Talon tax (tax on coupon sheets)

An imperial tax introduced in Germany in 1909 on the issue of new interest and dividend coupons. The dividend warrant is part of the sheet of a share and entitles the holder to receive the dividend; see also § 803 of the German Civil Code (BGB). In 1911, the tax on talons brought more than 11 million marks into the Reich’s coffers. The talon tax was abolished in the course of the Reichsvermögenssteuer (wealth tax) introduced in 1922.

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