ISLA updates on Germany’s MoF draft guidance for Tax Act

The German Federal Ministry of Finance released a draft yesterday of the eagerly expected guidance on the application of the new provision of the of the German Investment Tax Act 2018 introduced on 1 January 2018, which addresses taxation of income from securities lending and repos.

The partners at EY, Petar Groseta and Marcus Helios, have provided ISLA with a memorandum summarizing the key points and adding some additional comments on issues to do with transactions in scope, tax base, collection of tax, double tax treaty, and CCP transactions.

Germany’s MoF indicated that it would welcome any comments regarding the draft by 15 February 2018. The industry bodies and other interested parties are therefore encouraged to provide comment letters to the Ministry if they see a need for further clarifications. ISLA will be reviewing the guidance in detail and will no doubt be responding.

Read the full release

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