Importing non taxable income to Germany

6 posts in this topic

Hi All,

 

I have an apartment in Italy that I rented in the past years. 

According to my tax berater and thanks to the agreement between Germany and Italy against double taxation, the taxes over rental income are paid only in Italy (and they duly are). 

 

Now, in the past years I have accrued a (relatively) small amount of money on my Italian account as in fact the incoming rent piled up there (my salary here was enough and I have not invested what I was doing).

 

Now I will sell the apartment and I intend to close the italian bank account.

If I transfer an amount of approximately 20000 Eur from my italian bank account to my german bank account, do I need to inform the Bundesbank? Where? How? 

Regarding taxes, is there a way I can flag/explain the transaction so that the Finanzamt will know that this is non-taxable rental income?

 

Thank you for your help!

 

 

 

 

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1 hour ago, Tim34 said:

 

 

Regarding taxes, is there a way I can flag/explain the transaction so that the Finanzamt will know that this is non-taxable rental income?

 

The income is not taxable here, but must be declared in the income tax return, it's subject to Progressionsvorbehalt and increases your tax rate. See https://www.toytowngermany.com/forum/topic/189414-what-is-progressionsvorbehalt/ and many more threads.

 

Quote

do I need to inform the Bundesbank? Where? How? 

 

"Privatpersonen können ihre außenwirtschaftlichen Zahlungsmeldungen telefonisch anzeigen.

Servicezeiten montags bis freitags von 9 Uhr bis 15 Uhr. 

0800 1234 111 (entgeltfrei)

Nur aus dem deutschen Festnetz erreichbar."

 

https://www.bundesbank.de/de/service/meldewesen/aussenwirtschaft/elektronische-einreichung/ams/allgemeines-meldeportal-statistik-611452

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I had thought that transfers from your own account abroad to your own account here were exempt from Bundesbank reporting. 

 

Am I mistaken?

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@Tim34

 

Please do not cross post (open duplicate topic threads) on Toytown!!

 

It is unneccessary and very frustrating to those TTers who may care to help.

 

When people who seek help cross post it puts those who are willing to help off responding to them in future.

 

TTers who may have posted in one or the other thread will soon notice that their efforts were wasted by the cross poster.

 

Importing capitals to Germany - Finance - Toytown Germany

 

Thank you for your consideration.

 

2B

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2 hours ago, 2B_orNot2B said:

@Tim34

 

Please do not cross post (open duplicate topic threads) on Toytown!!

 

It is unneccessary and very frustrating to those TTers who may care to help.

 

When people who seek help cross post it puts those who are willing to help off responding to them in future.

 

TTers who may have posted in one or the other thread will soon notice that their efforts were wasted by the cross poster.

 

Importing capitals to Germany - Finance - Toytown Germany

 

Thank you for your consideration.

 

2B

 

2B_orNot2B, thank you and thank you to the other members for your answers.

 

I did it purposely and in good faith.

 

Albeit similar, the two posts are related to two different cases and my intention was to avoid confusion, considering the proximity and partial overlapping of the posts. The previous is related to importing capital, this post is related to importing non-taxable income.

 

However, if you deem it wrong, I can collect all answers, delete them both and put everything in one post.

(I hope I can still remove a post, if not, perhaps I’ll ask a moderator)

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