Above €1,000 per year for singles (and €2,000 per year for couples f iling a joint

income tax return), dividends are taxed at the overall f lat rate of 25% (plus church tax,

if applicable) or, if you opt to, at your applicable income tax rate.

A 5.5% solidarity surcharge is levied on the 25% withholding tax, representing a global

rate of 26.375%. To benef it from the tax exemption on dividends up to €1,000 or

€2,000, as applies, a specif ic request must be sent to your paying f inancial institution.

IN GERMANY

If your shares are not held in an ISA (Individual Savings Account) or another specif ic

f iscal framework, dividends up to £500 per f iscal year are not taxed (i.e. between

April 6, 2025 and April 5, 2026). The dividend portion above this threshold is therefore

likely to be taxed.

However, taxpayers can benef it from an annual tax allowance, which applies

to the total taxable income of the year. Depending on your income, the allowance

is set at £12,570 for the tax year 2025-2026. If you earn more than £500 in dividends,

you need to assess your situation and add the dividend portion above £500 to your

other sources of income. If the total is lower than or equal to £12,570, your income

will not be taxed. If the total is higher than £12,570, your income will be taxed.

Depending on your situation, the dividends in excess of £500 will be taxed at a rate

of 8.75%, 33.75% or 39.35%.

IN THE UNITED KINGDOM

Taxation on the dividends of shares not held in an IRA Individual Retirement

Account depends on their holding period Qualif ied dividends received from

shares held for at least 61 days during the 121day period beginning 60 days before

the exdividend date will be taxable at the preferential rates applicable to longterm

capital gains ie 0 15 or 20 depending on the tax bracket

Other dividends are taxed at the ordinary income tax rates ie between 10

and 37 depending on the tax bracket Investment income including dividends

is subject to an additional net investment income tax of 38 if it exceeds certain

thresholds

IN THE USA