I know I still owe the second part and am already working on the third part.... and ask for your indulgence. The more queries I get, the more information I collect and the more I want to share. As a placeholder $HAUTO (-0,1%) , $VAR (+0,48%) , $EQNR (+0,29%) .....
Since the topic of advance exemption from Norwegian withholding tax has come up again and again recently in order to avoid the - in the eyes of some - laborious process of applying for it in Norway and at the German tax office, I have taken a closer look at DKB, which was mentioned by @SAUgut777 DKB, which was mentioned in this context.
The upstream AI is really stubborn, resistant to questions and in the end just as unfriendly as my questions 😂😂👍, but at least I was then allowed to send the conversation to DKB in a contact form filled out by the AI that contained all the relevant points 👌👌. And from then on, I had to deal with real people who were very friendly and cooperative. At this point, a big compliment to DKB's customer service and the quick reactions, I was more than positively surprised!!!
The end result is that DKB is the only bank so far to offer this service for my inquiries, but the core sentence :
"Dear Mr. Wxxxxx,
an advance waiver is not offered. This is an advance reduction. In accordance with the DTA between Norway and Germany, the Norwegian withholding tax rate is reduced from 25% to 15%.
I wish you a pleasant day."
For DKB account holders, this means that they will get back the 10% that the Norwegian tax authorities refund for you in the way I have described. According to DKB's fee overview, there is a fee of € 30 for this. The remaining 15% must therefore still be claimed via the KAP annex.
Now everyone can decide for themselves whether they want to invest the fee or make the effort themselves. It won't be quicker via DKB either, the Norwegian tax authorities are quite overloaded with applications. I received a short message that it can take up to 15 months at the moment....
So be aware, despite the sometimes very attractive dividends in Norway, that you will first have less than 50% net in your account and then have to do some work to get at least half of the withholdings back.
With this in mind, I will soon publish a shortened second part and follow up with a third part that takes into account the tax aspects and broker-specific features.
