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  1. Knowledge
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  3. ›Partial Exemption

Tax

Partial Exemption

The partial exemption (Teilfreistellung) frees a portion of fund earnings from tax, 30% for equity funds, to offset the pre-tax burden levied at the fund level.

The partial exemption exempts a certain percentage of investment-fund earnings from withholding tax. It is designed to offset the pre-tax burden at the fund level.

Exemption rates: 30% for equity funds (>51% equity share), 15% for mixed funds (>25% equity share), 0% for pure bond funds, 80% for domestic real estate funds.

In practice: for an equity-fund gain of 1,000 EUR, only 700 EUR is taxed. The effective tax rate drops from ~26.4% to ~18.5%.

Related terms

Flat-Rate Withholding TaxAdvance Lump Sum TaxETF (Exchange-Traded Fund)

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