Equities - Double Taxation Treaties concluded by Germany and currently in force

04.05.2022

Note: Clearstream Banking provides these rates for information purposes only and does not guarantee that this information is correct, complete and accurate. Clearstream Banking does not assume liability for any damages, direct or indirect, that may arise from the reliance on or the use of this information. The rate as prescribed in the DTT assumes that the beneficial owner does not hold a substantial percentage of the share capital of the company paying the dividend. Different rates may apply for substantial holdings. Please refer to the actual DTT or your tax advisor for further information.

For most markets, the "Application for a refund of German capital tax" (010005 - Antrag auf Erstattung der deutschen Steuer auf Kapitalerträge - Stand 07/2019), which available on the website of the Federal Central Tax Office (Bundeszentralamt für Steuern; BZSt) must be used. For further information on the application form, please refer to Tax Forms to use - Germany. For certain markets, specific forms from the BZSt are required as indicated below.

The standard rate of withholding tax on German equities is 25% plus a 5.5% surcharge, resulting in a total withholding tax rate of 26.375%.

CountryRate prescribed
by the DTT -
Dividends (%)
Tax refund
available (%)
Argentina1511.375
Armenia1511.375
Australia1511.375
Austria1511.375
Azerbaijan1511.375
Bangladesh1511.375
Belarus1511.375
Belgium1511.375
Bolivia1016.375
Bosnia-Herzegovina1511.375
Bulgaria1511.375
Canada1511.375
China a1016.375
Croatia1511.375
Cyprus1511.375
Czech Republic1511.375
Denmark1511.375
Ecuador1511.375
Egypt1511.375
Estonia1511.375
Farao Islands1511.375
Finland1511.375
France1511.375
Georgia1511.375
Greece251.375
Hungary1511.375
Iceland1511.375
India1016.375
Indonesia1511.375
Iran206.375
Ireland1511.375
Israel251.375
Italy1511.375
Ivory Coast1511.375
Jamaica1511.375
Japan1511.375
Kazakhstan1511.375
Kenya1511.375
Kuwait1511.375
Kyrgyzstan1511.375
Latvia1511.375
Liberia1511.375
Liechtenstein1511.375
Lithuania1511.375
Luxembourg1511.375
Malaysia1511.375
Malta1511.375
Mauritius1511.375
Mexico1511.375
Moldova1511.375
Mongolia1016.375
Morocco1511.375
Namibia1511.375
Netherlands1511.375
New Zealand1511.375
North Macedonia1511.375
Norway1511.375
Pakistan1511.375
Papua New Guinea1511.375
Philippines1511.375
Poland1511.375
Portugal1511.375
Romania1511.375
Russia1511.375
Serbia and Montenegro1511.375
Singapore1511.375
Slovakia1511.375
Slovenia1511.375
South Africa1511.375
South Korea1511.375
Spain1511.375
Sri Lanka1511.375
Sweden1511.375
Switzerland b1511.375
Taiwan1016.375
Tajikistan1511.375
Thailand206.375
Trinidad and Tobago206.375
Tunisia1511.375
Turkey206.375
Turkmenistan1511.375
Ukraine1016.375
United Arab Emirates1016.375
United Kingdom1511.375
United Kingdom c1015.375
United Kingdom d520.375
U.S.A. e1511.375
Uruguay1511.375
Uzbekistan1511.375
Venezuela1511.375
Vietnam1511.375
Zambia1511.375
Zimbabwe1511.375

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a. The China DTT does not apply to Hong Kong.
b. Specific Form R-D1 (individuals) or Form R-D2 (legal entities) is required.
c. If the beneficial owner is a pension scheme.
d. If the beneficial owner is a company (other than a partnership) that holds directly at least 10% of the capital of the company paying the dividends.
e. Specific Form E-USA is required. For U.S. pension funds, Form Pensionfonds is also required.