{"format":"alysly-page/1","url":"https://alysly.com/learn/etf-taxes-germany/","json":"https://alysly.com/json/learn/etf-taxes-germany/index.json","lang":"en-US","title":"ETFs & Tax in Germany: The Essentials – Alysly","description":"Teilfreistellung, Vorabpauschale and the saver's allowance: how ETFs are taxed in Germany, explained clearly.","published":"2026-07-11T10:41:44+02:00","modified":"2026-11-01T18:26:04+01:00","alternates":[{"lang":"de-DE","url":"https://alysly.com/de/lernen/etf-steuern/","json":"https://alysly.com/json/de/lernen/etf-steuern/index.json"}],"about":"Machine-readable version of the page at url. It contains the text, tables and key figures published there, but not the interactive charts and tools.","breadcrumb":[{"name":"Investing & Trading Basics","url":"https://alysly.com/learn/"},{"name":"Level 0","url":"https://alysly.com/learn/#level-0"},{"name":"ETFs & Tax in Germany: The Essentials","url":"https://alysly.com/learn/etf-taxes-germany/"}],"content":[{"type":"paragraph","text":"Level 0 Investing & ETF Basics · Part 9/16"},{"type":"heading","level":1,"text":"ETFs & Tax in Germany: The Essentials"},{"type":"paragraph","text":"By Alexander Bock, founder and data analyst","links":[{"text":"Alexander Bock","href":"https://alysly.com/about/"}]},{"type":"paragraph","text":"In Germany, ETF gains are subject to the flat capital gains tax (25% plus solidarity surcharge and possibly church tax). Three terms determine how much of it is actually due."},{"type":"image","src":"https://alysly.com/img/ta/vorabpauschale-steps.fa40befec170527652cdd970357aa6e057802069461bb5a6f8a23344e3531978.webp","alt":"Staircase of five bars: gain, base yield, advance lump sum, taxable part and tax for a fund worth 10,000 euros"},{"type":"paragraph","text":"Germany's advance lump-sum tax (Vorabpauschale) for 2026 in an example without allowance: €10,000 fund value at the start of the year, €800 gain. (1) Gain €800, (2) base yield = €10,000 × 3.20% base rate × 70% = €224, (3) advance lump sum = the smaller value, €224, (4) after the 30% partial exemption €156.80, (5) 26.375% flat tax including solidarity surcharge = €41.36. The tax is credited on a later sale."},{"type":"heading","level":2,"id":"1-savers-allowance-sparerpauschbetrag","text":"1. Saver’s Allowance (Sparerpauschbetrag)"},{"type":"paragraph","text":"Each year €1,000 of capital income is tax-free (jointly assessed couples: €2,000). It is applied automatically when an exemption order (Freistellungsauftrag) is on file with the broker.","links":[{"text":"broker","href":"https://alysly.com/brokers/"}]},{"type":"heading","level":2,"id":"2-partial-exemption-teilfreistellung","text":"2. Partial Exemption (Teilfreistellung)"},{"type":"paragraph","text":"For equity funds (at least 51% stocks), 30% of income is tax-free. This offsets taxes already paid at fund level and lowers the effective tax on equity-ETF gains."},{"type":"heading","level":2,"id":"3-advance-lump-sum-tax-vorabpauschale","text":"3. Advance Lump-Sum Tax (Vorabpauschale)"},{"type":"paragraph","text":"Because accumulating ETFs pay no dividends, the Vorabpauschale applies. This yearly advance tax on a notional minimum return makes sure that accumulating funds are taxed on an ongoing basis too.","links":[{"text":"accumulating ETFs","href":"https://alysly.com/learn/distributing-or-accumulating/"}]},{"type":"list","ordered":false,"items":["It only applies if the fund rose during the year.","It is usually small and credited against tax on a later sale (no double taxation).","German brokers collect it automatically from the cash account."]},{"type":"paragraph","text":"Interactive calculator"},{"type":"heading","level":2,"text":"Vorabpauschale Calculator"},{"type":"paragraph","text":"Equity ETF: 70% base-yield factor, 30% partial exemption, 26.375% flat tax (incl. Soli, excl. church tax). Capped at the actual gain. Base rate for 2026: 3.20% (German Federal Ministry of Finance, Jan 13, 2026). No guarantee, not tax advice."},{"type":"heading","level":2,"id":"holding-via-a-foreign-broker","text":"Holding via a Foreign Broker"},{"type":"paragraph","text":"Foreign brokers do not withhold German tax. The income must then be declared in the tax return; with a German broker the deduction happens automatically."},{"type":"paragraph","text":"This article is general information, not tax advice. Rules can change."},{"type":"list","ordered":false,"items":[{"text":"Previous The Rule of 72: Estimating Doubling Time","href":"https://alysly.com/learn/rule-of-72/"},{"text":"Next MSCI World Criticism: How Big Is the US Concentration?","href":"https://alysly.com/learn/msci-world-criticism/"}]},{"type":"heading","level":2,"text":"Indices"},{"type":"table","caption":"Indices, performance over the selected period","columns":["Index","1M"],"rows":[[{"text":"Dow Jones","href":"https://alysly.com/markets/indices/dow-jones/"},{"text":"+1.7%","data":{"m1":"+1.7%","m3":"-1.4%","m6":"+4.5%","ytd":"+7.6%","max":"+30.1%"}}],[{"text":"S&P 500","href":"https://alysly.com/markets/indices/sp500/"},{"text":"-0.9%","data":{"m1":"-0.9%","m3":"+1.2%","m6":"+4.9%","ytd":"+10.8%","max":"+35.8%"}}],[{"text":"MSCI World","href":"https://alysly.com/markets/indices/msci-world/"},{"text":"-0.8%","data":{"m1":"-0.8%","m3":"+0.6%","m6":"+4.0%","ytd":"+10.2%","max":"+35.3%"}}],[{"text":"MSCI ACWI","href":"https://alysly.com/markets/indices/msci-acwi/"},{"text":"-1.7%","data":{"m1":"-1.7%","m3":"-0.2%","m6":"+2.9%","ytd":"+10.3%","max":"+41.7%"}}]]},{"type":"heading","level":2,"text":"ETFs"},{"type":"table","caption":"ETFs, performance over the selected period","columns":["Fund","1M"],"rows":[[{"text":"SPDR S&P 500 ETF Trust SPY","links":[{"text":"SPDR S&P 500 ETF Trust","href":"https://alysly.com/markets/etfs/us/spy/"}]},{"text":"-0.9%","data":{"m1":"-0.9%","m3":"+1.2%","m6":"+4.9%","ytd":"+10.8%","max":"+35.8%"}}],[{"text":"Vanguard S&P 500 ETF VOO","links":[{"text":"Vanguard S&P 500 ETF","href":"https://alysly.com/markets/etfs/us/voo/"}]},{"text":"-0.9%","data":{"m1":"-0.9%","m3":"+1.2%","m6":"+4.9%","ytd":"+10.8%","max":"+34.3%"}}],[{"text":"iShares Core MSCI World UCITS ETF USD (Acc) EUNL","links":[{"text":"iShares Core MSCI World UCITS ETF USD (Acc)","href":"https://alysly.com/markets/etfs/ishares-core-msci-world-ucits-etf-usd-acc/"}]},{"text":"-0.8%","data":{"m1":"-0.8%","m3":"+0.6%","m6":"+4.6%","ytd":"+10.9%","max":"+489.0%"}}],[{"text":"Xtrackers MSCI Emerging Markets UCITS ETF 1c XMME","links":[{"text":"Xtrackers MSCI Emerging Markets UCITS ETF 1c","href":"https://alysly.com/markets/etfs/xtrackers-msci-emerging-markets-ucits-etf-1c/"}]},{"text":"-6.3%","data":{"m1":"-6.3%","m3":"+2.4%","m6":"+0.7%","ytd":"+15.2%","max":"+95.2%"}}]]},{"type":"heading","level":2,"text":"Stocks"},{"type":"table","caption":"Stocks, performance over the selected period","columns":["Stock","1M"],"rows":[[{"text":"NVIDIA Corporation NVDA","links":[{"text":"NVIDIA Corporation","href":"https://alysly.com/markets/stocks/nvidia-corporation/"},{"text":"United States","href":"https://alysly.com/markets/stocks/browse/?country=United%20States"}]},{"text":"-10.4%","data":{"m1":"-10.4%","m3":"+1.9%","m6":"+3.1%","ytd":"+9.7%","max":"+60.6%"}}],[{"text":"Apple Inc. AAPL","links":[{"text":"Apple Inc.","href":"https://alysly.com/markets/stocks/apple-inc/"},{"text":"United States","href":"https://alysly.com/markets/stocks/browse/?country=United%20States"}]},{"text":"+3.5%","data":{"m1":"+3.5%","m3":"+11.6%","m6":"+23.0%","ytd":"+26.8%","max":"+51.4%"}}],[{"text":"Tesla Inc. TSLA","links":[{"text":"Tesla Inc.","href":"https://alysly.com/markets/stocks/tesla-inc/"},{"text":"United States","href":"https://alysly.com/markets/stocks/browse/?country=United%20States"}]},{"text":"+12.7%","data":{"m1":"+12.7%","m3":"+28.5%","m6":"+2.3%","ytd":"-11.1%","max":"+65.9%"}}]]},{"type":"paragraph","text":"Data note 1","href":"#dn-1"},{"type":"heading","level":2,"text":"More Studies"},{"type":"list","ordered":false,"items":[{"text":"Jul 21, 2026 Collectibles ×5.4 for the same cards, matched-model index, Mar 2022 – Aug 2026 Is the Pokémon Card Market in a Bubble? 4,159 Sales Analyzed Prices for PSA-graded cards multiplied. Measured on the same cards they rose 438%, while the raw median shows 786% because pricier cards came up for sale later.","href":"https://alysly.com/analysis/pokemon-card-market-bubble/"},{"text":"May 19, 2026 Crypto 45.6% Bitcoin’s annualized volatility, Jul 2024 – Sep 2026 Bitcoin in Investment Portfolios: The Real Numbers Bitcoin is calmer than it was and still about three times as volatile as the stock market. It moves with stocks, not with gold.","href":"https://alysly.com/analysis/bitcoin-investment-portfolios/"},{"text":"Mar 17, 2026 Wealth €1.2m needed for €3,000 a month indefinitely at a 3% real return Living Off Your Returns: What It Really Takes The capital you need is arithmetic. The return you assume is a guess, and it can triple the answer.","href":"https://alysly.com/analysis/living-off-returns/"}]},{"type":"paragraph","text":"View all studies","href":"https://alysly.com/analysis/#studies"},{"type":"heading","level":2,"text":"Learn"},{"type":"list","ordered":false,"items":[{"text":"MSCI World Criticism: How Big Is the US Concentration? The MSCI World is criticized for its heavy US weighting. The current breakdown by country and sector, and which fund types change the weighting.","href":"https://alysly.com/learn/msci-world-criticism/"},{"text":"Sector ETFs: A Single Industry in One Fund Sector ETFs bundle one industry – like consumer staples. What that means for diversification and volatility, with a live example.","href":"https://alysly.com/learn/sector-etfs/"}]},{"type":"paragraph","text":"Course overview","href":"https://alysly.com/learn/"},{"type":"paragraph","text":"Updated Nov 1, 2026 · Content and figures checked Oct 19, 2026"},{"type":"heading","level":2,"id":"note-legend-h","text":"Data Notes"},{"type":"paragraph","text":"All calculations run automatically and are not investment advice."},{"type":"list","ordered":true,"items":[{"id":"dn-1","text":"Returns computed automatically from the price series, excluding dividends, taxes and costs."}]},{"type":"paragraph","text":"Data and methodology: Alysly · Responsible for content: Alexander Bock","links":[{"text":"Alysly","href":"https://alysly.com/methodology/"},{"text":"Alexander Bock","href":"https://alysly.com/about/"}]},{"type":"paragraph","text":"View all data notes","href":"https://alysly.com/notes/"}],"structured_data":[{"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://alysly.com/#org","name":"Alysly","url":"https://alysly.com/","logo":{"@type":"ImageObject","url":"https://alysly.com/img/icon-512.png","width":512,"height":512},"description":"Data-driven insights, transparent analysis and powerful tools for long-term investors.","email":"mail@alysly.com","contactPoint":{"@type":"ContactPoint","contactType":"customer support","email":"mail@alysly.com","availableLanguage":["de","en"]},"address":{"@type":"PostalAddress","addressLocality":"Haltern am See","postalCode":"45721","addressCountry":"DE"},"founder":{"@id":"https://alysly.com/#founder"},"sameAs":["https://www.linkedin.com/company/alyslycom/","https://www.youtube.com/@alyslycom","https://x.com/alyslycom"],"publishingPrinciples":"https://alysly.com/methodology/"},{"@type":"Person","@id":"https://alysly.com/#founder","name":"Alexander Bock","jobTitle":"Founder and data analyst","url":"https://alysly.com/about/","sameAs":["https://www.linkedin.com/in/abxk/"]},{"@type":"WebSite","@id":"https://alysly.com/#site","url":"https://alysly.com/","name":"Alysly","alternateName":"Alysly Investment Analysis","inLanguage":"en-US","publisher":{"@id":"https://alysly.com/#org"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://alysly.com/markets/stocks/browse/?q={search_term_string}"},"query-input":"required name=search_term_string"}},{"@type":"WebPage","@id":"https://alysly.com/learn/etf-taxes-germany/#webpage","url":"https://alysly.com/learn/etf-taxes-germany/","name":"ETFs & Tax in Germany: The Essentials – Alysly","description":"Teilfreistellung, Vorabpauschale and the saver's allowance: how ETFs are taxed in Germany, explained clearly.","inLanguage":"en-US","isPartOf":{"@id":"https://alysly.com/#site"},"dateModified":"2026-11-01T18:26:04+01:00","publisher":{"@id":"https://alysly.com/#org"},"mainEntity":{"@id":"https://alysly.com/learn/etf-taxes-germany/#entity"},"primaryImageOfPage":{"@type":"ImageObject","url":"https://alysly.com/img/ta/vorabpauschale-steps-og.af188850d24a5c0e9e2b229cce86177f682d3a3227acd6a2dd28683eb8a03e19.png","width":1200,"height":630}}]},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Investing & Trading Basics","item":"https://alysly.com/learn/"},{"@type":"ListItem","position":2,"name":"Level 0","item":"https://alysly.com/learn/#level-0"},{"@type":"ListItem","position":3,"name":"ETFs & Tax in Germany: The Essentials"}]},{"@context":"https://schema.org","@type":"Article","@id":"https://alysly.com/learn/etf-taxes-germany/#entity","headline":"ETFs & Tax in Germany: The Essentials","description":"Teilfreistellung, Vorabpauschale and the saver's allowance: how ETFs are taxed in Germany, explained clearly.","inLanguage":"en-US","mainEntityOfPage":"https://alysly.com/learn/etf-taxes-germany/","image":[{"@type":"ImageObject","height":630,"url":"https://alysly.com/img/ta/vorabpauschale-steps-og.af188850d24a5c0e9e2b229cce86177f682d3a3227acd6a2dd28683eb8a03e19.png","width":1200},{"@type":"ImageObject","height":520,"url":"https://alysly.com/img/ta/vorabpauschale-steps.fa40befec170527652cdd970357aa6e057802069461bb5a6f8a23344e3531978.webp","width":1280}],"isPartOf":{"@type":"CreativeWorkSeries","name":"Investing & Trading Basics","url":"https://alysly.com/learn/"},"educationalLevel":"Level 0","author":{"@id":"https://alysly.com/#founder"},"publisher":{"@id":"https://alysly.com/#org"},"datePublished":"2026-07-11T10:41:44+02:00","dateModified":"2026-11-01T18:26:04+01:00"}],"notice":"© 2026 Alysly.com. Not investment advice. All data without guarantee. Financial information is analyzed and presented partly with AI assistance."}