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World Virtual meeting of G20 finance ministers and central bank governors
The G20 finance ministers and central bank governors met on 7 April 2021. The meeting took place in the form of a video conference. The theme of the second Finance Track meeting under Italy’s G20 presidency was “G20 policy responses to global challenges”. During the virtual event, the finance ministers and central bank governors adopted a communiqué and agreed on an update to the G20 Action Plan.
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Monthly report Overview of federal budget and financial data up to and including March 2021
The April 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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Financial relations between the Federation and Länder
This report contains a brief explanations of how financial relations between the Federation and Länder are structured, as stipulated by the German constitution and ordinary law; an overview of the financial resources of the different levels of government in Germany; and an overview of key co-financing arrangements between the Federation and the Länder.
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financial_markets Allocation report for Green Federal securities
On 20 April 2021, the German government published the first allocation report for its Green Federal securities issued in 2020. The “Green Bond Allocation Report 2020” provides investors with transparent and binding information on expenditures from the federal government’s environmental and climate protection programmes. It lists expenditures recognised as “green” in the 2019 federal budget and …
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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 €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.