Please note that the following answer only applies to clients of our Broker offering residing in Germany, Austria and Italy.


Taxation in Germany

ELTIFs are taxed like regular funds or ETFs. In Germany, realized capital gains from the sale or redemption of shares are subject to capital gains tax, plus the solidarity surcharge and possibly church tax.


For German taxpayers, the custodian bank generally automatically deducts taxes on capital gains, solidarity surcharge and possibly church tax. This also includes the annual advance lump sum, which is due at the beginning of the year as with regular funds and ETFs. The BlackRock Private Equity Fund is not subject to a partial tax exemption.


Scalable Capital does not provide tax advice. Please contact your tax advisor to clarify individual questions.



Taxation in Austria

ELTIFs are taxed like regular funds or ETFs. In Austria, you may have to declare your investment income yourself in your annual income tax declaration. Scalable Capital offers a free tax report to assist you with your filing. You can find more information here.


Scalable Capital does not provide tax advice. Please contact your tax advisor to clarify individual questions.



Taxation in Italy

ELTIFs are taxed like regular funds or ETFs. In Italy, you may have to declare your investment income yourself in your annual income tax declaration. Scalable Capital offers a free tax report to assist you with your filing. You can find more information here.


Scalable Capital does not provide tax advice. Please contact your tax advisor to clarify individual questions.