1.Oct.2010 - 17:21 hrs
I recently opened an account with www.keytrade.com, a bank in Belgium which allows non-residents to open current, savings and trading accounts. If I earn less than 800€ with the interests of their savings or trading account (which, being for non-residents, returns gross interests, without taxes withheld), do I need to file a tax return (paying a tax accountant) and pay taxes on them?
Thank you very much
1.Oct.2010 - 17:30 hrs
You need to file a tax return. Exactly what will depend on our investments (bank interest is one thing, shares another, options something else). Anlage KAP is the main one for investments etc. You will also need Anlage AUS because the income is not from Germany. You will possibly need possibly a third, Anlage S0, if you go into trading (I've used it for options). (This is just the bits I know, I've not been in shares here so no idea of detail of that).
Finanzamt will decide if it is taxable or not.
I seem to recall that it may be the case that the main declaration form allows you just to tick a box and say "under 801 Eur bank interest" (just interest - nothing to do with trading and the other stuff). But, even if that is still there in 2011, your obligation to disclose foreign income is still there anyway and so would any relating to trading too.
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