Capital gains tax
The capital gains tax (abbreviated KESt , KapESt , KapErtSt or KapSt ) is a form of collection of income tax and corporation tax . It is retained as withholding tax by the paying agent (e.g. a bank, an insurance company or a corporation) paying out the investment income for the account of the creditor of the investment income and paid to the tax office.
The capital gains tax, if it is not designed as a final withholding tax , is treated like a tax prepayment in the tax assessment .
General
Investment income subject in almost all European countries, the respective income tax . In order to secure the tax claim, the income tax attributable to the investment income is often collected directly from the source by means of an investment income tax. The payer keeps them for the recipient and transfers them to the tax authorities. Even if investment income is not subject to capital gains tax, such as interest on personal loans, it does not mean that it remains tax-free. The recipient must declare the investment income in their tax return.
Capital gains tax in Germany
Capital gains tax in Austria
In Austria , capital gains tax (KESt) has been 25% (mainly bank interest) or 27.5% (other, e.g. dividends) since January 1 , 2016. The Austrian capital gains tax is designed as a final withholding tax . When the KESt is paid, the investment income is finally taxed ( Section 97 (1) EStG) and is no longer included in the calculation of taxable income. Alternatively, there is the possibility of an assessment ( Section 27a (5) EStG). In this case, the investment income is added to the total amount of income and taxed at the general tax rate ( Section 33 EStG). The standard taxation option can only be exercised jointly for all income that is subject to a special tax rate of 25% or 27.5% in accordance with Section 27a (1) EStG. In the 2010 assessment period, investment income from investments (investment income) can still be taxed at half the average tax rate in the case of the assessment option ( Section 37 (1) in conjunction with Section 37 (4) EStG old version). However, as part of the 2011 Budget Accompanying Act, Paragraph 4 of Section 37 EStG has been deleted.
The provisions of final taxation have constitutional status (final taxation law).
Due to the double taxation agreement with Germany, Germans can have 15 percentage points of the tax reimbursed on dividends from Austrian companies.
Capital gains tax in Switzerland
The Swiss capital gains tax is known as withholding tax or paying agent tax . This tax is not only designed as an income tax, but also serves as a wealth tax due to the level of the tax rate . Because bank client confidentiality is observed much more extensively in Switzerland than in other countries, the withholding tax is designed as a final withholding tax. The financial institutions (bank or insurance company) are obliged to automatically transfer 35% of the interest income from each account or security to the state. This amount will be refunded once the interest income and assets have been correctly declared. However, this does not mean that no capital gains tax is paid on balance: both at federal and cantonal level , capital gains are added to the remaining income and taxed with a progressive tax rate; the withholding tax only serves to ensure the correct declaration of capital and income.
Individual evidence
- ^ Sabine Kirchmayer: Taxation of the income of natural persons from capital assets in Austria. In: IWB. No. 5, 2011, pp. 178-188.
- ↑ Section 27a (5) last sentence of the Income Tax Act.
- ↑ BGBl. I No. 111/2010 , Art. 58 Z 22.
