Capital gains tax

The capital gains tax ( CGT, KapESt, KapErtSt or Kapst ) is a form of collection of income tax and corporation tax. As withholding tax will be withheld from investment income paying agent (eg, a bank, an insurance company or a corporation) for the account of the creditor of the investment income and paid to the tax office.

The capital gains tax is, if it is not configured as a flat tax, treated as a tax prepayment in the tax assessment.

General

Capital gains subject in almost all European countries the respective income tax. To ensure the tax claim, payable on the capital gains income tax is often directly collected at the source by means of a capital gains tax. The payer retains one for the receiver and assigns it to the tax authorities. Even if capital income is not subject to capital gains tax, such as interest on personal loans, that does not mean that they will remain tax-free. The recipient must specify the investment income in their tax return.

Between the States, the European Union and several other countries and territories of the mutual tax asset is secured on capital gains by the notification procedure or a 35% withholding tax ( "EU Savings Tax").

Capital gains tax in Germany

The capital gains tax was reformed comprehensively in terms of a final withholding tax by the Business Tax Reform Act 2008 for private investors in 2009.

Capital gains tax in Austria

In Austria, the capital gains tax ( CGT ) is a uniform 25%. The Austrian capital gains tax is designed as a flat tax. With removal of the capital gains tax on capital gains is finally taxed ( § 97Vorlage: § / Maintenance / RIS Search Section 1 of the Income Tax Act ) and is no longer included in the calculation of taxable income. Alternatively, there is the possibility of predisposition. In this case, the capital gains will be added to the total amount of income and with the general tax rate ( § 27aVorlage: § / Maintenance / RIS search) taxed paragraph 5. The standard taxation option only all income which according to ( § 27aVorlage: § / Maintenance / RIS search, Section 1 ) are subject to special tax rate of 25 %, are jointly held. In the 2010 assessment period capital income from investments ( investment income ) in the case of the investment option may be taxed at half the average tax rate ( § 37Vorlage. § / Maintenance / RIS search para 1 in conjunction with § 37Vorlage: § / Maintenance / RIS Search, Section 4 ITA version). As part of the Budget Act of 2011, § 37, paragraph 4 of the Income Tax Act was canceled.

The provisions of the final taxation are at the constitutional level ( Endbesteuerungsgesetz ).

Capital gains tax in Switzerland

The Swiss capital gains tax is referred to as withholding tax or as a paying agent tax. This tax is designed not only as income tax, but is used because of the amount of the tax rate as property tax. Because in Switzerland banking secrecy is respected much more extensive than in other states, the withholding tax is designed as a flat tax. The financial institutions ( bank or insurance company ) are required to automatically remove 35% of the interest income each account or the security of the state. This amount will be refunded after correct declaration of interest income and assets. This does not mean that no capital gains tax is paid on balance: Both at the federal level and at the cantonal level must be paid to such a normal income tax, withholding tax is only for securing a proper declaration of this income taxes.