Taxbox: Introduction of the field „Anschaffungskosten vor 2018“ (acquisition costs before 2018)
Clearstream Banking AG, Frankfurt1 informs customers about the introduction of the new field W46 “Anschaffungskosten vor 2018” (acquisition costs before 2018) in the Taxbox Service. The implementation will be effective
Friday, 1 January 2021
Background
On the request of the Taxbox committee, CBF will introduce a new field for the acquisition costs before 2018 in order to cover a funds liquidation scenario.
The objective is to enable the ultimate financial institution, after carrying out various transfers of securities within the German market, to use the correct tax base in case of a funds liquidation.
The initial acquisition costs before 2018 need to be disclosed separately because the Investment Tax Act (Investmentsteuergesetz; InvStG) requires a deemed disposal of all funds on 31 December 2017 and a subsequent re-acquisition on 1 January 2018.
Description of the functional change
In the new Taxbox field W46 "Anschaffungskosten vor 2018", the amortised acquisition costs are reported which were the basis for the exchange on 31 December 2017 and which are necessary for the determination of the taxable proceeds of the sale.
Incidental acquisition costs are taken into consideration and the tax-free dividends with a payment date of 1 January 2020 are deducted.
The Taxbox definition allows the deliverer to provide in the new field the acquisition costs before 2018. The entry or transmission of the field is not mandatory.
Customers using the Taxbox Service are asked to consider the new field in their operational procedures. Both the delivering and receiving party must adapt their systems to be able to process the field content
Extract from the Taxbox “Datenfelddokument” 2
The field description of the new data field reads as follows:
Nr. | Feldbeschreibung | Format | Ausprägung | Pflichtfeld AD |
W46 | Anschaffungskosten vor 2018 | 13,5-stellig numerisch (13 Vorkomma-stellen; | Gesamtbetrag in EUR | Nein |
Kommentar: Das Feld ist nur für unentgeltliche Depotüberträge relevant. Die Angabe erfolgt als Gesamtbetrag, nicht als Wert pro Anteil. Es sind positive, negative Werte und der Wert 0,00 zulässig. Keine Befüllung, wenn das Anschaffungsdatum (W1) vor 2009 oder ab 2018 liegt oder das Anschaffungsdatum (W1) zwischen 1. Januar 2009 und 31. Dezember 2017 liegt und das Feld W21 (Anschaffungstag aus fiktiver Veräußerung) ungleich 1. Januar 2018 ist. In diesem Falle sind die fiktiven Anschaffungskosten (W4) für die Ermittlung einer steuerfreien Substanzausschüttung relevant. Befüllung (für alle Fonds), wenn das Anschaffungsdatum (W1) zwischen 1. Januar 2009 und 31. Dezember 2017 liegt und das Feld W21 (Anschaffungstag aus fiktiver Veräußerung) gleich 1. Januar 2018 ist. Erfolgt keine Befüllung, hat dies zur Folge, dass keine steuerfreie Substanzausschüttung ermittelt werden kann. Das Feld enthält die fortgeführten Anschaffungskosten inklusive der Anschaffungsnebenkosten, reduziert um die steuerfreien Substanzausschüttungen mit Zahlbarkeitstag ab 1. Januar 2020, die dem Umtausch am 31. Dezember 2017 und somit bei der Ermittlung des steuerlichen Veräußerungsergebnisses zugrunde lagen. Bei unbekannten „Anschaffungskosten vor 2018“ darf das Feld nicht geliefert werden. Das Feld wird erst ab Übertragungsdatum 1. Januar 2021 akzeptiert. | ||||
Implementation approach
CBF will implement the field W46 “Anschaffungskosten vor 2018“ (acquisition costs before 2018) with the Release on 23 November 2020. Starting from this point in time, CBF will accept the transmission of the field W46 related to Taxbox Services but will not process it. For the Taxbox users this means that the provided data is not stored and therefore not delivered to the receiving party.
From 1 January 2021, the field W46 will become active and can be used in the Taxbox for further processing. There will be a transition phase between the Release in November 2020 and the go live in January 2021:
Phase 1 Current procedure, valid until | Phase 2 Transition phase between the release and the go-live on | Phase 3 Activation of the new filed W46 on |
Field W46 is unknown. Messages containing this field will be rejected. | Field W46 will be accepted by Taxbox, but not stored nor delivered to the receiving party. | Field W46 is accepted by Taxbox and will be delivered to the receiving party. |
Customer simulation
Users of the Taxbox Service will have the possibility to test the transition phase as well as the new scenario during the customer simulation of the Release November 2020.
The transition phase, when the field W46 is accepted, but will not be delivered to the receiving party, can possibly be tested in the first week of the “Guided Customer Simulation” from 26 October until 1 November 2020.
The scenario, when the field W46 will be delivered to the receiving party, is intended to be ready for testing in the following weeks of the customer simulation.
End of September 2020, more details will be available in the CBF Customer Simulation Guideline for the Release in November 2020.
Contact
For questions regarding the functionality, please contact Client Services. Questions related to the technical connection can be addressed to the Taxbox team (taxbox@clearstream.com).
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. This document is available only in German.