SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank
Annual Report 2010 on Form 20-F
Item 10: Additional Information 130
Taxation of Capital Gains
Under the Treaty, a U.S. resident will not be subject to German capital gains tax in respect of a sale or other
disposition of shares. For U.S. federal income tax purposes, a U.S. holder will recognize capital gain or loss on
the sale or other disposition of shares in an amount equal to the difference between such holder’s tax basis in
the shares, and the U.S. dollar value of the amount realized from the sale or other disposition. Such gain or
loss will be capital gain or loss, and will be long-term capital gain or loss if the shares were held for more than
one year. The net amount of long-term capital gain realized by an individual generally is subject to taxation at a
current maximum rate of 15 %. Any such gain generally would be treated as income arising from sources within
the United States; any such loss would generally be allocated against U.S. source income. The ability to offset
capital losses against ordinary income is subject to limitations.
Shareholders whose shares are held in an account with a German bank or financial services institution (including
a German branch of a non-German bank or financial services institution) are urged to consult their own advisors.
This summary does not discuss their particular tax situation.
United States Information Reporting and Backup Withholding
Dividends and payments of the proceeds on a sale of shares, paid within the United States or through certain
U.S.-related financial intermediaries are subject to information reporting and may be subject to backup withholding
unless the U.S. resident (i) is a corporation or other exempt recipient or (ii) provides a taxpayer identification
number and certifies (on IRS Form W-9) that no loss of exemption from backup withholding has occurred.
Shareholders that are not U.S. persons generally are not subject to information reporting or backup withholding.
However, a non-U.S. person may be required to provide a certification (generally on IRS Form W-8BEN) of its
non-U.S. status in connection with payments received in the United States or through a U.S.-related financial
intermediary.
Backup withholding tax is not an additional tax, and any amounts withheld under the backup withholding rules
will be allowed as a refund or a credit against a holder’s U.S. federal income tax liability, provided the required
information is furnished to the IRS.
Shareholders may be subject to other U.S. information reporting requirements. Shareholders should consult their
own advisors regarding the application of U.S. information reporting rules in light of their particular circumstances.
German Gift and Inheritance Taxes
Under the current estate, inheritance and gift tax treaty between the United States and Germany (the “Estate
Tax Treaty”), a transfer of shares generally will not be subject to German gift or inheritance tax so long as the
donor or decedent, and the heir, donee or other beneficiary, was not domiciled in Germany for purposes of the
Estate Tax Treaty at the time the gift was made, or at the time of the decedent’s death, and the shares were not
held in connection with a permanent establishment or fixed base in Germany.
The Estate Tax Treaty provides a credit against U.S. federal estate and gift tax liability for the amount of inheritance
and gift tax paid in Germany, subject to certain limitations, in a case where shares are subject to
German inheritance or gift tax and United States federal estate or gift tax.
Other German Taxes
There are presently no German net wealth, transfer, stamp or other similar taxes that would apply to a U.S.
resident as a result of the receipt, purchase, ownership or sale of shares.