German endowment policies have been temporarily saved from damaging changes in taxation following fai...
German endowment policies have been temporarily saved from damaging changes in taxation following failure of the German parliament's upper house. The legislation to disallow tax re-endowment policies had attracted criticism from product providers and BVI, the German mutual funds association, which was against the change as it left annuity products as the only tax efficient alternative for German investors. As it currently stands, any 12-year endowment policy that receives five years of premiums is exempt from tax. Endowment policies have therefore been a popular structure for private pensi...
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