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@DividendenWaschbaer I have a custody account with DKB specifically for dividend securities with the option of reducing withholding tax at source. If you submit the application there, the withholding tax rate is reduced to 15% and you can get this 15% back in full via the KAP income tax return. This is based on the double taxation agreement with some countries. In Japan, for example, you can be completely exempt from withholding tax.
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•11Mo
@DividendenWaschbaer PS: I knew $MOWI, but not the other two. Interesting values! Many thanks! 🥰
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•@Kohlmeyse The cost of this exemption will be more expensive in January, right? Or does that count towards the French exemption? I was also thinking about opening a DKB custody account for this in the future. However, if they increase this to €30 (per country), then it will take me a very long time before it pays off for me 😅 But it would be interesting. Especially for my Japanese too.
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11Mo
@DividendenWaschbaer Here is a list of the DKB for reduction: Finland (dividends) France (dividends) Israel (dividends) Italy (dividends) Italy (interest) Japan (dividends) Canada (dividends) Norway (dividends) Portugal (dividends) Sweden (dividends) Spain (interest) South Africa (dividends) South Korea (dividends) Czech Republic (dividends) However, you have to apply for each country individually. The costs are €11.99. DKB will provide you with the documents on request.
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•11Mo
@DividendenWaschbaer If you need more information or help, please feel free to get in touch.
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•@Kohlmeyse Do you have any information about when and whether the costs will increase for all countries? I read that this exemption will cost €30 (per country) from 2024. Then it definitely wouldn't be worth it for me. If you don't know off the top of your head, I can look it up myself 😅 I'd just have to search first.
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@DividendenWaschbaer would be new to me and if so, I'll have to submit a few (I'm still missing Japan, for example). 😆 I'll just write to DKB, even with 30 euros it would be worth it for me. It makes the whole withholding tax process easier, as you don't have to reclaim anything from the source. It also increases your cash flow. 😊 The reductions/exemptions usually apply for 3 years or longer.
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@Kohlmeyse huhu, Is this reduction also possible for the USA?
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@PiHu which is reduced to 15% by default with most brokers.
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•@Kohlmeyse I've just had a look. I can't find anything about the increase. Maybe I was wrong. I'm curious to see what dkb answers you. Regarding withholding tax Japan: the form is probably less worthwhile (unless you really expect massively high dividends). The withholding tax is 15.33% (15% + service fee or something like that) and 15% is deducted from this due to the double taxation agreement. So we are talking about a 0.3% refund here. Therefore irrelevant for me. But France/Scandinavia in particular remains interesting 👍🏻
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