FlyerTalk Forums - View Single Post - LH sending out warning letters to account maximisers!

Jul 14, 2011 | 6:55 am

#57

gum

Join Date: Sep 2004

Location: Southern Bavaria, Germany

Programs: LH Blue, BA Blue, Hyatt Gold

Posts: 1,517

Revenue Service should be ok & taxation also

Quote:

Originally Posted by mamb0

So now you triumphed over Miles and More, what do you do with the Revenue Service and Taxation?

Just wanted to help and don´t see any Revenue Service and Taxation problem.

Accessions tax in Germany between relatives would start with amounts of 5 digits (calculated in Euro) dependent on who you are (son, father, wife). As this is no CASH transfer there shouldn´t ring an alarm bell due to money laundry.

Taxation: The interest gained will be added to the savings account at years end and from that 25 % flat rate withholding tax would be deducted. @:-)

So in case that anyone would do that only the limit of your credit card will stop you - as I assume.

(And the conversion rate respectively the fees which I didn´t find really great. So people may use this only in case they have already reached the limit of M%M miles which they normally can buy for the account. )

Reply