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Could you kindly elaborate on how trusts are taxed in Germany? I've heard that distributions from US trust assets are typically treated as capital gains. Could you provide some more detail on this? Specifically, does the German Income Tax Act, EStG, Section 20 (1) no. 9 indeed state that these distributions are subject to a capital gains tax? And if so, what is the rate of this capital gains tax for a domestic beneficiary? Is it indeed 25 percent? Thank you for clarifying this matter for me.
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