Coronavirus Emerging from the crisis with full strength
VAT in Germany will be reduced for a temporary period starting on 1 July 2020. The German Bundestag and Bundesrat have passed the Coronavirus Tax Assistance Act, which implements key parts of Germany’s unprecedented stimulus package. On top of the reduced VAT rate, measures include a bonus for families with children as well as extensive tax relief for single parents, businesses and other …
The June 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 the …
Coronavirus A protective shield for employees and companies
On 13 March 2020, Germany’s Finance Ministry and Economic Affairs Ministry jointly unveiled an assistance programme and tax policy measures totalling billions of euros. The two ministries agreed on an extensive package of measures to protect jobs and to protect businesses of all sizes in all sectors. The aim is to ensure that Germany’s health care system and economy are financially equipped to …
Public Finances Financial Times interview with Olaf Scholz
In an interview with the Financial Times, German finance minister and vice chancellor Olaf Scholz speaks about current issues. Focusing on the federal budget, he also outlines the prospects for Brexit. He emphasises the importance of a balanced budget without new debt whilst taking account of the need for “social cohesion” and the importance of the welfare state.