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Calculator · Taxes & allowances
Calculate the advance lump sum tax on your ETFs and funds, for the 2024 to 2026 tax years, each due in January of the following year.
The calculator models the German advance lump sum for investment funds and ETFs. It makes visible the logic German brokers typically apply automatically. It shows a computed tax burden and does not replace tax advice.
Investboard calculates the Vorabpauschale for all your funds and shows how much saver's allowance you should reserve.
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The Vorabpauschale for a calendar year is due at the beginning of January of the following year. For the 2025 tax year, the tax is debited from your settlement account in January 2026, provided there is sufficient balance. The exact debit date is typically in the first week of January.
No. If you use a German broker or custodian bank, they calculate and remit the Vorabpauschale automatically. You do not need to do anything. If you hold a foreign brokerage account, however, you must calculate the Vorabpauschale yourself and report it in Anlage KAP of your tax return.
If your settlement account does not have enough funds at the time of the debit, the broker may sell fund shares to cover the tax liability. The exact approach varies between brokers: some temporarily overdraw the account, others automatically sell shares. It is advisable to always keep sufficient liquidity in your account in January.
Yes. Previously paid Vorabpauschale amounts are taken into account as a tax reduction when you later sell the fund shares, so there is no double taxation. The broker performs an internal cost-basis adjustment. The paid Vorabpauschale amounts increase the tax cost basis of the shares, which correspondingly reduces the taxable capital gain on sale.
The exact amount depends on the Basiszins (base rate) for the relevant year. With a Basiszins of 2.53 % (2025), the base return is EUR 1.75 per EUR 100 of fund value (= 2.53 % × 70 %). For an ETF value of EUR 10,000, this yields a base return of roughly EUR 175. After the Teilfreistellung (30 % for equity funds), EUR 122.50 is taxable. The actual tax is then approximately EUR 32 (at 26.375 %). Only when the actual value increase is less than the base return is the lower amount used as the Vorabpauschale.
No. The Vorabpauschale applies exclusively to investment funds and ETFs (§ 18 InvStG). There is no Vorabpauschale for individual stocks. Capital gains from stocks are only taxed upon sale. Dividends from stocks, however, are immediately taxable.
Pro rata: for every full month before the month of purchase, the Vorabpauschale is reduced by one twelfth (§ 18 Abs. 2 InvStG). The factor is (13 − month of purchase) / 12, so a purchase in July leaves 6/12. The reduction comes last: first the cap on the Basisertrag, then the deduction of distributions, then the Zwölftelung. Shares held before 1 January carry the full amount. The calculator assumes a full holding year.
Usually not. Distributions are deducted from the capped Basisertrag; if they reach or exceed it, nothing remains to be taxed. If the fund distributes less, only the difference is used. The reason: those distributions were already taxed during the year, so an additional Vorabpauschale would capture the same income twice. The charge therefore stays mainly a matter for accumulating funds and ETFs.
Basiszins, calculation and practical tips on the Vorabpauschale for accumulating ETFs.
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Calculate now →Tax Year
Aktuell für 2026Base rate 2025: 2,53%, due January 2026
Your Tax Profile
of EUR 1.000
Fund Data
Partial Exemption: 30%
Your Vorabpauschale (Advance Pre-Tax Charge)
Tax Due in January 2026
EUR 0,00The Vorabpauschale (§ 18 InvStG) is a prepaid annual tax for accumulating (thesaurierend) investment funds and ETFs. It was introduced with the 2018 Investment Tax Reform (Investmentsteuerreform) and applies to all funds that reinvest their income rather than distributing it.
Before 2018, investors in accumulating funds could let capital gains compound for years or decades without paying annual taxes. Tax was only due upon sale — a significant tax deferral effect (Steuerstundungseffekt) that gave accumulating funds an interest-rate advantage over distributing funds.
The Vorabpauschale limits this advantage: each year, a notional minimum gain is calculated and taxed, even if the investor has received no actual distribution. When the shares are eventually sold, previously taxed Vorabpauschale amounts are deducted from the capital gain, so there is no double taxation.
The calculation follows a fixed formula. Here is an example with an equity ETF:
Starting data:
Step 1: Calculate the Basisertrag (base return)
Basisertrag = Value_start_of_year × Basiszins × 0.70
= 50,000 × 3.20% × 0.70
= 50,000 × 0.0320 × 0.70
= 1,120 EUR
The factor 0.70 represents the statutory portion used as the base return.
Step 2: Actual value increase
Value increase = Value_end − Value_start
= 54,000 − 50,000
= 4,000 EUR
Step 3: Vorabpauschale (before partial exemption)
Vorabpauschale = min(Basisertrag, Value increase + Distributions) − Distributions
= min(1,120, 4,000 + 0) − 0
= 1,120 EUR
If the actual value increase is less than the Basisertrag, only the actual increase is used. The Vorabpauschale can never be negative (floor: 0 EUR).
Step 4: Apply Teilfreistellung (partial exemption)
Taxable = 1,120 × (1 − 30%)
= 1,120 × 70%
= 784 EUR
Step 5: Deduct Sparerpauschbetrag (saver's lump sum)
Assumption: the lump sum has not been used elsewhere (EUR 1,000 available).
Remaining = 784 − 784 = 0 EUR (fully covered by the lump sum)
In this example, no tax is due because the taxable Vorabpauschale is below the available Sparerpauschbetrag.
Step 6: Abgeltungsteuer on the remaining amount
If the Sparerpauschbetrag had already been used up (e.g., with a larger portfolio):
Abgeltungsteuer = 784 × 26.375% ≈ 206.78 EUR
The Basiszins is set annually by the Bundesfinanzministerium (Federal Ministry of Finance) based on interest rate structure data from the Deutsche Bundesbank and published in the Bundessteuerblatt (Federal Tax Gazette). It reflects the general interest rate environment.
| Year | Basiszins | |---|---| | 2019 | 0.52% | | 2020 | 0.07% | | 2021 | −0.45% | | 2022 | −0.05% | | 2023 | 2.55% | | 2024 | 2.29% | | 2025 | 2.53% | | 2026 | 3.20% |
In 2021 and 2022 the Basiszins was negative — the Vorabpauschale was therefore EUR 0, and no annual tax was due.
| Fund Type | Partial Exemption | Taxable Portion | |---|---|---| | Equity fund (min. 51% equities) | 30% | 70% | | Mixed fund (min. 25% equities) | 15% | 85% | | Real estate fund (domestic) | 60% | 40% | | Real estate fund (foreign) | 80% | 20% | | Bond fund / other | 0% | 100% |
The Vorabpauschale is EUR 0 if:
The Vorabpauschale becomes due at the start of the following year (i.e., in January). Your broker automatically debits the tax from your Verrechnungskonto (settlement account). If the account does not have sufficient funds, problems with the tax payment may arise depending on the broker.
Recommendation: Make sure your settlement account has enough liquidity at the start of the year to cover the expected Vorabpauschale. For large ETF positions, this amount can be several hundred euros.
If you acquire shares during the year, only a proportion of the Vorabpauschale applies. For every full month preceding the month of purchase, the amount is reduced by one twelfth. The month of purchase itself counts in full.
Factor = (13 − month of purchase) / 12 Bought in July (month 7): (13 − 7) / 12 = 6/12 Vorabpauschale = 1,120 × 6/12 = 560 EUR
The order matters here: the factor is applied last. The Basisertrag is capped first, distributions are then deducted, and only that result is reduced. A purchase in December leaves 1/12; shares already held before 1 January keep the full factor of 1.
The calculation above assumes shares held for the whole year. For a purchase made during the year, multiply the result by (13 − month of purchase) / 12. Where several tranches were bought at different times, the factor applies per tranche.
The Basisertrag is the ceiling of the calculation, not its result. § 18 Abs. 1 S. 3 InvStG caps it at the actual value increase for the year plus any distributions. Distributions are then deducted from that capped amount.
Vorabpauschale = max(0, min(Basisertrag, value increase + distributions) − distributions)
Two cases follow in which the amount comes out smaller than the Basisertrag suggests. First, the weak year: if the value increase stays below the Basisertrag, only the value increase counts. In a loss year the result is EUR 0, and no loss carry-forward arises from it.
Second, the distributing fund: distributions have already been taxed during the year and therefore reduce what remains, often to nothing. A fund that distributes more than its Basisertrag triggers no Vorabpauschale at all. The charge stays mainly a matter for accumulating funds.
A Vorabpauschale you have already been taxed on does not simply disappear. It raises the tax cost basis of the shares, and it does so in full, before the Teilfreistellung. In the example above that is the EUR 1,120, not the EUR 784 that was taxable after the partial exemption.
On a later sale, the taxable capital gain is correspondingly lower. What you pay in January is brought forward, not added on. A German custodian applies the credit automatically; with a foreign brokerage account you have to track the amounts yourself and report them in Anlage KAP.
The long form, with a worked example, is in the knowledge article Vorabpauschale 2026.
The calculator covers the 2024, 2025 and 2026 tax years. The Vorabpauschale falls due in January of the following year, tax year plus one: for 2025 in January 2026, for 2026 in January 2027. Choose the year whose debit you are planning or reconstructing, not the year you happen to be calculating in.
Each tax year carries its own Basiszins. The Bundesministerium der Finanzen (Federal Ministry of Finance) publishes it at the start of the year (§ 18 Abs. 4 InvStG). Multiplied by the Basisertragsfaktor of 70% (§ 18 Abs. 1 InvStG), it gives the share of the fund value counted as the Basisertrag.
| Tax year | Basiszins | Due |
|---|---|---|
| 2024 | 2.29% | January 2025 |
| 2025 | 2.53% | January 2026 |
| 2026 | 3.20% | January 2027 |
The step from 2025 to 2026 is the largest of the three: at the same fund value and fund type, the Vorabpauschale for 2026 comes out noticeably higher than for 2025.
The Basiszins for 2026 is 3.20%.
This rate was determined by the Bundesfinanzministerium (BMF) based on the interest rate structure data of the Deutsche Bundesbank and published in the Bundessteuerblatt. It forms the basis for calculating the Vorabpauschale for all fund investors subject to tax in Germany for the 2026 tax year.
Compared to the previous year, the Basiszins has increased: 2025 was 2.53%, 2026 is 3.20% — a rise of 0.67 percentage points, an increase of roughly 26%. For investors in accumulating funds, this means the Vorabpauschale for 2026 will be noticeably higher than in 2025.
Calculation example for comparison (fund value EUR 50,000, equity fund, no distributions):
| Year | Basiszins | Basisertrag | Vorabpauschale (before partial exemption) | |---|---|---|---| | 2025 | 2.53% | 886 EUR | 886 EUR | | 2026 | 3.20% | 1,120 EUR | 1,120 EUR |
The Basisertrag increases by EUR 234 — and with it the potential tax liability (after partial exemption and lump sum) for the same ETF.
The Basiszins can fluctuate considerably from year to year, as the years 2021 (−0.45%) and 2023 (2.55%) illustrate. Investors should keep an eye on the annual BMF announcement to adjust their tax planning accordingly.