Tax

Vorabpauschale (deemed fund income)

The Vorabpauschale is a statutory amount of deemed fund income on which tax may be due, not the tax itself. Distributions and fund performance limit the amount; distributing funds can also be affected.

Under section 18 InvStG, the Vorabpauschale captures the positive difference between a capped base return and the fund's distributions. The base return uses the year-start value and 70 percent of the published base interest rate; performance and distributions limit it.

It is deemed received on the first working day of the following year. Any tax payment is a different amount from the deemed income itself. Investboard's calculator lets you explore a liquidity-planning scenario. Inputs and model results do not replace your broker's tax statement.

The terms in practice.

Vorabpauschale 2026: what ETF investors need to know

Basiszins, calculation and practical tips on the Vorabpauschale for accumulating ETFs.

Vorabpauschale (deemed fund income)

The terms in practice.

Vorabpauschale 2026: what ETF investors need to know

From knowledge to clarity