Hello everyone,
I am a private investor based in Germany. I invested in some stocks in the beginning of the COVID epidemic. One of those was a US REIT company called STORE Capital Corporation. I used my bank depot for that, my bank is ING.
The REIT company was bought by GIC (Singaporean sovereign wealth fund) and the deal was finalized last month. So the REIT went private and all shares were taken out of the public stock market. According to the deal stockholders will receive $32.25 per share. So far so good, I had 200 shares and my positions were closed on 07.02.2023, I got $ 6.450,00. After currency conversion it was € 5.963,96 and a total profit (before tax) of € 1.241,51. However, on 24.02.2023 the bank took € 1.274,30 from my account without any explanation. I asked them what is this and they told me it is a withholding tax charge of 21% from USA. However, it is not taxing my profits, but the entire amount. Which for me makes no sense. Their reply was:
” Die Barabfindung von Store Capital mit der ISIN US8621211007 ist in den USA steuerlich wirksam. Daher wurde noch nachträglich 21 % Quellensteuer veranschlagt, welche nicht auf die deutsche Kapitalertragsteuer anrechenbar ist. “
I have to mention I am an expat living in Germany and my German is not very good. Still waiting for the bank to provide some additional clarification on that matter.
If there is someone who faced the same problem or is more knowledgeable on that matter please help, I am a bit desperate at the moment.
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