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taxation Scholz: “We’re taking action to eliminate tax havens”
The German cabinet adopted the draft Defence against Tax Havens Act on 31 March 2021. With the new law, the German government is taking action against tax evasion, tax avoidance and unfair tax competition from tax havens.
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Taxation Measures to increase tax fairness adopted
In March 2021, the federal cabinet initiated a range of measures to increase tax fairness. The aim is to eliminate tax havens and combat aggressive tax planning more effectively with the help of targeted instruments. In addition, updates to modernise corporation tax legislation will make family businesses more competitive.
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financial_markets Launch of the “Zukunftsfonds”
The German Federal Government is providing an additional EUR 10 billion for an equity fund for technologies of the future (“Zukunftsfonds”, or “Future Fund”). The fund will primarily benefit start-ups in the growth phase with high capital requirements. Today, Federal Minister of Finance Olaf Scholz and Federal Minister for Economic Affairs Peter Altmaier have tasked KfW with the execution and …
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taxation Tobacco Duty Modernisation Act adopted
The German cabinet adopted the draft Tobacco Duty Modernisation Act on 24 March 2021. With this legislation, the German government is adjusting tobacco duty rates and responding to changes in the tobacco market and in consumer behaviour. The new law also serves to improve public health and protect minors.
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taxation Scholz to boost the competitiveness of family businesses
The federal cabinet adopted the draft Act Updating Corporate Tax Law (Gesetz zur Modernisierung des Körperschaftsteuerrechts) on 24 March 2021. With this bill, the German federal government is improving the tax framework especially for small and medium-sized partnerships and family businesses. In addition, it makes German corporate tax law better suited for international business in a globalised …
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taxation Scholz: “A key step towards greater tax fairness”
Germany’s federal cabinet adopted the draft Act Implementing the Anti-Tax Avoidance Directive (Gesetz zur Umsetzung der Anti-Steuervermeidungsrichtlinie) on 24 March 2021. In the bill, the German government proposes stricter rules to fight aggressive tax planning. The new rules aim to effectively counteract tax avoidance strategies used by multinational corporations.
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Monthly report Overview of federal budget and financial data up to and including February 2021
The March edition of the ministry’s monthly report is now online. Every month we publish selected extracts from our monthly report in English. These extracts feature current data and information on federal budget trends, tax revenue, debt levels and guarantees, as well as key dates on the fiscal and economic policy agenda. The monthly report also includes interesting articles on topics within …
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europe Information on Brexit
As of 1 February 2020, the United Kingdom (UK) is no longer a member of the European Union (EU). The agreed transition period ended on 31 December 2020. The EU and the UK concluded a comprehensive Trade and Cooperation Agreement on 24 December 2020, opening a new chapter in EU-UK relations. The agreement was reached after less than a year of intensive negotiations, during which time the EU and …
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europe Brexit and financial markets
How does Brexit affect the financial market? The Trade and Cooperation Agreement covers financial services in the same way as they are generally covered in the EU’s other free trade agreements with third countries. In particular, both parties have committed to keeping their markets open for operators from the other party seeking to supply services through establishment.