Incorrect capital gains tax at Scalable Capital if withholding tax is offset

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 (+0,45%) 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

BockaufDividenden@BockaufDividenden

Would be very interested to hear if Scalable has contacted you!!! I'm still with Baader depot and waiting for the automatic move.

But of course I want to know whether they are doing everything correctly, as I am also saving the ETF.

Would you like to link me if you have any new information? That would be really nice!

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Fortunus@Quiny

@BockaufDividenden I'm happy to do it.
I'm a bit shocked by this amateurish implementation of billing. 😳

@Quiny Thank you, I'm looking forward to it!

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Bino@WarrenWobuffet

Hi, if the withholding tax was calculated correctly, what happens to the difference? Do you have it in the withholding tax pot? I think a statement would help.

@WarrenWobuffet The withholding tax is calculated correctly and is also deducted directly. However, the calculation of the German capital gains tax is incorrect and therefore also the solidarity surcharge.

@WarrenWobuffet I have added a concrete example in the post.

@Quiny Is the word creditable used anywhere in withholding tax?

@WarrenWobuffet The "offsetting of creditable withholding tax" is done directly. The problem is obviously that they charge a flat rate of 10% capital gains tax (25% - 15% withholding tax). Which is of course nonsense.