A security, usually issued by the government, – the income from which is not subject to a tax deducted at source, or – is not taken into account for income tax purposes, or – is not taken into account for property tax purposes. In financial theory models, such securities are often compared with comparable taxed bonds and deviations in yields are explained. – See housing bond.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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