Notification of donation - tax submission
Dear Mr. Färber,
I am a German citizen and have been residing in Germany since 09/2013. I am liable for taxes, but I am a housewife and have no income (currently living with my parents). My husband is a non-resident for tax purposes with a residence outside the EU.
My husband now wants to gift me an amount of over 500,000 EUR (the tax-free allowance is 500,000 EUR, and anything over that up to 300,000 EUR is subject to an 11% tax, as far as I know, since we are spouses). The amount will be transferred from an offshore account in the UK to my recently opened account at the same bank.
Where do I need to report the gift in order to pay taxes - to the Bundesbank or to the tax office at my place of residence? The money will not be transferred to Germany, as I intend to use it to purchase a property in a non-European country in the near future.
I have received a tax number, which I also provided when opening the account in the UK, as I understand that the taxes on the interest will be automatically withheld and sent to Germany. However, I have not received a tax card from the tax office, as I have no income in Germany.
Which form do I use to report the gift and where do I do it? What other things do I need to consider?
Thank you!
