Withholding taxes paid on bank account interest can be claimed for tax purposes. When interest is credited to a savings account, the amount usually corresponds to only 65% of the actual interest earned. The remaining 35% is paid by the bank to the tax authorities.

If the relevant accounts are declared in the tax return, the withholding tax can be refunded. There are additional details to consider for the correct accounting of withholding taxes, as they can also arise from other transactions and there are specified limits for the respective amounts.