Germany MOF Updates Guidance on Taxation of Investment Funds

The German Ministry of Finance Sept. 6 issued online Letter No. 2022/0750199, updating guidance on the Investment Tax Act. Topics covered include: 1) how to determine deduction amounts for distributed income from the rental of real estate; 2) rules on loss offsetting for special investment funds; 3) interest expense limitations; 4) foreign tax credits and deductions for tax amounts withheld or paid under a DTA; 5) tax exemptions for investors in an umbrella special investment fund; and 6) refund procedures during the transitional period for the reduced capital gains tax rate up to Dec. 31, 2022. [Germany, Ministry of Finance, ...