Allowances · Question 4 of 12
What is an exemption order (Freistellungsauftrag) at the bank for?
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Answer
- B So that the bank pays out income up to the specified amount without tax
Explanation
With the exemption order, the investor tells the bank how much of the saver's allowance it should take into account. Up to this amount, it deducts no tax. Anyone using several banks can split the amount, but not beyond the total allowance.