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Freistellungsauftrag

tax exemption order (for investment income)

noun FRY-shtel-lungs-owf-trak Rare

Usage Note

Freistellungsauftrag is an instruction a German bank account holder submits to exempt up to the annual Sparerpauschbetrag (saver's allowance) from withholding tax on interest and dividends. Each person can split it across multiple banks.

Examples

"Vergiss nicht, der Bank rechtzeitig einen Freistellungsauftrag einzureichen."

Natural Translation

Don't forget to submit a tax exemption order to the bank in time.

Literal Translation

Forget not, the bank in-time a tax-exemption-order to submit.

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