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Public finances German government adopts extensive assistance package for regions affected by floods
Germany’s federal cabinet today approved financial support measures to provide immediate and unbureaucratic assistance to regions affected by recent floods. The federal government will provide an initial €200m to cover half of the costs of immediate assistance measures launched by the Länder. In addition, it will contribute financially to a comprehensive recovery programme.
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Public finances Emerging from the crisis with sound fiscal policy and optimism
The federal cabinet today adopted the government draft for the 2022 federal budget and the fiscal plan to 2025. The German government is continuing to pursue a decisive fiscal policy that includes large-scale assistance measures and record investment levels. In addition, the numbers show that the federal government is in good fiscal shape. Germany’s debt ratio is far lower than projected and …
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taxation Tax data from Dubai now going to the Länder
At the Federal Ministry of Finance’s behest, the Federal Central Tax Office (Bundeszentralamt für Steuern) has purchased data for the purpose of detecting international tax crimes. This is the first time that the Federal Central Tax Office has independently purchased data that will have a material impact on the taxation process.
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Public Finances Provisions relating to compensation for National Socialist injustice
Almost immediately after the end of the Second World War, it became clear that compensation needed to be provided to those who had suffered damage as a result of National Socialist injustice. Those who had suffered oppression due to their political opposition to National Socialism or on the grounds of race, religion or ideology were particularly affected.
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esrb-bericht ESRB – second report on low interest rate environment
The European Systemic Risk Board (ESRB) has published a second report on macroprudential policy issues arising from the low interest rate environment in the financial system of the European Union (EU). Looking beyond recent cyclical developments, the coronavirus (COVID-19) shock may have increased the likelihood and persistence of a “low for long” scenario.
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Climate action German Sustainable Finance Strategy
Today the federal cabinet adopted the first German Sustainable Finance Strategy. The goal of the strategy is to mobilise investments that are urgently needed for climate action and sustainability while also addressing the climate risks that are increasingly relevant to the financial system. Germany’s Sustainable Finance Strategy is setting a new course in the financial system based on the core …
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Climate action German Sustainable Finance Strategy
The federal cabinet adopted the first German Sustainable Finance Strategy on 5 May 2021. The goal of the strategy is to mobilise investments that are urgently needed for climate action and sustainability while also addressing the climate risks that are increasingly relevant to the financial system.
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Customs How to sail smoothly through customs
You may be offered to buy certain items at your travel destination that cannot be brought to Germany as a holiday souvenir.
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ccyb-indikatoren New indicators for setting the CCyB rate (Q4-2020)
The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q4 2020.
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europe German Recovery and Resilience Plan adopted
Today the German government adopted the German Recovery and Resilience Plan (DARP). Ninety percent of the spending in Germany’s recovery plan is targeted towards climate action and the digital transformation. This means that the German government is going well beyond the ambitious targets set by the EU. According to analysis by the German Institute for Economic Research (DIW), the planned …