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DE - Reform of the German Investment Tax Act

On 26 July 2016, the finalised Investment Tax Reform Act has been released in the Federal Law Gazette.

On 26 July 2016, the finalised Investment Tax Reform Act has been released in the Federal Law Gazette. The bill provides for a change of the tax regime for public investment funds. Accordingly, public investment funds will be treated as non-transparent for tax purposes, i.e., the investment fund itself will be subject to corporate income tax and trade tax on certain domestic-sourced income (e.g., dividends received from resident corporations and rental income including capital gains from real estate). The investors will be taxed on distributions (a lump-sum amount is due if the investment fund retains its income) and gains from the redemption or sale of the fund units. In order to reduce the effect of double taxation, the income will be partially tax exempt in the hands of the investors depending on the income sources (e.g., in the case of an equity fund, a private individual holding the fund units as private assets will be granted a tax exemption of 30% on income).

The German special funds will continue to be treated as transparent for tax purposes if the investment fund fulfils certain investment criteria. The amendments will take effect from 1 January 2018.

May
2017
QNB Suisse SA appoints SGSS in Ireland for its pioneer UCITS-compliant umbrella fund
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Fund Distribution Services
QNB Suisse SA, a subsidiary of Qatar National Bank, has selected SGSS in Ireland to help establish and support QNB Global Funds ICAV, its European UCITS-compliant umbrella fund.
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May
2017
French national pension fund for the self-employed appoints Societe Generale Securities Services for custody services
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Apr
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SGSS innovates with Euronext to provide a new fund investment solution
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Fund Administration and Asset Servicing
SGSS is contributing to an innovative model, Euronext Fund Service, to facilitate investments in funds for domestic and international investors.
en/newsroom/news/news/news/sgss-innovates-with-euronext-provide-new-fund-investment-solution/
Apr
2017
Fighting poverty and striving for women empowerment
Mar
2017
SGSS strengthens its coverage team across Southern Europe
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Appointments
SGSS has appointed Lucrezia Brucoli as Head of Coverage to support business development across Southern Europe.
en/newsroom/news/news/news/sgss-strengthens-its-coverage-team-across-southern-europe/
Feb
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Quarterly Financial Information
2016: HEALTHY GROWTH IN GROUP NET INCOME
Results
2016: HEALTHY GROWTH IN GROUP NET INCOME
en/newsroom/news/news/news/quarterly-financial-information-2/
Jan
2017
SGSS in Italy launches Synapse, a new service to support fund distribution
Societe Generale Securities Services in Italy (SGSS S.p.A.) launches SYNAPSE, a new service to support fund distribution...
Jan
2017
SGSS strengthens its Coverage, Marketing and Solutions team
SGSS has appointed Matthew Davey as Managing Director and Head of Business Solutions to reinforce its service offering...
Appointments
SGSS has appointed Matthew Davey as Managing Director and Head of Business Solutions to reinforce its service offering for institutional investors, asset managers, financial intermediaries and corporates.
en/newsroom/news/news/news/sgss-strengthens-its-coverage-marketing-and-solutions-team/
Dec
2016
Altana Wealth Limited selects SGSS in Ireland for its UCITS fund structure
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