I noticed by chance today that Scalable Capital calculates the capital gains tax incorrectly (significantly too high) if the fund domicile requires withholding tax to be offset. This is at least the case with the popular $TDIV (-1,58 %) and other ETFs domiciled in the Netherlands.
I currently have this ETF in both my Baader-based custody account and my new Scalable custody account. While the net dividend in the old Baader-based custody account correctly amounts to approx. 82.36%, Scalable currently only pays out approx. 77.6% net dividend.
The conditions are the same in both custody accounts: e.g. FSA exhausted in each case.
The withholding tax is applied correctly in both cases, but Scalable, unlike Baader Bank, calculates the capital gains tax and the solidarity surcharge significantly too high. Approximately 4.5% net dividends are overpaid in total.
Has anyone already noticed this problem?
Is anyone already in contact with Scalable regarding this problem?
I have written to Scalable Support today and requested the correction of all statements with Dutch withholding tax settled since the beginning of the year/opening of the securities account.
An incorrect example from a specific statement:
Gross dividend: € 66.10
After partial exemption (30%): € 46.27
Withholding tax (15% of the gross dividend): € 9.91
Capital gains tax (10% of the amount after partial exemption): 4,63 €
Solidarity surcharge (5.5% of the withholding tax): € 0.25
Net dividend: € 51.31
The following calculation would be correct:
Gross dividend: € 66.10
After partial exemption (30%): € 46.27
Withholding tax (15% of the gross dividend): € 9.91
Capital gains tax:
11.57 € (25% of the amount after partial exemption)
less € 9.91 (withholding tax)
= 1,66 €
Solidarity surcharge:
0.09 € (5.5% of the withholding tax)
Net dividend: € 54.44
