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Haier Smart Home Co.,Ltd., CNE1000031C1

Haier Smart Home Co.,Ltd., CNE1000031C1

17.08.2021 - 16:07:43

Haier Smart Home Co.,Ltd.: Announcement on D-share Dividend

If the Chinese withholding tax is credited against the investment income tax by the disbursing agent, the investment income tax is only levied as a result at a rate reflecting the difference to a tax deduction of 25%. If the crediting of the withholding tax is not possible for the disbursing agent, a crediting of the foreign withholding tax cannot take place in the deduction procedure at the level of the disbursing agent. The Shareholder may then achieve relief from taxation in the assessment procedure.

The taxation of dividends for persons subject to unlimited tax liability in Germany can be summarised as follows:

1. Individuals holding the shares as non-business assets for tax purposes:

- As a general rule, the gross dividend is subject to the special final withholding tax rate (25% plus solidarity surcharge at a rate of 5.5% and church tax, if applicable). The tax liability is deemed to have been settled by the proper deduction of investment income tax.

- In the context of the tax assessment, the taxable person may opt to pay tax on the gross dividend at the statutory (tariflich) tax rate as part of a favourable tax treatment (G?nstigerpr?fung). In this case, the German investment income tax reduced in accordance with section 43 para. 3 sentence 1 of the German Income Tax Act is to be credited without limitation against income tax within the scope of section 36 of the German Income Tax Act. The Chinese withholding tax taken into account in the deduction of investment income tax according to section 43 para. 3 sentence 1 of the German Income Tax Act is to be credited against the additional statutory income tax applicable to the additional capital income (section 32d para. 6 sentence 2 of the German Income Tax Act).

- Actual income-related expenses are not deductible. Instead, the shareholder is granted a saver's lump sum of EUR 801 or, in the case of spouses/life partners assessed jointly, EUR 1,602.

2. Individuals holding the shares as business assets for tax purposes or through a commercial partnership:

- Under the partial income taxation method (Teileink?nfteverfahren), 60% of the gross dividends are subject to tax. 60% of any related operating expenses may be claimed as a tax reduction.

- The German investment income tax levied is creditable against income tax without limitation; even a refund is possible, unless income tax applies (section 36 para. 4 of the German Income Tax Act).

- Within the limits of section 34c of the German Income Tax Act, the Chinese withholding tax, to which no further claim for reduction exists, is to be credited against the income tax payable on foreign income from China (per-country-limitation, section 68a of the German Income Tax Implementation Regulation (Einkommensteuer-Durchf?hrungsverordnung - EStDV)). As a result, operating expenses incurred in an economic connection with the dividend reduce the amount to be credited. If no income tax applies (e.g. due to losses incurred in Germany), the Chinese withholding tax is not creditable; a refund is not possible. Upon application, a tax deduction may be taken into account in the tax return instead of a credit when determining the income.

- For trade tax purposes, dividends are generally to be recorded at 100% if the shareholding (in nominal capital) was less than 15% at the beginning of the assessment period (1 January).

3. Corporate taxable entities (including corporations and companies liable to pay corporate income tax):

- In the case of corporate taxable entities, the gross dividend is generally fully subject to corporate income tax, unless the shareholding amounted to 10% or more at the beginning of the calendar year. If the shareholding amounts to 10% or more, 95% of the gross dividends are exempt from corporate income tax.

- Operating expenses in connection with the dividends can generally be taken into account.

- German investment income tax withheld and remitted by the disbursing agent may always be credited against corporate income tax; even a refund is possible, unless corporate income tax is levied (section 36 para. 4 of the German Income Tax Act).

- Within the limits of section 26 of the German Corporate Tax Act (K?rperschaftssteuergesetz - KStG) and section 34c of the German Income Tax Act, the Chinese withholding tax, to which no further claim for reduction exists, is to be credited against the corporate income tax payable on foreign income from China (per-country-limitation, section 68a of the German Income Tax Implementation Regulation). As a result, operating expenses incurred in an economic connection with the dividend reduce the amount to be credited. If no corporate income tax applies (e.g. due to losses incurred in Germany), the Chinese withholding tax is not creditable; a refund is not possible. Upon application, a tax deduction instead of a credit may be taken into account in the tax return when determining the income.

- For trade tax purposes, dividends are to be recorded at 100% if the shareholding (in nominal capital) was less than 15% at the beginning of the assessment period (1 January).

In the case of non-resident shareholders, the Chinese withholding tax of 10% may be credited against a tax payable on the dividend in the respective country in accordance with the national tax provisions of that respective country or the provisions of a corresponding double taxation treaty.

We would like to point out that the above information merely serves as an overview and that exceptions not explained in detail may apply in individual cases due to special circumstances.

Investors are advised to seek advice from a member of the tax advisory profession on the specific tax consequences of their investment.

Frankfurt am Main, in August 2021Haier Smart Home Co., Ltd.[1] See https://www.bzst.de/SharedDocs/Downloads/DE/EU_OECD/anrechenbare_ausl_quellensteuer_2021.pdf

17.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Haier Smart Home Co.,Ltd. Haier Industrial Park, Laoshan District 266101 Qingdao

China Phone: +49 6172 9454 143 Fax: +49 6172 9454 42143 E-mail: y.sun@haier.de Internet: smart-home.haier.com ISIN: CNE1000031C1, CNE000000CG9 (A-share), WKN: A2JM2W Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1226831 ? End of News DGAP News Service

1226831??17.08.2021?

@ dgap.de