capital gains tax
§ 8 Disposal of investment shares; loss of assets
§ 9 Yield compensation
§ 10 Roof investment funds
Section 2
Rules only for domestic investment funds
§ 11 Tax exemption and external audit
§ 12 Payout decision
§ 13 Separate determination of the tax bases
§ 14 Mergers of investment funds and parts of investment funds
§ 15 Domestic Special Investment Funds
Section 15a Open Investment Kommanditgesellschaft
Section 3
Regulations only for foreign investment funds
§ 16 Foreign Special Investment Funds
§ 17 Representative
§ 17a Effects of the merger of foreign investment funds and parts of such an investment fund on another foreign investment fund or part of such an investment fund
Section 4
Common rules for domestic and foreign investment companies
§ 18 People-Investment companies
§ 19 Capital investment companies
§ 20 Conversion of an investment company into an investment fund
Section 5
Application and transitional provisions
Section 21 Application requirements before the entry into force of the AIFM Tax Adaptation Act
Section 22 Application requirements for the AIFM Tax Adaptation Act
Section 23 Transitional provisions

Section 1
Common rules for domestic and foreign investment funds

Unofficial table of contents

§ 1 Scope and definitions

(1) This Act shall apply to undertakings for collective investment in transferable securities (UCITS) within the meaning of Article 1 (2) of the Capital Investment Code and Alternative Investment Funds (AIF) within the meaning of Article 1 (3) of the Capital Investment Code and to Shares in UCITS or AIF. Special assets within the meaning of § 96 (2) sentence 1 of the capital investment code, partial social assets within the meaning of § 117 or § 132 of the capital investment code or comparable legally separate units of a foreign UCITS or AIF (partial funds) shall be deemed to be UCITS or AIF for the purposes of this Act. (1a) This Act shall not apply to:
1.
Companies, institutions or organisations for which the capital investment code is not applicable in accordance with Article 2 (1) and (2) of the capital investment code,
2.
Company participation companies within the meaning of Section 1a (1) of the Law on Company Participation Companies and
3.
Equity investment companies which acquire holdings in the public interest with own resources or with state aid.
(1b) Sections 1 to 3 and 5 shall apply to investment funds and units of investment funds. An investment fund shall be a UCITS or an AIF which satisfies the following conditions:
1.
The UCITS, the AIF or the manager of the AIF shall be subject, in the State of its seat, to a prudential supervision of assets to the Community capital investment. This provision shall be deemed to be fulfilled in the cases of Section 2 (3) of the Capital Anlagebuch.
2.
Investors may exercise at least once a year the right to return or terminate their shares, shares or shareholding. This shall be deemed to be fulfilled if the UCITS or the AIF is traded on a stock exchange within the meaning of Section 2 (1) of the Exchange Act or a comparable foreign exchange.
3.
The objective business objective is limited to the installation and management of its resources for the Community account of the share holder or the share holder and an active entrepreneurial management of the property is excluded. Active entrepreneurial management is not harmful in the case of participations in real estate companies within the meaning of Section 1 (19) point 22 of the capital investment code.
4.
The assets shall be invested in accordance with the principle of risk-reduction. A risk mixture is regularly available if the assets are invested in more than three assets with different investment risks. The principle of risk reduction shall be deemed to be respected if the UCITS or the AIF holds shares in one or more other assets in an amount not only insignificant and that other assets are held directly or indirectly in accordance with the principle of Risk-mixing is applied.
5.
The assets shall be at least 90% of the value of the UCITS or of the AIF in the following assets:
a)
securities,
b)
money market instruments,
c)
Derivatives,
d)
Bank deposits,
e)
land, equal rights and comparable rights under the law of other States,
f)
participations in real estate companies within the meaning of Article 1 (19) (22) of the capital investment code;
g)
Operating equipment and other management articles within the meaning of Article 231 (3) of the capital investment code;
h)
shares or shares in domestic and foreign investment funds,
i)
participations in ÖPP project companies within the meaning of section 1 (19) point 28 of the capital investment code, if the traffic value of these holdings can be determined and
j)
Precious metals, non-securitised loan claims and participations in capital companies, if the value of these participations can be determined.
6.
No more than 20 per cent of its value is invested in equity investments in companies which are not admitted to trading on a stock exchange or admitted to or included in another organised market. UCITS or AIF, which in accordance with their investment conditions invest the money they have invested in real estate, may invest up to 100 per cent of their value in real estate companies. Within the limits of the first sentence, company participations may also be held, which were acquired before 28 November 2013.
7.
The level of participation in a capital company is below 10 percent of the capital of the capital company. This shall not apply to participations of a UCITS or of an AIF
a)
real estate companies,
b)
ÖPP project companies and
c)
Companies whose business relates to the production of renewable energies within the meaning of Section 3 (3) of the Law on the Priority of Renewable Energies.
8.
A loan may only be taken in the short term and only up to 30% of the value of the UCITS or the AIF. AIF, which in accordance with the investment conditions shall invest the money deposited with them in real estate, shall be entitled to short-term loans up to 30% of the value of the investment fund and, incidentally, loans up to a level of 50% of the value of the investment fund. Take up the traffic value of the real estate held directly or indirectly in the AIF.
9.
The above conditions of investment or the investment provisions of the capital investment code in force for UCITS are based on the terms of its investment conditions.
(1c) UCITS and AIF, which do not meet the conditions set out in paragraphs 1b and 1f, are investment companies. In the case of investment companies, paragraphs 1, 1a and 2 and sections 4 and 5 shall apply. (1d) An investment fund shall amend its investment conditions in such a way as to ensure that the conditions of investment in paragraph 1b are no longer fulfilled, or is in the case of investment practice, a material breach of the investment provisions of paragraph 1b, in the case of domestic investment funds, the tax office responsible pursuant to section 13 (5) and foreign investment funds shall have the Federal Central Office for Taxes Absence of investment rules. § § 164, 165 and 172 to 175a of the Tax Code shall not be applied to the determination. After the end of the financial year of the investment fund, in which the notice of determination has become indisputable, the investment fund shall be deemed to be an investment company for a period of at least three years. The competent tax office shall inform the Federal Central Office of Taxes of indisputable notice of arrest. The Federal Central Office for Taxes has the name of the investment fund, the securities identification number ISIN, insofar as it has been issued, and the date from which the investment fund is deemed to be an investment company in the Federal Gazette. (1e) In the event of exceeding the permissible level of participation in the capital companies referred to in paragraph 1b (7), the investment fund or its investor shall not be subject to tax arrangements which exceed that limit. (1f) The domestic investment funds may be are formed
1.
in the form of a special assets within the meaning of Article 1 (10) of the capital investment code, which shall be provided by a
a)
external capital management company within the meaning of section 17 (2) (1) of the capital investment code;
b)
the national branch of an EU management company within the meaning of Article 1 (17) of the capital investment code, or
c)
EU management company within the meaning of Article 1 (17) (1) of the Capital Andes Code is managed by means of the cross-border service,
2.
in the form of an investment firm with variable capital within the meaning of Chapter 1, Section 4, subsection 3 of the Capital Investment Code, or
3.
in the form of an open investment partnership within the meaning of Chapter 1, Section 4, subsection 4 of the Capital Investment Code, which, in accordance with its social contract, does not have more than 100 investors who are not natural persons and whose The purpose of the company is directly and exclusively to cover occupational retirement pension obligations. The conditions set out in the first sentence shall not be deemed to be fulfilled if the value of the shares which an investor acquires exceeds the value of the occupational pension obligation. Investors shall, in writing, have to confirm in writing to the open investment service company that they hold their share directly and exclusively to cover occupational pension obligations.
(1g) For the purposes of the application of Sections 1 to 3 and 5, an EU investment fund shall be considered to be the contractual form which is provided by an external capital management company within the meaning of Article 17 (2) (1) of the Capital Investment Code or a domestic A branch of an EU management company within the meaning of Section 1 (17) of the Capital Investment Code shall be administered to the foreign investment funds. In accordance with the law of the State of origin of an investment fund as set out in the first sentence, the Federal Republic of Germany shall, on the basis of the registered office of the capital management company in the country of origin or the domestic branch of the EU management company, to regulate the taxation of the investment fund in a comprehensive manner, this investment fund shall be deemed to apply to the application of this law by way of derogation from the first sentence of the domestic investment fund. Shares in an investment fund as set out in the second sentence shall be deemed to be shares in a domestic investment fund. Shares in an investment fund as set out in the first sentence are part of the foreign shares. (2) The definitions of the capital investment code shall apply accordingly, insofar as there is no deviating definition arising from this law. Investors are the holders of shares in investment funds and investment companies, irrespective of their legal structure. Domestic investment funds or domestic investment companies are UCITS or AIF, which are subject to domestic oversight. EU investment funds and EU investment companies are UCITS or AIF, which are subject to the supervisory law of another Member State of the European Union or of another Contracting State of the Agreement on the European Economic Area. Foreign investment funds and foreign investment companies are EU investment funds or EU investment companies or AIF, which are governed by the law of a third country. The conditions of investment within the meaning of this Act also include the articles of association, the social contract or comparable constituent documents of a UCITS or of an AIF. (2a) The domestic investment funds are also domestic investment companies in the The meaning of this law. Foreign investment funds are also foreign investment companies within the meaning of this law. Domestic investment funds shall be represented as follows in the assertion of rights and the performance of duties:
1.
for the special assets referred to in paragraph 1f, point 1
a)
(a) by the capital management company;
b)
Point (b) by the domestic branch of the EU management company,
c)
Point (c) by the domestic depositary within the meaning of Article 68 (3) of the capital investment code, if it is a domestic UCITS, or by the domestic depositary within the meaning of Article 80 (6) of the capital investment code, if it is is a domestic AIF, and
2.
in the case of companies referred to in paragraph 1g, by the capital management company.
During the settlement of a domestic investment fund, the domestic depositary for the application of the second sentence shall replace the capital management company. (3) payouts are actually paid to the investor or the amounts credited, including the withheld capital gains tax. Distributed income is the capital gains used by an investment fund for distribution, income from leasing and leasing of land and equal rights, other income and profits from divestment transactions. The same income is not used for distribution by an investment fund after deduction of deductible advertising costs.
1.
Capital gains with the exception of income from standstill premiums within the meaning of Section 20 (1) No. 11 of the Income Tax Act, the profits within the meaning of § 20 (2) sentence 1 No. 1 of the Income Tax Act, the profits as defined in § 20 (2) sentence 1 No. 3 the income tax act and the profits within the meaning of section 20 (2) sentence 1 no. 7 of the Income Tax Act, in so far as they do not account for collected interest and if they are other capital requirements,
a)
that have a return on emissions,
b)
in respect of which the remuneration for the transfer of capital is calculated exclusively according to a fixed or variable fraction of the capital and the repayment of the capital is promised or granted at the same level in which it has been left to the discretion of the capital. An emission discount or emission discount for the fine-tuning of the interest shall not be taken into account,
c)
in respect of which neither a partial repayment of the capital assets nor a separate payment for the transfer of the capital assets is promised or granted for use and the repayment of the capital is based on the development of the value of a capital assets. a single share or a published index for a majority of shares, and this value development is re-established to the same extent,
d)
which are those referred to in (b) where, in addition to the fixed rate of return, the holder has a right to exchange in shares, or where the holder has the right to vote in addition to the final maturity, either by the issuer repayment of capital or the supply of a pre-determined number of shares of a company, or in which the issuer has the additional right to pay the holder in place of the repayment of the nominal amount, if it is due; to serve a predetermined number of shares;
e)
the profit or loss rights within the meaning of § 43 (1) sentence 1 (2) of the Income Tax Act (Einkommensteuergesetz),
f)
where the acquisition costs are partly attributable to separable warrants and a separately tradable bond,
2.
Income from the leasing and leasing of land and the same rights, other income and profits from private disposal transactions within the meaning of § 23 (1) sentence 1 no. 1, para. 2 and 3 of the Income Tax Act.
The distributed and distributed income in the sense of the sentences 2 and 3 also includes income defined in accordance with Article 3 (2), first sentence, No. 2. If the investment company does not take a decision no later than four months after the end of the financial year on the use of the proceeds of the previous financial year, these shall be deemed not to be used for the distribution. (4) Remuneration for which the investor has not yet received or is in the form of a
1.
revenue of the investment fund within the meaning of Article 20 (1) (7) and (2) (1) (2) (b) and (2), first sentence, point (1) (7) of the Income Tax Law, in so far as they are part of the same income as referred to in the third sentence of paragraph 3, as well as the acquired rights of the investment fund to such revenue; the claims shall be assessed on the basis of Section 20 (2) of the Income Tax Act;
2.
Income from shares in other investment funds, insofar as the income of the other investment fund within the meaning of Article 20 (1) (7) and (2) (1) (2) (b) and (20) (2) sentence 1 (7) of the Income Tax Act, as far as they are concerned, are included in the same income as referred to in the third sentence of paragraph 3;
3.
the interim gains of the investment fund;
4.
at the time of the return or sale of the investment part, any interim gains or values to be set up for shares in other investment funds held by the investment fund.

Footnote

(+ + + § 1 (1), 1a: For the first application, see: Section 21 (20) + + +)
(+ + + § 1 (1d): For application, see Section 15 (1) and § 16 sentence 1 + + +)
(+ + + § 1 (1d) sentence 4 and 5: For use, see: § 20 sentence 3 + + +)
(+ + + § 1 (2): For the first application, see Section 21 (20) + + +)
(+ + + § 1 (3) sentence 3 and 4, para. 4, No. 1, and 2: For the first time, see Section 21 (12) + + +)
(+ + + § 1 (3) sentence 5: For the first application, see: Section 21 (14) + + +) Unofficial table of contents

§ 2 Income from investment shares

(1) The income distributed on investment shares and the same income and the intermediate profit shall be part of the income from capital assets within the meaning of Section 20 (1) (1) of the Income Tax Act if it does not take into account operating income of the Anlegers, benefits under § 22 No. 1 sentence 3 (a) double letter aa of the Income Tax Act in connection with § 10 para. 1 No. 2 (b) of the Income Tax Act or benefits in the sense of § 22 No. 5 of the Income Tax Act; § 3 No. 40 of the Income Tax Act and Section 8b (1) of the Corporate Income Tax Act except in the cases referred to in paragraph 2. The income equivalent income shall be valid except in the cases of § 22 No. 1 sentence 3 (a) double letter aa of the Income Tax Act in conjunction with Section 10 (1) No. 2 (b) of the Income Tax Act or § 22 No. 5 of the Income Tax Act. Income tax law with the end of the financial year in which they have been collected, than closed. In the case of partial distribution of the income referred to in section 1 (3), the income equal to the distribution shall be attributed to the investor at the time of the partial distribution. If, in the case of the partial distribution, the payout is not sufficient to retain the capital gains tax in accordance with § 7 (1) to (3), including tax taxes on capital gains tax (tax deductible amounts), regulated by law or country law, the partial distribution shall also be deemed to have been received by the investor on the expiry of the financial year in which the investment income has been obtained by the investment fund in accordance with Article 3 (1) and shall be deemed to be the same income for the tax deprivation. The intermediate profit shall be deemed to have been included in the income from the return or disposal of the investment part. (1a) An investor acquires a share of a disbursing investment fund, including the right to pay for the distribution, he receives but without this right, the revenue shall be deemed to have been distributed to the investor by the investment fund instead of the payout. If the investment fund has made a partial distribution within the meaning of the third sentence of paragraph 1 on the share acquired, the investor shall also be allocated amounts equal to the payout equal to the payout, in addition to the revenue instead of the payout. The notices referred to in § 5 shall also apply to these revenues and amounts. For the purposes of this Act, the revenue instead of the distribution to the investment share and the amounts as set out in the second sentence shall be equal to the distribution of the same amounts. The paying agency in accordance with § 7 (1) or the obligation to pay the payment in accordance with § 7 (3a) and (3c) shall collect the income in accordance with sentence 1 from the transferor of the share. (1b) An investor acquires a share of a domestic thesauding In the course of the financial year, however, investment funds shall receive it after the end of the financial year, and the investor shall be deemed to have received an amount at the end of the financial year, which shall be equal in amount and composition to the payout equal to the same amounts. Where the investment fund provides a partial distribution within the meaning of the fourth sentence of paragraph 1 on the share acquired, the amount referred to in the first sentence shall be increased by that part-distribution. The notices in accordance with § 5 shall also apply to the amount by sentence 1 and part-distributions. For the purposes of applying this Act, the amounts referred to in the first sentence of this Act shall be equal to the amounts equal to the payout and any revenue in lieu of the partial distribution as set out in the second sentence of the distribution to the investment share. The amount of tax deductible in accordance with § 7 (3b), 3d and 4 shall be deducted from the transferor of the share by the transferee in accordance with the second sentence of Article 7 (b). (1c) The investment company shall, in coordination with the depositary, ensure that the amount of the tax is deducted from the transferee. , in the case of shares which are required or agreed before the day on which the net asset value of the investment fund is reduced by the amount of the tax deduction to be charged by the paying agency or by the amount of the amount to be paid, and that will be fulfilled after that day, not from too low a scale of Investment funds are assumed and distributions to investors or amounts to be made available as tax deduction amounts only to the extent to which the investment fund is charged, which corresponds to the calculations of the investment company. (2) Insofar as domestic and foreign income distributed and distributed in the same way as in the meaning of section 43 (1), first sentence, points 1, 1a and 6, as well as the second sentence of the Income Tax Act, are § 3 (40) of the Income Tax Act as well as § 19 of the Income Tax Act REIT law of 28 May 2007 (BGBl. I p. 914). As far as distributed domestic and foreign income are contained within the meaning of § 43 (1) sentence 1 (9) as well as sentence 2 of the Income Tax Act, § 3 (40) of the Income Tax Act, § 8b of the Corporate Tax Act and § § 8b of the German Income Tax Act (§ 43) of the Income Tax Act 19 of the REIT Act. § 15 (1a) and § 16 sentence 3 shall remain unaffected. (2a) The income of the investment fund, which has been paid out or equal to the distribution, is derived from interest payments within the meaning of Section 4h (3) sentence 3 of the Income Tax Act, shall be subject to the investor within the scope of § 4h (3) The distributed income on investment shares is tax-free in so far as it contains profits from the sale of land and the same rights as it is because the profits from private disposal transactions within the meaning of section 23 (1) (4) § 3 (41) (a) of the Income Tax Act is to be applied mutagentily. (5) Negative capital gains from the income tax act. Interim gains on the basis of the acquisition of shares issued during the current financial year of the investment fund shall only be taken into account if the investment fund carries out a compensation in accordance with § 9.

Footnote

(+ + + § 2: For application, see Section 21 (1), (5), (6), (20), 22 and Section 19 (1) + + +) Unofficial table of contents

§ 3 Determination of income

(1) In determining the income of the investment fund, Section 2 (2), first sentence, point 2 of the Income Tax Act shall apply in a reasonable way. (1a) If an interest coupon or an interest claim is severed from the right of stock, this shall be deemed to be the sale of the income tax law. Debt description and the acquisition of the economic assets created by the separation. A separation shall be deemed to have been carried out if the holder of the debt tender is responsible for the securities identification numbers for the economic goods resulting from the separation. The proceeds of the debt description shall be deemed to be a value of their common value at the time of separation. In order to determine the cost of the new assets, the value of the new assets must be divided according to the common value of the new economic assets. In accordance with paragraph 2, the first sentence of the first sentence of paragraph 2, the income of the tribe shall be subject to accrual rights. (2) § 11 of the Income Tax Law shall apply with the following measures:
1.
Dividends shall be deemed to have been received on the day of the dividend payment;
2.
interest, raised claims arising from an emission premium or discount with the exception of the fine-tuning discount pursuant to section 1 (3) sentence 3 (1) (b) sentence 2 of another capital requirement within the meaning of Section 20 (1) No. 7 of the Income Tax Act, which has an emission yield, and rents are subject to accrual rights; the claimed rights are to be applied with the return on emissions, provided that it can be easily and unambiguously determined; otherwise the difference between the Market value at the end of the financial year and the market value at the beginning of the financial year or, in the case of the acquisition, within the financial year, the difference between the market value at the end of the financial year and the cost of acquisition as interest (market return); the defined interest and rents shall be deemed to have been granted. In the case of other capital exposures within the meaning of Article 1 (3) (3) (1) (f), the first sentence shall apply only to interest and not to any further claims;
3.
Advertising costs which are subject to an accrual period shall be deemed to have flowed off as far as the actual outflow takes place in the following financial year.
In so far as the revenue is already recorded before the inflow, a deduction of foreign taxes in accordance with § 4 (4) is already permissible in the financial year in which the revenue is attributed. (3) Advertising costs of the investment fund, which are included in a the direct economic link with revenue is to be deducted from the respective revenue. The direct advertising costs also include offsets for wear and/or substance reduction, insofar as these do not exceed the amounts permitted in accordance with § 7 of the Income Tax Act. The remaining, in an indirect economic context, of the kind referred to in the first sentence of Article 1 (3) (3) (1) and (2), as well as other profits and losses arising from disposal operations, shall be Advertising costs can be deducted exclusively according to the following measures:
1.
Foreign current income or other foreign profits and losses arising from disposal operations, for which the Federal Republic of Germany is not entitled to the right to tax on the basis of an agreement to avoid double taxation, the average assets of the preceding financial year, the source of these current revenue and the other profits and losses arising from disposal operations, shall be the average of the average assets of the previous financial year. Total assets of the previous financial year. In order to calculate the average assets, the monthly end values of the previous financial year shall be used.
2.
In determining the returns on which the investor
a)
§ 3 (40) of the Income Tax Act (Einkommensteuergesetz) is applicable, the deductible advertising costs which remain after the application of the number 1 are the current revenue, which is also subject to Section 3 (40) of the Income Tax Act, as well as the other gains in the income tax law. The meaning of Section 3 (40) of the Income Tax Act and the other reductions in profits within the meaning of Section 3c (2) of the Income Tax Act of the current financial year in relation to the average assets of the previous financial year Financial year, which is the source of this revenue, to the average total assets of the preceding financial year, which shall be reduced by the assets referred to in point 1. The second sentence of paragraph 1 shall apply by analogy;
b)
§ 8b (1) of the Corporate Tax Law or, notwithstanding the provisions of Section 8b (4) of the Corporate Tax Act in conjunction with Section 15 (1a) of this Act, shall be applicable the deductible remaining after the application of the number 1 Advertising costs in connection with Section 8b (1) of the Corporate Tax Act, current revenue within the meaning of Section 2 (2) sentence 1 of this Act and the other profits and profits in accordance with Section 15 (1a) of this Act. Losses arising from disposal operations within the meaning of Section 8b (2) and (3) of the Corporate tax law of the current financial year in the ratio of the previous financial year, which is the source of this revenue, to the average total assets of the previous financial year, which is the assets of the The meaning of point 1 is reduced. The second sentence of paragraph 1 shall apply accordingly.
3.
The peel-off costs, which have not yet been allocated after the application of the first and third sentences of 1 and 3, shall be subject to the remaining current revenue and to the remainder of the profits and losses arising from the sale of the proceeds of the sale of the for the current financial year.
The advertising costs to be allocated in accordance with the third sentence shall be, within the respective paragraphs 1 to 3, the respective current revenue or the other profits and losses arising from disposal operations in accordance with the ratio of the positive balances of the current the revenue of the previous financial year on the one hand and the positive balances of the other gains and losses arising from the disposal operations of the previous financial year on the other hand. Profit and loss lectures remain unaccounted for. After the attribution of the advertising costs in accordance with the sentences 1 to 5, a further allocation of the advertising costs in the ratio of the positive current receipts of the previous financial year to each other shall be made to the respective current revenue. The current revenue in accordance with point 2 (b) of the second sentence shall be the cost of advertising in accordance with the ratio of the positive balance of current revenue within the meaning of Article 15 (1a) of this Act in conjunction with Section 8b (1) of the Corporate Tax Law of the preceding financial year, on the one hand, and the positive balance of current revenue within the meaning of Article 2 (2), first sentence, of this Act of the previous financial year, on the other hand; and the sixth sentence shall apply mutah. Sentence 6 shall apply in accordance with the other gains and losses arising from the sale of goods. In the absence of positive balances on both sides, the allocation of the advertising costs is in each case half-way to the current revenue as well as to the other profits and losses from disposal operations. (4) Negative returns of the investment fund are up to to the level of the positive yields of the same kind. Non-balanced negative earnings are to be compensated for in the following financial years. (5) Income from the investment fund's profit share in a partnership shall be included in the income of the financial year in which the marketing year of the investment fund is Civil society ends.

Footnote

(+ + + § 3 (2) sentence 1 no. 2: For the first application, see: Section 21 (12) sentence 3 + + +)
(+ + + § 3 (1a): For application, see Section 22 (1) sentence 1 + + +)
(+ + + § 3 (3): For application, see Section 22 (1) sentence 2 + + +) Unofficial table of contents

§ 3a Order of payout

In the case of a payout, the amounts of the substance shall not be considered to be used until all proceeds of the current and all previous financial years have been paid out.

Footnote

(+ + + § 3a: For application cf. Section 22 (4) + + +) Unofficial table of contents

§ 4 Foreign Income

(1) The income distributed on investment shares and the income equal to the distribution shall be disregarded in the event of an income tax or corporation tax in so far as it is income from a foreign country for which the Federal Republic of Germany has waived the exercise of the right to tax on the basis of an agreement to avoid double taxation. Where the income from an investment component which is equal to or equal to the distribution does not belong to the income derived from capital assets, the income which has been exempted in accordance with the provisions of the first sentence shall be applied to the tax rate resulting from the calculation of the amount of the revenue from the investment. Income tax increases or decreases the income taxable under section 32a of the Income Tax Act by the income referred to in the first sentence, taking into account the extraordinary income contained in the income tax, with one fifth. The second sentence of Section 32b (1) of the Income Tax Act applies accordingly. § 32b (1a) of the Income Tax Act is to be applied. (2) Are included in the amounts paid out on investment shares as well as the payout equal to income from a foreign country originating in a foreign country, which in this state is to be paid according to § 34c Article 26 (1) of the Income Tax Act or Article 26 (1) of the Corporate Income Tax Act or an agreement to avoid double taxation on income tax or corporation tax is to be used, the unlimited taxable investors the fixed and paid and not paid Foreign tax on the part of the income tax or corporation tax, which is attributable to these foreign tax revenues increased by the pro-rata foreign tax, is subject to a reduction in the amount of the tax. This part shall be determined in such a way that the income tax resulting from the apportionment of the income to be taxed-including the foreign income-in accordance with § § 32a, 32b, 34 and 34b of the Income Tax Act or in accordance with § 23 of the corporation tax law resulting in corporation tax in the ratio of these foreign income to the sum of the income. The maximum amount of eligible foreign taxes is to be calculated for the distributed and payout income from each individual investment fund. § 34c (1) sentences 3 and 4, para. 2, 3, 6 and 7 of the Income Tax Act shall apply mutagentily. In the case of income distributed on foreign investment shares in the State in which the foreign investment fund is established, a tax is levied, the rates 1 to 4 shall apply, with the proviso that the determination of the income shall be subject to the The maximum amount of the chargeable foreign tax rate 3 shall apply accordingly. The offsetting of the foreign tax under Section 34c (1) of the Income Tax Act is not contrary to the first sentence of Section 34c (6) sentence 1 of the German Income Tax Act. In the case of income paid out on foreign investment shares and income equal to the payout, which are subject to German income tax, such income and the German tax arising from such income shall apply for the purpose of: Calculation and application of § 7 (1) as foreign income and foreign tax within the meaning of sentence 1. By way of derogation from sentences 1 to 6, in the case of proceeds which are income within the meaning of § 20 (1) sentence 1 (1) of the Income Tax Act, § 32d (5) and 43a (3) sentence 1 of the Income Tax Act shall apply mutagenously. (3) Foreign taxes, which are shall not be taken into account in the offsetting or deduction referred to in paragraph 2 or in the deduction referred to in paragraph 2 or in the deduction referred to in paragraph 1 or 2 (2) and (3), and shall not be taken into account in accordance with paragraph 1 or 2 (2) and (3). (4) The investment fund the foreign tax, which is attributable to the investor in accordance with paragraph 2, may be subject to tax at the Determination of income (§ 3) as advertising costs. In such a case, the investor shall not be entitled to an invoice or deduction of such taxes as referred to in paragraph 2.

Footnote

(+ + + § 4: For application, see Section 21 (13) and 19 + + +)
(+ + + § 4 (4): For application, see Section 15 (1) + + +) Unofficial table of contents

§ 5 Tax bases

(1) § § 2 and 4 are to be applied only if:
1.
the investment company shall, for each payout referred to an investment component, specify the investment identification number ISIN of the investment fund and the period to which the information relates, the following: Tax bases in the German language are known:
a)
the amount of the payout (at least four decimal places) and
aa)
the distribution of the same earnings in the previous years contained in the distribution,
bb)
substance amounts contained in the payout,
b)
the amount of the distributed yields (with at least four decimal places);
c)
those contained in the amounts distributed
aa)
Income within the meaning of Section 2 (2) sentence 1 of this Act in conjunction with Section 3 (40) of the Income Tax Act or in the case of Section 16 of this Act in conjunction with Section 8b (1) of the Corporate Tax Law,
bb)
Capital gains within the meaning of § 2 (2) sentence 2 of this Act in conjunction with Section 8b (2) of the Corporate Tax Law or § 3 (40) of the Income Tax Act,
cc)
Income within the meaning of Article 2 (2a),
dd)
non-taxable capital gains within the meaning of Article 2 (3) (1), first sentence, in the version to be applied on 31 December 2008,
ee)
Income within the meaning of section 2 (3) (1), second sentence, in the version to be applied on 31 December 2008, in so far as the income is not capital gains within the meaning of Section 20 of the Income Tax Law,
ff)
non-taxable capital gains within the meaning of Article 2 (3) in the version to be applied as from 1 January 2009,
gg)
income within the meaning of Article 4 (1);
hh)
income contained in the double letter gg, which are not subject to the advance reservation,
ii)
income within the meaning of Article 4 (2), for which no deduction has been made in accordance with paragraph 4,
jj)
(ii) income contained in double letter ii, to which § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Law or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in conjunction with § 8b (1) of the Corporate Tax Law,
kk)
(ii) the income referred to in Article 4 (2), which, in accordance with an agreement to avoid double taxation, entitles a tax on income tax or corporation tax to be charged for the purposes of calculating a tax paid as a paid tax,
b)
income contained in double letter kk, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Act or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in conjunction with § 8b (1) of the Corporate Tax Law,
d)
the part of the payout entitling the person to pay the capital gains tax
aa)
within the meaning of Article 7 (1) and (2),
bb)
within the meaning of Article 7 (3),
cc)
within the meaning of Article 7 (1), sentence 4, where, in the case of a double letter, aa is included,
e)
(dropped)
f)
the amount of the foreign tax which is attributable to the income referred to in paragraph 4 (2) contained in the distributed income, and
aa)
which, in accordance with Article 4 (2) of this Act, can be credited in conjunction with Section 32d (5) or Section 34c (1) of the Income Tax Act or an agreement to avoid double taxation, if no deduction has been made pursuant to Article 4 (4),
bb)
is included in the double letter aa and is not applicable to income, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Act or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in the connection with Section 8b (1) of the Corporate Tax Law is to be applied,
cc)
which is deductible pursuant to § 4 (2) of this Act in conjunction with Section 34c (3) of the Income Tax Act, if no deduction has been made pursuant to Section 4 (4) of this Act,
dd)
is contained in double letter cc and is not applicable to income, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Act or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in the connection with Section 8b (1) of the Corporate Tax Law is to be applied,
ee)
which is deemed to have been paid in accordance with an agreement to avoid double taxation and which, in accordance with Article 4 (2), can be credited in conjunction with this Agreement;
ff)
is included in the double letter ee and is not applicable to income, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Law or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in the connection with Section 8b (1) of the Corporate Tax Law is to be applied,
g)
the amount of the dislocations for wear or substance reduction;
h)
the withholding tax paid in the financial year, reduced by the withholding tax reimbursed for the financial year or previous financial years;
2.
the investment company shall, at the latest four months after the end of the financial year in which the investment company is deemed to have received the same income, the information referred to in point 1, with the exception of point (a), on a The investment component in German language is known;
3.
the investment company provides the information referred to in points 1 and 2 in conjunction with the annual report within the meaning of sections 101, 120, 135, 298 (1), first sentence, point 1 and section 299 (1) point 3 of the capital investment code no later than four months after the date of the Expiry of the financial year in the Federal Gazette (Bundesanzeiger); the information is provided with the attestation of a professional who is authorized to provide commercial assistance within the meaning of Section 3 of the German Tax Consultation Act (Steuerberatungsgesetz), an officially recognized professional the accounting body or a comparable body to the effect that the information referred to in the rules of German tax law have been determined; the certificate must contain a statement as to whether values have been received from a yield compensation in the determination of the data; § 323 of the Commercial Code is to be applied in a reasonable way. If, within four months of the end of the financial year, a distribution decision is taken for that financial year, by way of derogation from the first sentence, the information referred to in points 1 and 2 shall be no later than four months after the date of the date of the Decision to make known. If the annual report is not published in the Federal Gazette in accordance with the provisions of the Capital Investment Code, it is also known to make known the site where the account report is published in the German language;
4.
the foreign investment company or the capital management company managing an EU investment fund of the form of the contract, the sum of the applicable, after 31 December 1993, the holder of the foreign investment shares, or the revenue not subject to the tax withdrawal shall be determined and made known at the withdrawal price;
5.
the foreign investment company or the capital management company managing an EU investment fund of the form of the contract, on request, to the Federal Central Office for Taxes within three months of the accuracy of the 1, 2 and 4 shall be completely restated. If the documents are written in a foreign language, a certified translation into the German language may be required. Where the foreign investment company or the capital management company managing an EU investment fund has disclosed information in an inaccurate amount, it shall have the difference in its own responsibility or on the basis of Require the Federal Central Office for Taxes to be taken into account in the announcement for the current financial year.
If the information referred to in the first sentence of 1 (c) or (f) is not available, the income shall be taxed in accordance with the first sentence of Article 2 (1) and § 4 shall not apply to this extent. A notice of sentence 1 (1) (c) (a) (aa) and (gg) shall be permitted only if the publication has been published in accordance with Article 5 (2) sentence 4. (2) § 8 (1) to (4) shall apply only if the investment company has assessed the positive or negative percentage of the value of the investment component, separated for natural persons and for entities, persons ' associations or assets, which shall be based on the percentage of the value of the investment percentage contained in the revenue from the sale Parts within the meaning of § 8 are deleted (share gain) and are published with the withdrawal price. The share gain per investment share may not change as a result of the purchase and sale of investment shares. The investment company shall be bound by its decision on the first-time issue of the shares, whether it determines or disregards the share gain. § 2 (2) and § 4 (1) are to be applied only if the investment company publishes the corresponding parts of the share gain in the assessment. (3) The investment company shall assess the intermediate profit and publish it at the withdrawal price, indicating whether the intermediate profit shall be determined in accordance with Article 9, second sentence. procedure. If the conditions set out in the first sentence are not fulfilled, 6 per cent of the remuneration shall be set for the return or disposal of the investment part; negative capital gains from intermediate profits due to the acquisition of during the current No account shall be taken of shares issued in the financial year of the investment fund. The first sentence of paragraph 1, point 5 shall apply accordingly. Sentences 1 and 2 shall not apply to domestic investment funds within the meaning of Article 225 of the Capital Investment Code and to foreign investment funds subject to comparable requirements in respect of their investment policy.

Footnote

(+ + + § 5: For application, see Section 21 (6), (14), (19), (20), 22 + + +)
(+ + + § 5 (1): For application, see Section 15 (1) + + +)
(+ + + § 5 (1) sentence 1, no. 5, sentence 3: For application, see § 16 sentence 1 + + +) Unofficial table of contents

Section 6 Taxation in the absence of publicity

If the conditions set out in Section 5 (1) are not fulfilled, the investors shall be subject to the payouts to investment shares, the intermediate profit and 70 percent of the additional amount between the first withdrawal price fixed in the calendar year and the last withdrawal price of an investment percentage fixed in the calendar year, at least 6 per cent of the last withdrawal price fixed in the calendar year. If a withdrawal price is not fixed, the stock exchange or market price shall be replaced by the price. The part of the additional amount to be used in accordance with the first sentence shall be deemed to have been distributed and closed at the end of the calendar year concerned.

Footnote

(+ + + § 6: For application, see Section 15 (1) and § 16 sentence 1 + + +) Unofficial table of contents

§ 7 Capital gains tax

(1) A tax withdrawal from the capital yield is levied by
1.
distributed income within the meaning of section 2 (1), insofar as they do not contain:
a)
Domestic capital gains within the meaning of section 43 (1), first sentence, point 1 and 1a, as well as the second sentence of the Income Tax Act and the income distributed by domestic investment companies from the leasing and leasing of domestically located domestic land and the same rights as well as distributed profits from private divestment transactions with land situated in the country and equal rights; paragraph 3 shall remain unaffected;
b)
Profits arising from the sale of securities and subscription rights to shares in capital companies, from futures transactions within the meaning of section 21 (1) sentence 2 as well as from the sale of land and the same rights as defined in section 2 (3) as well as income within the meaning of Section 4 (1),
2.
Distributions within the meaning of § 6,
3.
from the date of 31 December 1993 to an investor in foreign investment shares in the form of income received, not yet subject to tax deprivation, including foreign income within the meaning of section 43 (1) sentence 1 no. 1 of the Income Tax Act. Where the body paying the capital gains has acquired or sold the investment share and has been held since then, or is the paying agency in the context of a depository transfer, the acquisition data pursuant to § 43a (2) sentence 2 to 5 of the Income Tax Act has been shown to carry out the tax deductions only from the amounts received in the period of the safekeeping as closed, not yet subject to tax deprivation,
4.
the intermediate profit.
The provisions of the Income Tax Act, which apply to the tax deductions of capital gains within the meaning of § 43 (1) sentence 1 No. 7 and sentence 2 of the Income Tax Act, shall apply accordingly. The offsetting of foreign taxes is based on § 4 para. 2 sentence 8. In so far as the distributed income includes capital gains within the meaning of § 43 (1), first sentence, points 6 and 8 to 12 of the Income Tax Act, the domestic paying agency shall apply § 43 (2) sentences 3 to 8 of the Income Tax Act. (2) In the case of a partial distribution pursuant to section 2 (1), third sentence, paragraphs 1, 3, 3a and 3c shall apply to the distributed and distributed income; the capital gains tax to be leased shall be retained by the amount paid. In the case of a partial distribution pursuant to section 2 (1) sentence 4, the distributed and distributed income shall be subject to paragraphs 3, 3b, 3d and 4. (3) A capital gains tax shall be paid by the proceeds from a share of a domestic investment funds,
1.
where the proceeds from the investment share contain domestic income within the meaning of Section 43 (1) (1) (1) and (1a) and (2) of the Income Tax Law,
a)
from the distributed proceeds in accordance with the provisions of paragraph 3a and
b)
in accordance with the provisions of paragraph 3b, the amounts equal to the distribution of the same amount;
2.
where the proceeds from the investment share contain income from leasing and leasing of and profits from divestment transactions with land situated in the country and equal rights of the land,
a)
from the yields distributed in accordance with the provisions of paragraph 3c and
b)
from the distribution of the same yields as provided for in paragraph 3d.
The tax deprivation shall be the responsibility of the endirectlethful. The person concerned shall collect the amounts to be paid, including the amounts of tax deducted from the depositary, in so far as he has not to collect them from the transferor of the share in accordance with Article 2 (1a) and (1b). The investment fund shall make available to the depositary the amounts for the payouts and the tax deductions resulting from its calculations using the number of investment shares determined by the depositary bank. (3a) The person liable to pay shall be the paying agent in the case of distributed yields as referred to in the first sentence of paragraph 3 (1) (a)
1.
the domestic credit or financial services institution within the meaning of Section 43 (1), first sentence, point 7 (b) of the Income Tax Act or the domestic securities trading company, which, or the domestic securities trading bank, which
a)
the shares in the investment fund are maintained or managed; and
aa)
the income referred to in the first sentence is paid out or credited; or
bb)
the income referred to in the first sentence is paid to a foreign body; or
b)
the shares in the investment fund are not kept or managed; and
aa)
the income referred to in the first sentence is paid out or credited; or
bb)
the income referred to in the first sentence shall be paid to a foreign body; or
2.
the securities collection bank which has been entrusted with the shares in the investment fund for the custody of the securities if it pays the proceeds in the sense of the first sentence to a foreign entity.
In addition, the provisions of the Income Tax Act applicable to the tax deductions of capital gains as defined in Section 43 (1), first sentence, point 1a of the Income Tax Act shall apply mutagenously. (3b) The provisions of the Income Tax Act shall apply mutagenously. for the same amounts as referred to in the first sentence of paragraph 3, point 1 (b), the domestic body which, in the case of a payout, would be the first sentence of paragraph 3a. The depositary shall make the amounts of tax deductible available to the national authorities in accordance with the first sentence of the first sentence, unless the national authority has to recover amounts in accordance with Article 2 (1b); the amount of tax deductible amounts not requested shall be: the depositary after the end of the second month since the end of the financial year of the investment fund to 10. of the following month and to be deducted. The investment fund, the depositary and the other domestic authorities shall, in accordance with the same rules, apply the amounts to be made available and any repayment of the tax deductions, the amount of the amounts paid out in accordance with the first sentence of paragraph 3 of this Article 1 (a). The national authority shall retain the capital gains tax at the latest by the end of the first month since the end of the financial year of the investment fund and at the end of the 10. of the following month and to be deducted. In addition, the provisions of the Income Tax Act applicable to the tax deductions of capital gains as defined in Section 43 (1), first sentence, point 1a of the Income Tax Act must be applied accordingly. (3c) The tax deductions have been paid out in the case of the tax deductions. for the purposes of paragraph 3, first sentence, point (2) (a), for the purposes of paragraph 2 (a), to make the issuing body within the meaning of the first sentence of paragraph 3 (a). In addition, the provisions of the Income Tax Act and Section 44a (10) sentences 4 to 7 of the Income Tax Act, which apply to the tax deductions of capital gains as defined in Section 43 (1) sentence 1, first sentence, point 7 and sentence 2 of the Income Tax Act (3d) In the case of the same proceeds as referred to in paragraph 3, first sentence, point 2 (b), the tax withdrawal shall, as an obligation to comply with the provisions of point (2) (b) of the second subparagraph, be used by the domestic authority, which shall, in the case of a payout, take the place of: The first sentence of paragraph 3c shall be in conjunction with the first sentence of paragraph 3a. The second sentence of paragraph 3b is to be applied accordingly. In addition, the provisions of the Income Tax Act and Section 44a (10) sentences 4 to 7 of the Income Tax Act, which apply to the tax deductions of capital gains as defined in Section 43 (1) sentence 1, first sentence, point 7 and sentence 2 of the Income Tax Act (4) From the equal amounts of a domestic investment fund with the exception of those referred to in the first sentence of paragraph 3 (1) (b) and (2) (b), the domestic authority shall be subject to the same amount as the domestic unit. Tax deductiation which, in the case of income referred to in the first sentence of paragraph 3, shall be the second sentence of Point (b) under paragraph 3d, first sentence, would be required as a paying agency. In addition, paragraph 1 shall apply mutatily. The provisions of the second sentence of the second sentence of the second sentence of the first sentence of paragraph 44a of the Income Tax Act shall apply mutagenically. (5) In the case of a payout of the same income as referred to in the first sentence of paragraph 3, point 1 (b) and (2) (b), and paragraph 4 of the same, shall be applied by the In addition, the withholding tax on application of the tax deductions shall be subject to the conditions laid down in Section 44a (4) and (10) sentence 1 of the Income Tax Act (Einkommensteuergesetz) in the country where the tax deductions are not subject to the tax deductions, in whole or in part, shall be reimbursed by the domestic investment company. The investor shall submit to the investment company a certificate issued by the domestic body within the meaning of paragraphs 3b, 3d and 4, stating that it has not made the refund and will not make it. In addition, the provisions of the Income Tax Act applicable to the settlement and reimbursement of the capital gains tax shall be applied accordingly. In accordance with Section 44 (5) of the Income Tax Act, the erstatent domestic investment company shall be liable for refunds wrongly made; for the payment request, § 219 of the Tax Code shall apply accordingly. The financial office responsible for the taxation of the domestic investment company on the basis of income shall be responsible for the verification of the refunds and for the assertion of the recovery of refunds or liability. (6) in the case of a creditor of equal income within the meaning of paragraph 4, who, as a body, has neither the seat nor the management nor a natural person domicated or habituated in its territory, nor from the domestic authority of the In addition, the domestic investment company, upon request, has the -retained capital gains tax. The domestic investment company shall be reassuring from the foreign credit institution or financial services institution that the creditor of the capital gains shall not be a registered office or a management body in accordance with the depository documents as a body. or as a natural person, who is not resident or habituated in the country. The procedure referred to in the first and second sentences shall apply in accordance with the provisions of point 2 of the first sentence of paragraph 3, in so far as the proceeds are infused to an investor or are deemed to have been received by an investor, who shall be subject to the provisions of the legislation of a Member States of the European Union or of the European Economic Area, within the meaning of Article 54 of the Treaty on the Functioning of the European Union or Article 34 of the Agreement on the European Union Economic area with the head office and place of management within the territory of one of these Member States, and which is comparable to a body within the meaning of Article 5 (1) (3) of the Corporate Tax Law, in so far as it is a company established in accordance with the legislation of a Member State of the European Economic Area or a company with a place and management in that State, is also a condition for an administrative assistance agreement with that State. (7) For the calculation of the retained and deducted capital gains tax in accordance with Section 36 (2) of the Income Tax Act or the refund thereof pursuant to Section 50d of the Income Tax Act, the Provisions of the Income Tax Act accordingly. (8) For the supplementary application of the provisions of the Income Tax Act concerning the capital gains tax deductions in paragraphs 3 to 6, the domestic investment company is a domestic investment company. Credit institution is the same. In addition, the domestic capital investment company is subject to the permitted safekeeping and management of investment shares in respect of the application of the provisions of the Income Tax Act to the capital gains tax deductions of a domestic Credit institution is the same.

Footnote

(+ + + § 7: For application, see Section 21 (2), (7), (13), 15, 17, 19, 20 + + +) Unofficial table of contents

§ 8 Sale of investment shares; loss of assets

(1) The revenues from the return, sale or withdrawal of investment shares are to be applied to § 3 (40) of the Income Tax Act, § 4 (1) of this Act as well as § 19 of the REIT Act, insofar as they are referred to there by the investor. no revenue or income which has not been adopted or which is in the form of an infed or which has already been realised or which has not yet been realised, from the investment fund's participation in entities, persons ' associations or assets, the Benefits to the recipient of the revenue within the meaning of Article 20 (1) (1) of the Income tax law (positive share gain). § 8b of the Corporate Tax Act and Section 19 of the REIT Act are to be applied to the income from the return, sale or withdrawal of investment shares in the operating assets, insofar as it has already been realized or has not yet been implemented. Profits from the investment fund's participation in entities, persons ' associations or assets of which the recipient is a member of the income within the meaning of Section 20 (1) (1) of the Income Tax Law. Section 15 (1a) and § 16 (3) shall remain unaffected. In the case of investments by the investment fund, the rates 1 to 3 shall apply accordingly. In the case of the value of the value referred to in Article 6 (1) (2), second sentence, of the Income Tax Act, the rates 1 to 4 shall be applied accordingly. (2) In the case of investment within the investment fund, the investor is subject to Section 3c (2) of the Income Tax Act. Income Tax Act and § 8b of the Corporate Tax Act to the extent that the impairment of assets of the investment fund is accounted for by entities, persons ' associations or property funds, the benefits of which are attributable to the recipient of the income tax. the revenue within the meaning of Section 20 (1) (1) of the Income Tax Act; Losses of assets arising from economic goods to which the proceeds of Article 4 (1) are to be applied shall not reduce the income (negative share gain). In the case of investments by the investment fund in other investment funds, the first sentence shall be applied accordingly. The rates 1 and 2 shall not apply to investments of the investment fund to domestic REIT-share companies or other REIT entities, persons ' associations or assets in the sense of the REIT Act. (3) The one referred to in paragraphs 1 and 2 the part of the revenue taken into account shall, subject to a correction in accordance with sentence 4, be the difference between the share gain on the withdrawal price at the time of the sale on the one hand and the share gain on the withdrawal price at the time of the sale Acquisition on the other hand. In the case of a lower partial value, the part to be taken into consideration in accordance with Section 3c (2) of the Income Tax Act and Section 8b of the Corporate Tax Law, subject to a correction in accordance with sentence 4, is the difference between the share gain on the the relevant withdrawal price at the time of the valuation, on the one hand, and the share gain on the withdrawal price at the time of purchase on the other hand, to the extent that this difference has affected the balance sheet approach. The same applies in the case of profits arising from the approach of the value referred to in § 6 (1) No. 2 sentence 3 of the Income Tax Act for the determination of the part to be taken into account in accordance with § 3 No. 40 of the Income Tax Act or § 8b of the German Income Tax Act. Corporate tax law. The parts to be taken into account in accordance with the sentences 1, 2 and 3 shall be one after the sentences 2 and 2, respectively. 3. to rectify the relevant return price at the end of the previous marketing year, in so far as it has had an impact on the balance sheet approach. (4) If an investment company of its investigative and financial statements is No obligation to publish in accordance with Section 5 (2), the investment share shall be deemed to have been returned and returned to in-company investors as the return price published at the same time as the last share gain. The income tax or corporation tax due to the profit margin shall be deemed to be non-interest. In the event of a subsequent return or sale of the investment part, the payment shall end with the return or disposal. § 3 No. 40 of the Income Tax Act and Section 8b of the Corporate Tax Law are not applicable to the investment shares deemed to be purchased. (5) Profits from the return or disposal of investment shares which are neither a Operating assets are still part of the income tax income pursuant to § 22 No. 1 or No. 5 of the Income Tax Act, are part of the income from capital assets within the meaning of § 20 (2) sentence 1 no. 1 of the Income Tax Act; § 3 No. 40 and § 17 of the Income Tax Act The Income Tax Act and § 8b of the Corporate Tax Act are not applicable. Negative revenue in accordance with Section 2 (1) sentence 1 is to be deducted from the acquisition costs of the investment part, from the disposal proceeds of the investment component, from the acquisition costs of the investment part. In addition, the proceeds of disposal shall be reduced by the same income as received during the period of ownership, as well as by the amount of compensation paid on the part of the investment company and payable on the part of the investment company, and by a reduction claim. increased tax within the meaning of Section 4 (2), Section 7 (3) and (4). If income equal to the distribution has been distributed in a later financial year during the period of ownership, these are to be added to the proceeds of the disposal. The profit from the sale or return shall be increased by the amounts distributed during the period of ownership of the investor, which pursuant to section 21 (1) sentence 2 in conjunction with § 2 para. 3 no. 1 in the version of the Law are tax-exempt. In addition, the capital gain is to be increased by the amount of the substance delivered during the time of ownership of the investor, as well as by the amounts which during the period of ownership due to the reduction of wear or substance reduction in the sense of the § § § § 3 (3), second sentence, tax-free. In addition, in determining the profit, the cost of acquisition and the proceeds of disposal shall not be taken into account by the percentage of the investment company in connection with the date referred to in Article 5 (2) for the application of paragraph 1, in connection with the date of issue of the investment company. (6) A tax withdrawal shall be effected from the proceeds of the return or disposal of investment shares. The basis for the capital gains tax deductions is also the profit referred to in paragraph 5 in the case of investment shares which are part of an operating assets. The provisions of the Income Tax Act, which apply to the tax deductions of capital gains pursuant to § 43 (1) sentence 1 No. 9 and the second sentence of the Income Tax Act, include the provisions of § 43 (2) sentences 3 to 9 and section 44a (4) and (5) respectively. , In the case of the direct return of investment shares to a domestic capital investment company or investment company, the investment company shall carry out the capital gains tax deductions in accordance with the rates 1 to 3; this tax deduction shall be replaces the tax deduction by the paying agency. (7) § 15b of the Income Tax Act is due to losses arising from the return, sale or removal of investment shares as well as losses by the lower partial value of the tax deduction. (8) An investment percentage shall apply to: Expiry of the financial year in which a notice of determination pursuant to Section 1 (1d) sentence 1 has become indisputable, as a diversion. A share of an investment company shall be deemed to be purchased at the same time. The redemption price at the end of the financial year in which the notice of determination has become indisputable shall be deemed to be the disposal proceeds of the investment component and as the acquisition cost of the investment company share. If no withdrawal price is fixed, the stock exchange or market price shall be replaced. Capital gains tax is not to be withheld and to be deducted. In addition, the above paragraphs shall apply. The suspended tax shall be deemed to be interest-free until the actual disposal of the share is deemed to be interest-free.

Footnote

(+ + + § 8: For application cf. Section 21 (2), (2a), (2b), (5), 22 + + +)
(+ + + § 8 (4) and 8: For use, see Section 15 (1) and § 16 sentence 1 + + +)
(+ + + § 8 (6): For application, see Section 19 (3) + + +) Unofficial table of contents

§ 9 Compensation

The individual amounts contained in the distributed and distributed income within the meaning of § § 2 and 4 as well as the chargeable or peerable foreign withholding tax are the parts of the issue price for which this is the case. the shares issued. The revenue and intermediate profits referred to in Article 1 (4) shall be increased by the application of a profit-equalisation procedure in order to increase the part of the output price for the shares to be issued. Unofficial table of contents

§ 10 Roof-Investment Fund

In the case of income from an investor from investment shares, which are derived from investment funds ' proceeds from shares in other investment funds, § 6 shall apply in so far as the tax bases of the roof investment fund within the meaning of Section 5 (3) (a) of the German Investment Fund ("mutual fund") are applicable. 1 shall not be established. To the extent that target investment funds do not meet the requirements of § 5 (1), the taxable income of the target investment fund shall be attributed to the taxable income of the roof investment fund in accordance with § 6. The above sentences are also to be applied to master-feeder structures within the meaning of § § 171 to 180 of the capital investment code.

Footnote

(+ + + § 10: For application, see Section 21 (20) + + +)

Section 2
Rules only for domestic investment funds

Unofficial table of contents

Section 11 Tax exemption and external audit

(1) The special property of domestic law shall be deemed to be a special purpose within the meaning of Section 1 (1) point 5 of the Corporate Tax Law and as other legal entity under private law within the meaning of Section 2 (3) of the Trade Tax Law. A domestic investment fund in the legal form of a special assets or an investment company with variable capital is exempt from corporate income tax and business tax. A domestic investment fund in the legal form of an open investment service company is exempt from the business tax. Sentence 2 shall not apply to:
1.
income earned by the investment company with variable capital or its partial company assets from the management of the assets, or
2.
Income of the investment company with variable capital or its partial company assets, which are attributable to corporate shares, unless it has been made to the forgiveness of the investment company pursuant to Article 109 (1) sentence 1 of the Capital Investment Code Investment shares waived.
The rates 1 and 2 shall also apply to investment funds within the meaning of Article 1 (1) (2). (2) The capital gains tax retained and paid by the capital gains of the domestic investment fund shall be applied to the investment fund, by means of the Depositary shall be reimbursed in so far as it is not to be deducted from the tax deductible under Section 44a of the Income Tax Act; this shall also apply to the solidarity surcharge deducted and deducted as a supplement to the capital gains tax. In the case of capital gains within the meaning of § 43 (1) sentence 1 (1) and (2) of the Income Tax Law, the depositary shall apply the provisions of Section 44b (6) of the Income Tax Law accordingly; in the case of the other capital gains, except capital gains as defined in § 43 In the first sentence of paragraph 1 (1a) of the Income Tax Law, the tax office to which the capital gains tax has been paid shall reimburse the capital gains tax and the solidarity surcharge upon request to the depositary. In addition, the provisions of the Income Tax Act concerning the distance between tax deductions and the reimbursement of capital gains tax are to be applied in the case of unrestricted income-tax creditors. The non-investment certificate required under the Income Tax Act shall be replaced by a certificate issued by the financial office responsible for the investment fund, confirming that an earning capacity or a specific purpose or a (3) The domestic investment fund is an external audit within the meaning of the § § 194ff. the tax system shall be admissible in order to determine the tax ratios of the investment fund, for the purpose of examining the reports in accordance with § § 101, 120 and 135 of the capital investment code and the tax bases according to § 5.

Footnote

(+ + + § 11 (1) and 2: For the first time, see Section 21 (17), (20), (21) + + +) Unofficial table of contents

Section 12 payout decision

The domestic investment company shall decide on the use of the amounts available for the distribution and shall document the decision in writing. The decision shall contain information on the composition of the payout. It shall also contain information on the amounts not yet distributed, which are not covered by Section 23 (1). Unofficial table of contents

Section 13 Separate determination of the tax bases

(1) The tax bases within the meaning of Section 5 (1) shall be determined separately from the investment company. (2) The investment company shall have a declaration of special determination no later than four months after the end of the financial year. of the tax bases. If a decision on a distribution is taken within four months of the end of the financial year, the declaration as set out in the first sentence shall be made no later than four months after the date of the decision. The declaration of arrest is the annual report, the certificate in accordance with § 5 (1) sentence 1, point 3, the payout decision in accordance with § 12 and a transfer invoice, which shows how the investment-law accounting is the (3) The declaration of determination shall be the same as a separate declaration. The investment company has to make known the declared tax bases at the same time in the Federal Gazette. (4) If the tax office finds material errors of the separate determination referred to in the first sentence of paragraph 3, the difference amounts between the two the declared tax bases and the applicable tax bases should be identified separately. Where the tax bases disclosed in the second sentence of paragraph 3 differ from the declaration of order, the differences between the tax bases disclosed in the second sentence of paragraph 3 and the declared tax bases shall be the difference between the amounts of the tax bases and the tax bases declared pursuant to paragraph 3 separately. The investment company shall take into account the difference amounts in the declaration of determination for the financial year in which the determination according to the sentences 1 and 2 has become indisputable. § § 129, 164, 165, 172 to 175a of the levy system shall not apply to the separate determination referred to in the first sentence of paragraph 3 and the first sentence of paragraph 4 and to the second sentence of paragraph 4. A separate statement in accordance with sentences 1 and 2 shall be allowed until the expiry of the period of notice applicable to the determination referred to in the first sentence of paragraph 3. (5) Local authority is the tax office in whose district the Executive Board of the the capital management company of the investment fund, or in the cases referred to in Article 1 (2a), third sentence, point 1 (b), in the district of which the branch is established, or in the cases of section 1 (2a), third sentence, point (1) (c), in which: District is located the management of the domestic depositary.

Footnote

(+ + + § 13 para. 2: For the first application, see: Section 21 (14) + + +)
(+ + + § 13 (4): For application, see Section 21 (8) + + +)
(+ + + § 13 (5): For the first application, see Section 21 (20) + + +) Unofficial table of contents

Section 14 Merger of investment funds and parts of investment funds

(1) The following paragraphs 2 to 6 shall apply only to the merger within the meaning of Section 189 of the Capital Investment Code, with the sole participation of domestic special assets. (2) The transferable special assets shall have the assets to be transferred and liabilities that are part of the net inventories, with the acquisition costs less dislocations for wear and/or substance reduction (continued acquisition costs) at its end-of-year end (transfer date). A transfer date determined in accordance with § 189 (2) sentence 1 of the capital investment code shall be deemed to be the end of the financial year of the transferable special assets. (3) The receiving special assets shall have the following day at the beginning of the day following the transfer date. the assets and liabilities taken over with the continuing acquisition costs. The receiving special assets enter into the tax legal position of the transferable special assets. (4) The issuance of the shares in the acquiring special assets to the investors of the transferring special assets does not apply as a swap. The acquired shares in the receiving special assets shall be replaced by the shares in the special assets that are transferred. If the investors of the transferable special assets receive a cash payment within the meaning of section 190 of the capital investment code, they shall be deemed to be income within the meaning of Section 20 (1) (1) of the Income Tax Law if they do not take up the investor's holding, an achievement pursuant to section 22 (1) sentence 3 (a) (aa) of the Income Tax Act or an achievement pursuant to Section 22 (5) of the Income Tax Law; § 3 (40) of the Income Tax Act and § 8b (1) of the Income Tax Act Corporate tax law and § 5 are not applicable. The cash payment shall be treated as a payout of any other income or as part of the payout in accordance with § 6. (5) The non-distributed net income of the last financial year of the transferring special assets shall apply to the non-distributed income. Investors of this special assets with the expiry of the transfer date as allocated. This does not apply if the income according to § 2 (1) sentence 1 is part of the income tax income pursuant to § 22 Nr. 1 or 5 of the Income Tax Act. Income equal to income shall also be treated as the non-taxable income of the transferable special assets. (6) The share gain according to § 5 (2) shall be determined by the determination of both special assets, and the share gain may vary. Do not change the investment part through the transfer. If only one of the two special assets determines the share gain, the investment shares of the special assets, which up to now have determined and published a share gain, shall be applied in accordance with Section 8 (4). (7) Paragraphs 2 to 6 shall be applied accordingly, if, in the case of a transfer of all assets in accordance with the capital investment code, all assets are transferred by way of the investment in kind
1.
a special asset to an investment firm with a variable capital or to a partial company assets of an investment company with variable capital,
2.
a partial company assets of an investment company with a variable capital to another entity assets of the same investment company with variable capital,
3.
a partial company assets of an investment company with a variable capital to a partial company assets of another investment company with variable capital,
4.
an investment company with a variable capital or a partial company assets of an investment company with a variable capital to a special asset or
5.
an investment company with variable capital on another investment firm with a variable capital or a partial company assets of another investment company with a variable capital
shall be transferred. Sentence 1 shall not apply if a special special fund according to § 1 (6) and (10) of the capital investment code or a partial vestment of such a special assets or a special investment company with variable capital in accordance with Article 1 (6), in conjunction with Chapter 1, Section 4, Subsection 3 of the Capital Investment Code, or a part-company assets of such an investment firm, as a transferring or receiving investment fund. (8) simultaneous transfer of all assets of several Special assets, sub-shareholders ' assets or investment companies on the same special assets or part-company assets or the same investment company with variable capital is permissible.

Footnote

(+ + + § 14: For the first application, see Section 21 (18), 20 + + +) Unofficial table of contents

§ 15 Special special investment funds

(1) In the case of domestic special assets or investment companies with variable capital, which do not have more than 100 investors on the basis of a written agreement with the capital management company or on the basis of their statutes, or Shareholders who are not natural persons (special investment funds) are not to be applied to § 1 (1d), § 4 (4), § 5 (1) and § § 6 and 8 (4) and 8 (8). The first sentence of Article 5 (2) is to be applied with the proviso that the investment company is obliged to determine the share gain for corporate bodies, persons ' associations or assets in each valuation of the investment fund; the publication of the share gain. In order to determine the tax bases, Section 180 (1) (2) (a) of the Tax Code shall apply accordingly; the declaration of determination shall be subject to a separate and uniform determination subject to the reservation of the verification, a The statement of the statement of notice shall be deemed to be an amendment. Section 13 (1), (3) and (4) shall not apply. Non-balanced negative earnings within the meaning of Section 3 (4) sentence 2 are eliminated insofar as an investor divest or returns his investment shares. In the cases of § 14, this shall also apply insofar as the participation rate of the investor in each case is reduced to the special assets involved. Section 32 (3) of the Corporate Tax Law shall apply accordingly; the investment company shall carry out the capital gains tax deducting. The capital gains tax in accordance with sentence 7 and § 7 shall be paid by the investment company within one month of the date on which the capital gains tax are incurred. Until that date, the investment company shall have a tax declaration in accordance with the officially prescribed data record by electronic means in accordance with the tax data transfer ordinance of 28 January 2003 (BGBl. 139), as last amended by Article 8 of the Regulation of 17 November 2010 (BGBl I). 1544), as amended, to be submitted in the relevant version. In the context of the supplementary application of the provisions of the Income Tax Act on tax deductions, § 44a (6) and § 45a (3) of the Income Tax Act are not applicable. (1a) In the case of investment funds within the meaning of the first sentence of paragraph 1, the following shall be applied: by way of derogation from the first sentence of Article 2 (2) and the first sentence of Article 8 (1), Section 8b of the Corporate Tax Law. The condition for the application of the first sentence on investment income is that the investment fund's participation is at least 10% of the basic or capital stock, the assets or the sum of the business assets, and that the investment fund's contribution to the investment is not the amount of the investment fund to be attributed to individual investors is so high that the participation in the entity, the association of persons or the assets of the individual investor, which is proportional to the individual investor, is at least 10 per cent of the reason or the capital, the assets or the sum of the business assets. For the purpose of calculating the shareholding limit, the investment fund shall be subject to the level of participation in the body, the association of persons or the assets of the property at the time when the contribution to the shareholding shall be the same as that of the investment fund. Income from the investment fund; the investor ' s share of the investment fund shall be deducted at the end of the financial year. Investment shares held by a co-company are to be attributed to the co-contractor on a pro rata basis on the basis of the general profit scale. An investor via a direct share of an investment fund and through a share held by a co-corporate entity in the same investment fund in the same body, association of persons, or Wealth funds are to be combined. A aggregation of shareholdings in entities, associations of persons or assets which are to be attributed to the investor through other investment funds or without the involvement of an investment fund is to be found in the respective investment fund. not instead. If the investor is already directly involved in the basic or capital stock of a corporation, association of persons or assets, the shareholding limit shall also be deemed to have been exceeded if the investor is present at this the body, the association of persons or the assets of an investment fund shall also be involved in an investment fund where the investor has demonstrated the level of direct participation in relation to the investment company; an investment fund shall be indirectly Participation shall be considered as a direct participation. Securities and investment shares issued by the investment fund as well as investment shares paid by the investor shall be attributed to the distributor for the purpose of calculating a shareholder. Partial funds or partial social assets are the same for the application of the above rates to an investment fund. (2) Income from leasing and leasing of domestic land and the same rights and profits from private property Disposal transactions with domestic land and the same rights are to be disclosed separately. In the case of limited taxable investors, these income shall be deemed to be directly related income pursuant to § 49 (1) (2) (f), (6) or (8) of the Income Tax Act. This also applies to the application of the rules in double taxation agreements. Capital gains tax of 25% shall be withheld from the proceeds of the proceeds by the investment company; the first sentence of the first sentence of paragraph 1 shall apply accordingly. Section 50 (2), first sentence, of the Income Tax Law shall not apply. (3) An investment share in a special investment fund shall be deemed to have been sold at the end of the preceding financial year of the Special Investment Fund, in which the Special investment fund has amended its investment conditions in such a way that the conditions set out in Article 1 (1b) are no longer fulfilled or in which there is a substantial infringement of the investment provisions of Section 1 (1b). The redemption price shall be deemed to be the disposal proceeds of the investment component and as the acquisition cost of the share in the investment company. If no withdrawal price is fixed, the stock exchange or market price shall be replaced. Capital gains tax is not to be withheld and to be deducted. The Special Investment Fund shall be deemed to be an investment company for a period of three years.

Footnote

(+ + + § 15: For application, see § 21 para. 2, 3, 9, 10, 20, 22 + + +) Unofficial table of contents

Section 15a Open investment commanding company

(1) § 15 applies to open investment service companies within the meaning of § 1 paragraph 1f number 3 accordingly. Section 15 (3) shall apply mutaly if the conditions set out in Section 1 (1) (3) are no longer fulfilled. (2) The rules applicable to the determination of income of a provider of a special investment fund shall be applied to the investors of to apply accordingly open investment service companies. Section 6 (1) (2) of the Income Tax Act shall apply in accordance with Section 6 (1) (2) of the Income Tax Act for the purposes of the valuation of a share of an open investment partnership within the meaning of paragraph 1. (3) The participation in an open investment service in the sense of the Paragraph 1 shall not lead to the creation or pro rata of an establishment of the shareholder. The income of the open investment enterprise within the meaning of paragraph 1 shall be deemed to be non-industrial. Section 9 (2) of the Trade Tax Law shall not apply to shares in the profit of an open investment service company within the meaning of paragraph 1. (4) If an asset becomes a business assets of the investor in the company's assets, of an open investment service provider, is to be used in the transfer of the partial value.

Section 3
Regulations only for foreign investment funds

Unofficial table of contents

§ 16 Foreign Special Investment Funds

In the case of foreign AIF, whose shares are held by no more than 100 investors who are not natural persons (foreign special investment funds), § 1 (1d), § 4 (4), § 5 (1) sentence 1 (1) (5) sentence 3 and § § 6 and 8 (4) and (8) shall not apply. Section 5 (1), first sentence, no. 3 shall apply with the proviso that the investment company shall be able to see from the notice in the Federal Gazette if it communicates the data to the investors. The second sentence of Article 15 (1) and (1a) shall apply accordingly. The first sentence of Article 15 (1) shall apply accordingly. Section 15, paragraph 1, sentence 6 shall apply mutatily in cases of § 17a. For foreign special investment funds with at least one domestic investor, the foreign investment company has a certificate issued by the Federal Central Office for Taxes within four months of the end of the financial year. to provide professional assistance to professionals within the meaning of Section 3 of the Tax Consultation Act, an audit office recognised by the public authority or a comparable body stating that the information provided in accordance with the rules of German tax law. If, within four months of the end of the financial year, the foreign special investment fund takes a decision on the payout, the time limit as set out in the first sentence shall not begin until the date on which the payout decision has been taken. Section 15 (3) shall apply accordingly.

Footnote

(+ + + § 16: For the first application, see Section 21 (10), (19), (22) + + +) Unofficial table of contents

Section 17 Representative

The representative of a foreign investment company within the meaning of Section 317 (1) (4) and § 319 of the Capital Investment Code shall not be deemed to be a permanent representative within the meaning of Section 49 (1) (2) (a) of the Income Tax Act and § 13 the tax regime, insofar as it represents the foreign investment company in court or out of court, and in doing so does not determine the investment of the money in question nor does it take action in the distribution of the foreign investment shares. Unofficial table of contents

§ 17a Effects of the merger of foreign investment funds and parts of such an investment fund on another foreign investment fund or part of such an investment fund

The investor of an investment fund in an investment fund subject to the law of another Member State of the European Union shall be subject to the merger of investment funds subject to the same supervisory law, § 14 (4) to (6) and 8 accordingly, if:
1.
the rules of the State of the investment fund under Article 189 of the Capital Investment Code are fulfilled, and this is demonstrated by a confirmation of the body responsible for the investment supervision; and
2.
the receiving investment fund shall continue the continuing acquisition costs of the transferring investment fund for the determination of the investment income and, for that purpose, a certificate of a professional support authorized for the purpose of business assistance in the The terms of Section 3 of the Tax Consultation Act, an officially recognised accounting firm or a comparable body.
The Member States of the European Union shall be equal to the Member States to which the Agreement on the European Economic Area is applicable, provided that between the Federal Republic of Germany and the other State, under the terms of the administrative assistance directive, 2 (2) of the EU mutual assistance act, or a comparable two-or multi-sided agreement, is to be supplied with information necessary for the purpose of carrying out the taxation. The certificates referred to in the first sentence shall be submitted to the Federal Central Office for Taxation. Section 5 (1), first sentence, No. 5 shall apply accordingly. The provisions of sentences 1 to 4 shall apply mutaly if all the assets of a part of an investment fund defined in accordance with the investment law of the host State are transferred, or where such part of an investment fund is transferred to all assets by another investment fund or by a part of an investment fund defined in accordance with the investment law of the Member State in which the investment is based. In accordance with Article 14 (7), second sentence and paragraph 8, the second sentence of Article 14 (7) does not apply to the transfer of all assets of a special assets to another special fund.

Footnote

(+ + + § 17a: For application cf. Section 21 (16), (18), (20), (23) + + +)
§ 17a Sentence 1 no. 2 italic print: Gem. Art. 1 No. 19 (b) DBuchst aa G v. 18.12.2013 I 4318 in § 17a sentence 1 no. 2, the words "investment wealth" are replaced by "mutual funds" mWv 24.12.2013. In addition to the change statement, the item description has also been replaced

Section 4
Common rules for domestic and foreign investment companies

Footnote

Section 4 (title before § 18 italics): Should the content overview be idF d. Art. 1 No. 1 Buchst. l G v. 18.12.2013 I 4318 mWv 24.12.2013 "Regulations" Unofficial table of contents

§ 18 Persons-Investment companies

Persons investment companies are investment companies in the legal form of an investment service company or a comparable foreign legal form. For these, the income in accordance with Section 180 (1) (2) of the Tax Code shall be determined separately and in a uniform manner. The income shall be taxed by investors in accordance with the general tax regulations. Unofficial table of contents

Section 19 Capital investment companies

(1) Capital investment companies are all investment companies which are not persons-investment companies. Capital investment companies in the legal form of a special asset shall be deemed to be the assets within the meaning of Section 1 (1) (5) of the Corporate Tax Law and other legal persons under private law within the meaning of Section 2 (3) of the German Corporate Tax Act. Industrial tax law. Foreign capital investment companies which are not capital companies shall be deemed to be assets within the meaning of Section 2 (1) of the Corporation Tax Act and other legal persons under private law as defined in Section 2 (3) of the German Corporate Tax Act. (2) In the case of investors who hold their investment company share in private property, the payouts are considered income within the meaning of Section 20 (1) (1) of the Income Tax Act. § 8b of the Corporate Tax Law and § 3, point 40 of the Income Tax Act are to be applied if the investor proves that the capital investment company
1.
is established in a Member State of the European Union or in another State Party to the Agreement on the European Economic Area, where it is subject to the taxation of profits for capital companies and is not exempt from it, or
2.
is established in a third country and is subject to a profit tax for capital companies of at least 15 per cent, and is not exempt from it.
The domestic paying agency has to withhold from the payouts of a capital investment company capital gains tax and to pay off. The provisions of the Income Tax Act applicable to the tax deductions of capital gains as defined in Section 43 (1), first sentence, point 1 or point 1a, as well as the second sentence of the Income Tax Act, shall be applied accordingly. In the case of distributions of foreign capital investment companies, the provisions applicable to the tax deductions of capital gains within the meaning of Section 43 (1), first sentence, point 6 of the Income Tax Act shall be applied accordingly. (3) Profits or losses arising from the return or disposal of capital investment company shares which are not part of an operating assets are income within the meaning of Section 20 (2), first sentence, point 1 of the Income Tax Act. The disposal also applies to the full or partial liquidation of the capital investment company. § 8b of the Corporate Income Tax Act and § 3, point 40 of the Income Tax Act shall apply under the conditions set out in the second sentence of paragraph 2. The regulations for the deduction of the capital gains tax in accordance with § 8 paragraph 6 are to be applied accordingly. (4) By way of derogation from Section 7 (7) of the Foreign Tax Act, § § 7 to 14 of the Foreign Tax Act shall remain applicable. To the extent that an amount of an invoice has been added in accordance with the first sentence of Article 10 (1) of the External Tax Act, the amount of the income tax and disposal profit shall be § 3, point 41 of the Income Tax Act. In addition, the distributions and divestments of the taxation shall be subject to the above paragraphs. Unofficial table of contents

Section 20 Conversion of an investment company into an investment fund

If an investment company changes its investment conditions and the actual investment behaviour in such a way that the conditions of Article 1 (1b) have been met, the investment company's application for taxation shall be subject to the conditions laid down in Article 1 (1) of the Income competent tax office or, incidentally, the Federal Central Office for Taxes determine the existence of the conditions. The minimum period of three years shall be taken into account in accordance with Article 1 (1d) sentence 3. Section 1, paragraph 1d, sentence 4 and 5 shall apply accordingly. At the end of the financial year in which the notice of determination has become unquestionable, the share in the investment company shall be deemed to have been sold and the share of an investment fund shall be deemed to be purchased. Capital gains tax is not to be withheld and to be deducted. The redemption price at the end of the financial year in which the notice of determination has become indisputable is to be used as the disposal proceeds of the investment company part and as the acquisition cost of the investment part. If no withdrawal price is fixed, the stock exchange or market price shall be replaced. The suspended tax shall be deemed to be interest-free until the actual disposal of the share is deemed to be interest-free.

Section 5
Application and transitional provisions

Unofficial table of contents

Section 21 Application requirements before the entry into force of the AIFM Tax Adaptation Act

(1) This version of the law shall, subject to the second sentence and the following paragraphs, apply for the first time to the proceeds of an investment asset which is to be paid to the investment assets after 31 December 2008. On distributed profits from the sale of securities, futures and subscription rights to shares in capital companies in which the investment assets acquired the securities or subscription rights before 1 January 2009, or In the version to be applied on 31 December 2008, Section 2 (3) (1) shall continue to be applied to investment assets before 1 January 2009. The terms used in § 21 of investment assets, audience investment assets, target investment assets and roof investment assets shall continue to be determined in accordance with this Act and the investment law as amended on 21 July 2013. (2) § 7 Paragraphs 1, 3 and 4 in the version of Article 8 of the Law of 14 August 2007 (BGBl. 1912) shall be applied for the first time to the capital gains which will be paid to the investor after 31 December 2008 or which are deemed to have been granted. § 8 (5) and (6) in the version of Article 14 of the Law of 19 December 2008 (BGBl. 2794), subject to paragraphs 2a and 2b, shall be applied for the first time to the return or disposal of investment shares acquired after 31 December 2008. Section 15 (2) in the version of Article 8 of the Law of 14 August 2007 (BGBl. 1912) shall be applied for the first time to income accruing to the investor after 31 December 2008 or which are deemed to be granted. (2a) On the sale or return of shares in special domestic special assets, domestic Special investment companies or foreign special investment assets acquired after 9 November 2007 and before 1 January 2009 are already subject to Section 8 (5) of the version referred to in the second sentence of paragraph 2, with the exception of the sentence 5. , The first sentence shall apply to the return or disposal of shares in other investment assets in respect of which the participation of natural persons by the investor of the investor by the law, the articles of association, the social contract or the conditions of investment depending on or for the participation, a minimum amount of EUR 100 000 or more is required. The law, the articles of association, the social contract or the conditions of investment shall be governed by the terms of the present subject. However, as a profit, the sum of the capital gains made by the investment property shall not exceed the sum of the capital gains which are based on the investment assets and shall not be applied to the second sentence of paragraph 1; the investor shall be required to prove that lower value. § 8 (6) shall not apply to the capital gains within the meaning of this paragraph; Section 32d of the Income Tax Act shall apply in accordance with the version to be applied after 31 December 2008. (2b) On the return or disposal of shares in Public investment assets whose investment policy is aimed at achieving a money market return and whose futures and securities capital gains are offset by settlement with corresponding losses before the cost of the money market Yield compensation in accordance with the annual report of the last year ending 19 September 2008 § 8 (5) sentences 1 to 4 and 6 as well as paragraph 6 in the version referred to in the second sentence of paragraph 2 also for shares purchased before 1 January 2009 shall be the ordinary income before the settlement of expenses without compensation for income. unless the shares were purchased prior to September 19, 2008; for newly designed public investment assets, the first financial year ending after September 19, 2008 shall be terminated. The sale or return of shares within the meaning of the first sentence, purchased before 19 September 2008, shall be subject to the conditions laid down in the second sentence of paragraph 2 in the case of returns or divestments after 10 January 2011, (3) § 15, first sentence, sentences 7 and 8, as amended by Article 8 of the Law of 14 August 2007 (BGBl. I p. 1912) shall be applied for the first time to distributed or distributed income as far as they contain charges infused on investment assets after 17 August 2007. (4) § 7 (1) sentence 1, no. 3, sentence 2, as amended by Article 13 of the Law of 13 December 2006 (BGBl. 2878) shall apply to the return or disposal of investment shares transferred to the investor ' s depot after 31 December 2006 within the same institution. The recast may also be applied to the return or disposal of investment shares transferred to the investor ' s depot before 1 January 2007 within the same institution, if the cost of the acquisition of the investment shares has been transferred to the investor ' s disposal. (5) § 2 in the version of the Law of 28 May 2007 (BGBl. 914) shall be applied for the first time to dividends and divestment proceeds to the investment assets after 31 December 2007, or to be applied to them as a closed-off. § 8 in the version of the Law of 28 May 2007 (BGBl. 914) shall be applied for the first time in the case of the return or disposal or the valuation of an investment part after 31 December 2007. After 31 December 2007, the investment company has to take into account the recast of § 8 in the determination of the percentage according to § 5 (2). (6) § 2 (2a) and § 5 (1) sentence 1 (c), double letter in the Version of Article 23 of the Law of 20 December 2007 (BGBl. I p. 3150) shall apply for the first time to investment income received or deemed to be granted to an investor after 25 May 2007. (7) § 7 (8), as amended by Article 23 of the Law of 20 December 2007 (BGBl. 3150) is to be applied to the tax deprivation to be made after 31 December 2007. (8) Article 13 (4), as amended by Article 23 of the Law of 20 December 2007 (BGBl. 3150) shall apply to all periods of detention for which the period of detention has not yet expired. (9) § 15 (1) sentence 3, as amended by Article 23 of the Law of 20 December 2007 (BGBl. (10) § 15 (1) sentence 1 and § 16 sentence 1 in the version of this Act are for the first time after the date of entry into force of the Investment Change Act of 21 December 2007 (BGBl. (11) If shares in foreign assets are foreign investment shares in accordance with § 2 (9) of the investment law in the bis zum, but not in the, since the entry into force of the investment change law of 21 December 2007 (BGBl. 3089), they continue to be considered as foreign investment shares for the application of this Act until the end of the last financial year, which began before 28 December 2007. In the cases of § 6, such shares shall be deemed to be foreign investment shares until 31 December 2007. (12) § 1 (3) sentences 3 and 4 as well as (4) Nos. 1 and 2 in the version of Article 14 of the Law of 19 December 2008 (BGBl. 2794) shall apply, for the first time, to income accuing to investment assets after 31 December 2008 or which are deemed to have been granted. Sentence 1 shall not apply to income arising from other capital claims made before 1 January 2009 in the sense of the version of Article 20 (1) (7) of the Income Tax Act, which is to be applied after 31 December 2008 and which does not apply to the income of the investment fund. other capital requirements within the meaning of the version of Article 20 (1) (7) of the Income Tax Act, which shall be applicable before 1 January 2009. Section 3 (2), first sentence, No. 2, as amended by Article 14 of the Law of 19 December 2008 (BGBl. 2794) shall apply for the first time to income which is deemed to have been granted to investment assets after 31 December 2008; for the purposes of the application of § 3 (2) sentence 1 (2), the other capital requirements which were acquired before 1 January 2009 shall apply. (13) § 4 (2) sentence 8 and § 7 (1) sentence 1 no. 3 and sentence 3 in the version of the version of the Article 14 of the Law of 19 December 2008 (BGBl. 2794) are to be applied for the first time in the case of tax deprivation after 31 December 2008. (14) § 1 para. 3 sentence 5, § 5 para. 1 and § 13 para. 2 in the version of Article 14 of the Law of 19 December 2008 (BGBl. I p. 2794) shall apply for the first time for financial years ending after the entry into force of this Act. (15) Section 7 (4) sentence 5, as amended by Article 14 of the Law of 19 December 2008 (BGBl. 2794) must be applied to all tax applications to be issued after 31 December 2009. (16) § 17a as amended by Article 14 of the Law of 19 December 2008 (BGBl. 2794) shall apply for the first time to transfers in respect of which the transfer becomes effective after the entry into force of this Act. (17) § 7 (5), as amended by Article 9 of the Law of 16 July 2009 (BGBl. I p. 1959) shall apply for the first time to the capital gains which are deemed to have been received by the investor after 31 December 2009. Section 11, second sentence, sentence 1 and 2, as amended by Article 9 of the Law of 16 July 2009 (BGBl. (18) § § 14 and 17a in the version of Article 9 of the Law of 16 July 2009 (BGBl.). I p. 1959) are to be applied for the first time to transfers which are effective after 22 July 2009. (19) § 4 (1) and § 16 in the version of Article 6 of the Law of 8 December 2010 (BGBl. I 1768) are to be applied for the first time for financial years ending after 14 December 2010. § 5 (1) except in the first sentence of the first sentence of the first sentence of paragraph 3 and paragraph 3 in the version of Article 6 of the Law of 8 December 2010 (BGBl. I p. 1768) shall be applied for the first time for financial years beginning after 31 December 2010. Section 5 (2) shall be applied for the first time in respect of income accued to the investor after 19 May 2010 or which is deemed to have been granted. By way of derogation from the third sentence of Article 5 (2), investment companies which have decided on the first issue of shares to refrain from the determination and publication of the share gain may decide again. This decision will be made for the first application of § 5 paragraph 2 sentence 4 in the version of Article 6 of the Law of 8 December 2010 (BGBl. 1768) only if the first-time publication of the share gain takes place no later than 19 July 2010. The first publication shall be based on a net profit of zero. Section 7 (1) and (4) to (6), as amended by Article 6 of the Law of 8 December 2010 (BGBl. 1768), subject to the provisions of sentences 8 and 9, it is for the first time to apply to capital gains which will be paid to the investor after 14 December 2010 or which are deemed to have been granted. Section 7 (3), as amended by Article 6 of the Law of 8 December 2010 (BGBl. I p. 1768) shall be applied for the first time for financial years of the investment capital, which shall commend after 31 December 2010. This applies in accordance with Section 7 (1), first sentence, point 1, point (a), to the extent that this domestic real estate income is excluded from its scope. (20) § 1 (1), 1a and 2, § § 5, 10, 11 (1), § 13 (5), § § 14, 15 (1) sentence 2 and § 17a in the version of Article 9 of the Law of 22 June 2011 (BGBl. 1126) are to be applied for the first time on financial years beginning after 30 June 2011. § § 2, 11 (2) and § 15 (1) sentence 1 and 8 to 10 and paragraph 2 in the version of Article 9 of the Law of 22 June 2011 (BGBl. 1126) and § 7 in the version of Article 22 of the Law of 7 December 2011 (BGBl. 2592) shall apply, for the first time, to capital gains infused or granted to the investor after 31 December 2011, or in the cases referred to in Article 11 (2), of investment assets. By way of derogation from the fourth sentence of Article 7 (3) (4) and (4), the domestic authority shall have the capital gains tax no later than the end of the second month since the end of the financial year for the period before 1 January 2013. To retain investment assets and to 10. of the following month and to be deducted. By way of derogation from the second sentence of Article 7 (3b), second sentence, the depositary shall, at the latest with the expiry of the tax deduction amounts which have not been recovered by the depositary before 1 January 2013, shall be deducted from the tax deductible. for the third month since the end of the financial year of the investment assets and to the 10. of the following month. (21) Section 11, paragraph 2, sentence 2, as amended by Article 9 of the Law of 16 July 2009 (BGBl. 1959) shall apply in respect of capital gains infused on investment assets after 31 December 2010 and before 1 January 2012, subject to the proviso that, in the case of capital gains as defined in Section 43 (1), first sentence, point 1 of the Income Tax Act a refund of the capital gains tax under Section 44b (6) of the Income Tax Act is only admissible if the relevant shares from which the capital gains come from, at the time of the profit distribution decision, are not Ownership also
1.
in the civil property of the investment firm, or
2.
in the case of special assets in the civil property of the capital investment company or in the civil co-ownership of the investors
. Sentence 1 shall not apply in the case of capital gains from shares in the case of the acquisition of shares in a target investment property and the shares are issued to the rooftop investment assets. Section 11, paragraph 2, sentence 4, as amended by Article 8 of the Law of 26 June 2013 (BGBl. I p. 1809) shall be applied for the first time to income from investment shares infused or deemed to be granted to the investor after 31 December 2012. (22) § 2 (2), § 8 (1), § 15 (1) sentence 2 and paragraph 1a, and § 16 sentence 3 in the version Article 2 of the Law of 21 March 2013 (BGBl. I p. 561) shall apply from 1 March 2013. Section 5, paragraph 1, as amended by Article 2 of the Law of 21 March 2013 (BGBl. I p. 561) shall be applied for the first time to financial years ending after 28 February 2013. Section 5 (2) in the version of Article 2 of the Law of 21 March 2013 (BGBl. I p. 561) shall be applied for the first time to publications which shall be published after 28 February 2013. Domestic and foreign income distributed and distributed to the investor after 28 February 2013 or which are deemed to have been distributed, as far as possible, as defined in Article 43 (1) (1) (1), (1), (1a) and (6), and the second sentence of the second sentence of Article 43 (1) of the Income tax law, which was granted to the investment fund before 1 March 2013, is to be applied to § 8b of the Corporate Tax Law, with the exception of paragraph 4 and § 19 of the REIT Act. Section 8b of the Corporate Tax Law, with the exception of paragraph 4, shall be applied to the revenue referred to in Article 8 (1) from a return, sale or withdrawal of investment shares which takes place after 28 February 2013, insofar as it is there. (23) § 17a, second sentence, as amended by Article 8 of the Law of 26 June 2013, which is not yet closed or closed to the investor before 1 March 2013. (23) § 17a sentence 2 June 2013 (BGBl. I S. 1809) is to be applied from 1 January 2013. (24) In the proceeds of an investment asset, those within the meaning of section 21 (22) sentence 4 are included and end the financial year of an investment assets after 28 November 2013, is § 5 paragraph 1 In the following text, the first subparagraph of point 1 shall apply:
" 1.
the investment company shall, for each payout referred to an investment component, specify the investment identification number ISIN of the investment fund and the period to which the information relates, the following: Tax bases in the German language are known:
a)
the amount of the payout (at least four decimal places) and
aa)
the distribution of the same earnings in the previous years contained in the distribution,
bb)
substance amounts contained in the payout,
b)
the amount of the distributed yields (with at least four decimal places);
c)
those contained in the amounts distributed
aa)
Income within the meaning of Section 2 (2) sentence 1 of this Act in conjunction with Section 3 (40) of the Income Tax Act or in the case of Section 16 of this Act in conjunction with Section 8b (1) of the Corporate Tax Law,
bb)
Capital gains within the meaning of § 2 (2) sentence 2 of this Act in conjunction with Section 8b (2) of the Corporate Tax Law or § 3 (40) of the Income Tax Act,
cc)
Income within the meaning of Article 2 (2a),
dd)
non-taxable capital gains within the meaning of Article 2 (3) (1), first sentence, in the version to be applied on 31 December 2008,
ee)
Income within the meaning of section 2 (3) (1), second sentence, in the version to be applied on 31 December 2008, in so far as the income is not capital gains within the meaning of Section 20 of the Income Tax Law,
ff)
non-taxable capital gains within the meaning of Article 2 (3) in the version to be applied as from 1 January 2009,
gg)
income within the meaning of Article 4 (1);
hh)
income contained in the double letter gg, which are not subject to the advance reservation,
ii)
income within the meaning of Article 4 (2), for which no deduction has been made in accordance with paragraph 4,
jj)
(ii) income contained in double letter ii, to which § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Law or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in conjunction with § 8b (1) of the Corporate Tax Law,
kk)
(ii) the income referred to in Article 4 (2), which, in accordance with an agreement to avoid double taxation, entitles a tax on income tax or corporation tax to be charged for the purposes of calculating a tax paid as a paid tax,
b)
income contained in double letter kk, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Act or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in conjunction with § 8b (1) of the Corporate Tax Law,
mm)
Income within the meaning of § 21 (22) sentence 4 of this Act in conjunction with Section 8b (1) of the Corporate Tax Law,
nn)
(ii) income within the meaning of section 21 (22) sentence 4 of this Act, to which § 2 (2) of this Act is to be applied in the version in force on 20 March 2013 in conjunction with Section 8b (1) of the Corporate Tax Law,
oo)
income contained in double letter kk within the meaning of section 21 (22) sentence 4 of this Act, to which § 2 (2) of this Act is to be applied in the version in force on 20 March 2013 in conjunction with Section 8b (1) of the Corporate Tax Law,
d)
the part of the payout entitling the person to pay the capital gains tax
aa)
within the meaning of Article 7 (1) and (2),
bb)
within the meaning of Article 7 (3),
cc)
within the meaning of Article 7 (1), sentence 4, where, in the case of a double letter, aa is included,
e)
(dropped)
f)
the amount of the foreign tax which is attributable to the income referred to in paragraph 4 (2) contained in the distributed income, and
aa)
which, in accordance with Article 4 (2) of this Act, can be credited in conjunction with Section 32d (5) or Section 34c (1) of the Income Tax Act or an agreement to avoid double taxation, if no deduction has been made pursuant to Article 4 (4),
bb)
is included in the double letter aa and is not applicable to income, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Act or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in the connection with Section 8b (1) of the Corporate Tax Law is to be applied,
cc)
which is deductible pursuant to § 4 (2) of this Act in conjunction with Section 34c (3) of the Income Tax Act, if no deduction has been made pursuant to Section 4 (4) of this Act,
dd)
is contained in double letter cc and is not applicable to income, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Act or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in the connection with Section 8b (1) of the Corporate Tax Law is to be applied,
ee)
which is deemed to have been paid in accordance with an agreement to avoid double taxation and which, in accordance with Article 4 (2), can be credited in conjunction with this Agreement;
ff)
is included in the double letter ee and is not applicable to income, to § 2 (2) of this Act in conjunction with Section 8b (2) of the Corporate Tax Law or § 3 (40) of the Income Tax Act or in the case of § 16 of this Act in the connection with Section 8b (1) of the Corporate Tax Law is to be applied,
gg)
in the case of a double letter aa, and shall not apply to income within the meaning of the fourth sentence of Article 21 (22) of this Act, to the provisions of Section 2 (2) of this Act in the version in force on 20 March 2013 in conjunction with Section 8b (1) of the corporate tax law,
hh)
is contained in double letter cc and is not applicable to income within the meaning of section 21 (22) sentence 4 of this Act, to § 2 (2) of this Act in the version in force on 20 March 2013 in conjunction with Section 8b (1) of the corporate tax law,
ii)
is included in the double letter ee and is attributable to income within the meaning of § 21 paragraph 22 sentence 4 of this Act, to § 2 paragraph 2 of this Act in the version valid on 20 March 2013 in conjunction with Section 8b (1) of the corporate tax law,
g)
the amount of the dislocations for wear or substance reduction;
h)
the withholding tax paid in the financial year, reduced by the withholding tax reimbursed for the financial year or previous financial years; ".
Unofficial table of contents

Section 22 Application requirements for the AIFM-Tax-Adaptation Act

(1) The provisions of this Act, as amended by Article 1 of the Law of 18 December 2013 (BGBl. 4318) shall apply from 24 December 2013 to the extent that no different provisions are made in the following. The provisions of this Act in the version in force on 21 July 2013 shall continue to apply in the period from 22 July 2013 to 23 December 2013. (2) Investment assets within the meaning of this Act shall apply in the version in force on 21 July 2013. up to the end of the financial year ending after 22 July 2016, as an investment fund within the meaning of Section 1 (1b) sentence 2. A condition for the application of the first sentence is that the investment assets continue to be subject to the conditions set out in Article 1 (1) and (1a). in the version in force on 21 July 2013, as well as the conditions for investment and the limits of credit acceptance comply with the investment law in the version in force on 21 July 2013. Shares in investment assets within the meaning of sentences 1 and 2 shall be deemed to be shares in investment funds within the meaning of the second sentence of Article 1 (1b). § 1 (1d), § 15 (3) and § 16 sentence 8 in the version in force on 24 December 2013 shall apply in the case of investment assets within the meaning of the first sentence as soon as the investment assets are substantially against the conditions set out in sentence 2 above . It is considered to be an essential violation if an investment property changes its investment conditions after 23 December 2013 in such a way that the provisions applicable to hedge funds are in accordance with Section 283 of the Capital Investment Code or in accordance with § 112 of the (3) § 3 (1a) is the first to be applied to the separation of interest rates and/or interest rates, respectively, in the case of the first and second subdivisions of the investment law. Apply the interest rate receivable from the relevant stock right which will be made after 28 November 2013. Section 3, paragraph 3, as amended by Article 1 of the Law of 18 December 2013 (BGBl. I p. 4318) shall be applied for the first time to financial years beginning after 31 December 2013. (4) § 3a shall be applied for the first time in the case of distributions which shall flow after 23 August 2014. (5) § 5 (3) sentence 4 in the version in force on 21 July 2013. shall continue to be applied to investment assets within the meaning of the first sentence of paragraph 2. Unofficial table of contents

Section 23 Transitional provisions

(1) § 2 para. 3 No. 1 second half sentence in the version in force on 1 January 2004 and § 2 para. 2 sentence 2 in the version of Article 8 of the Law of 14 August 2007 (BGBl. In the case of domestic investment funds, I p. 1912) shall apply to the sale of shares in unlimited corporation-taxable corporations and subscription rights to such shares which, after the end of the first marketing year, shall: A company whose shares are sold, for which the corporation tax law is in the wording of Article 3 of the Law of 23. October 2000 (BGBl. 1433), and to other divestitures which will take place after 31 December 2000. § 8 (1) is to be applied only in respect of the income referred to in § 3 No. 40 of the Income Tax Act and in Section 8b (2) of the Corporate Tax Law, insofar as these also in the case of the distribution pursuant to § 2 para. 2 or paragraph 3 no. 1 in the on the 1. Article 8 of the Law of 14 August 2007 (BGBl), as amended by Article 8 of the Law of 14 August 2007, as amended by Article 8 of the Law of 14 August 2007. 1912). (2) § § 37n to 50d of the Law on Capital Investment Companies as amended by the Notice of 9 September 1998 (BGBl. 2726), as last amended by Article 3 of the Law of 21 June 2002 (BGBl I). 2010), the latter will be applied last year to the financial year of the domestic investment fund, which starts before 1 January 2004, as well as to the income that will be paid in this financial year. Section 40a of the law referred to in the first sentence shall be applied last time to revenue accreted before 1 January 2004 and to reductions in profits arising before 1 January 2004. The provisions contained in the Act referred to in the first sentence of the Act concerning the intermediate profit are to be applied last time to divestitures, acquisitions or agreements which take place before 1 January 2004. (3) § § 17 to 20 of the International Investment Law in the Version of the Notice of 9 September 1998 (BGBl. 2810), as last amended by Article 32 of the Law of 21 August 2002 (BGBl I). 3322), they are to be applied last year to the financial year of the foreign investment fund, which starts before 1 January 2004, as well as to the income that flows in this financial year. Section 17 (2b) of the law referred to in the first sentence of the first subparagraph shall be applied at last to the revenue accued before 1 January 2004. The provisions relating to intermediate profit contained in the Act referred to in the first sentence shall be applied last time to the divestment, acquisition or assignment, which shall take place before 1 January 2004.