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As required by German tax law, we'll deduct taxes from any interest we pay to you. We do this before it's credited to your Instant Access Savings. Revolut withholds the applicable taxes and pays it to the tax office. The tax deductions include:

• Capital gains tax — 25%
• Solidarity surcharge — 5.5%
• Church tax — 0%, 8% or 9%, based on your association with church

The deductible tax needs to reach €0.01 before we begin withholding this tax. As a result, the tax rate applied to individual interest payment transactions may differ. Read this FAQ to learn how to calculate interest and taxes on Instant Access Savings.

If you're a member of a church, federal tax law mandates us to withhold church tax on your capital gains tax, along with a solidarity surcharge. This is as a result of Section 51a of the Income Tax Act.

Revolut queries your church tax data from the Federal Central Tax Office, based on the tax ID number or identification details you shared with Revolut when you signed up.

The church tax is 8% in Bavaria and Baden-Württemberg and 9% in the remaining federal states. The church tax paid can be deducted as a special expense, so that the capital gains tax of 25% is reduced as follows:

• 24.51% capital gains tax with 8% church tax
• 24.45% capital gains tax with 9% church tax

You can place blocking details on your church tax query with the Federal Central Tax Office directly if you don’t want Revolut to receive this information. You can find further information on the Federal Central Tax Office (BZSt) website.

Review the Customer Privacy Notice for more information about how Revolut processes and protects your personal data.

If you have any questions regarding your tax responsibilities, you should seek independent advice from a professional tax adviser.