AGORA direct German tax return with BubbleTax
AGORA direct and German taxes
AGORA direct is the brand of First Quant GmbH in Berlin, an investment firm supervised by BaFin (ID 10123328). The broker acts as introducing broker for Interactive Brokers Ireland Limited (IBIE): AGORA direct provides access, platform and support, IBIE executes orders, holds the securities and keeps the account. Trading runs through a web version, a smartphone app or desktop software on more than 150 exchanges in over 33 countries; there is no minimum deposit and savings plans start at 10 euros.
The difference from a German bank lies in the custody: because IBIE in Ireland keeps the account, no German capital gains tax is withheld and no tax certificate under § 45a EStG is issued. You declare dividends, sales, options and fund income yourself in Anlage KAP, KAP-INV and SO.
German support, IBKR export
Unlike foreign introducing brokers, AGORA direct offers support in German: phone Monday to Friday from 9:00 to 18:30, remote assistance via TeamViewer, same-day callback. The customer area "Mein AGORA" bundles documents and account administration. The Flex Query export for BubbleTax, however, is created in the Interactive Brokers account management, because that is where the transaction data lives; the Flex Query guide describes the nine sections. Questions about the export itself go to AGORA support, questions about the report to BubbleTax support.
What BubbleTax calculates for AGORA clients
AGORA direct's product range spans stocks and ETFs, options, futures and CFDs, bonds, warrants and precious metals. BubbleTax processes everything that appears as a transaction in the Flex Query export, assigns sales using FIFO, converts at ECB rates and treats fund units under the German Investment Tax Act with partial exemption and advance lump sum.
AGORA direct recommends BubbleTax
AGORA direct recommends BubbleTax to its clients. Clients receive a personalised, single-use discount code from the broker through the regular channels (customer area "Mein AGORA", newsletter, client communication) and enter it at checkout.
How it works
- Export the Flex Query: in the IBKR account management of your AGORA account, XML format, period equal to the tax year
- Upload: to BubbleTax, the preview of the figures is free
- Redeem the discount code: enter the AGORA code at checkout
- Download the report: PDF with the figures for Anlage KAP, KAP-INV and SO
In brief
The technical terms on this page, one paragraph each. Legal bases in brackets.
- Flex Query
- The configurable data export in the Interactive Brokers account management, also used by introducing brokers such as CapTrader or LYNX. BubbleTax needs it as an XML file with nine sections. Once set up, you export it again for each tax year.
- FIFO
- First In, First Out: when you sell, the units bought first count as sold first (§ 20 Abs. 4 Satz 7 EStG). This determines the acquisition cost and thus the gain or loss. IBKR uses other methods by default; BubbleTax rebuilds the positions under FIFO.
- Vorabpauschale
- A notional minimum return on fund units (§ 18 InvStG): the amount by which a fund's distributions in a calendar year fall short of the base return. It mainly affects accumulating ETFs that distribute little or nothing. BubbleTax calculates it from your holdings and distributions.
- Partial exemption (Teilfreistellung)
- A fixed share of fund income stays tax-free, depending on the fund type (§ 20 InvStG): 30 percent for equity funds, 15 percent for mixed funds, 60 percent for real estate funds, 80 percent for foreign real estate funds. It applies to distributions, the Vorabpauschale and gains from selling the units.
- InvStG
- The German Investment Tax Act governs how income from investment funds and ETFs is taxed at investor level: distributions, Vorabpauschale and disposal gains (§ 16 InvStG), with the Vorabpauschale (§ 18 InvStG) and partial exemption (§ 20 InvStG). These values belong in Anlage KAP-INV.
- Spin-off
- A corporate action: a company splits off a part and books shares of the new company into your account. For tax purposes it has to be determined whether the new shares replace the old ones and how the acquisition cost is allocated (§ 20 Abs. 4a EStG). BubbleTax detects spin-offs from the Flex Query section Corporate Actions.
- Anlage KAP
- The income tax return form for capital income: dividends, interest, gains and losses from shares and derivatives, creditable withholding tax. The report names the line for every value.
- Anlage KAP-INV
- The form for investment income without German withholding at source, as with IBKR: distributions, Vorabpauschale and gains from selling fund units (§ 16 InvStG).
- Anlage SO
- The form for other income. Relevant for investors in the case of private sales transactions under § 23 EStG; the report shows such values separately from capital income.
See for yourself before you pay.
Upload your AGORA direct Flex Query XML and get your full tax report.