the Federal Finance Minister, Olaf Scholz (SPD) has announced the abolition of the withholding tax of 25 percent on capital gains in this legislature. “Fair would it be to capture such income with the income tax law,” said Scholz of the “Rheinische Post”. “Therefore, we have agreed that we want to abolish the withholding tax in this legislative session,” said the Minister.
The flat-rate withholding tax was introduced in 2009 by Ex-Finance Minister Peer Steinbrück (SPD) and the former Grand coalition. It should be an incentive to bring in foreign accounts deponiertes money back to Germany and is taxed properly. Many wealthy Taxpayers obtained an advantage, because your personal average income tax rate is higher than 25 percent.
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steinbrück’s calculus was to achieve at the same time, higher tax revenues, and because earlier black could be reported to the money to the financial institutes. It is disputed whether the works: The revenue from the tax on interest and capital gains have, since 2009, more than halved – due to the massive decline in interest rates. (Tsp, Reuters)
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