Assessment of tax bases

The tax bases for special investment funds and their investors must be assessed separately and uniformly. In case of a foreign special investment fund, the management company or the domestic investor must file a return for the separate and uniform assessment after the end of the financial year. This must be submitted to the tax authority responsible for the taxation of the special investment fund.

The Federal Central Tax Office (BZSt) is the competent authority for the assessment of tax bases if the management of the legal representative of the investment fund is based abroad, and if the investment fund only achieves domestic income which is subject to withholding tax (domestic income from participation and other domestic income with deduction of tax).

The return for the separate and uniform assessment must be filed within four months after the end of the financial year. For this, the official form must be used. In case a resolution on a distribution is passed within four months after the end of the financial year, then the return must be filed within four months after the day of the resolution. The return must be filed including in particular the following documents:

• Annual report or annual financial statement and management report,
• Distribution resolution (if applicable),
• Sales prospectus,
• Share register,
• Reconciliation statement indicating how the tax bases were determined from the accounts under commercial or investment law,
• Balance sheets which indicate the composition of revenues and advertising expenses, and
• Documents about the distribution of income to the individual investors.