30.06.2020

Extension of Tax Benefits for Electric Vehicles as Company Cars

In the course of the second German Coronavirus Tax Relief Act, the legislator has increased the maximum amount of the gross list price up to which a preferential taxation of private use of fully electric…

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30.06.2020

Reintroduction of the Reducing Balance Method of Depreciation of Movable Assets

The second German Coronavirus Tax Relief Act restores the possibility, urgently demanded by the business community, of using the declining balance method of depreciation on movable fixed assets. The…

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29.06.2020

Tax support for research and development is extended and increased

With effect from 1 January 2020 the German Research Allowance Act (Forschungszulagengesetz, FZulG) has been introduced. The initial restriction of the Act to six months has now been lifted and, at the same…

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29.06.2020

Liquidity through tax loss carrybacks

In view of the dramatic economic effects of the coronavirus pandemic, the legislator has reacted by providing further relief: The Second Coronavirus Tax Relief Act temporarily, but at the same time…

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28.06.2020

Second Coronavirus Tax Relief Act: Reduction of the Value Added Tax Rates as of 1 July 2020

1. Reduction of the Value Added Tax Rates as of 1 July 2020 The Federal Parliament (Bundestag) and the Federal Council (Bundesrat) today have adopted the Second Coronavirus Tax Relief Act. This Act…

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07.05.2020

Update: Extension of the Period of the Retrospective period for Restructuring Measures in the German Reorganization Tax Act (UmwStG)

We have reported that the law for the Mitigation of the consequences of the COVID-19 pandemic in Civil, Insolvency and Criminal Proceedings Law of 27 March 2020 ("COVID-19 Law") extended the commercial law…

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08.04.2020

Period of the Retroactive Effect for Restructuring Measures extended – Does this also apply for tax purposes as part of the German Reorganisation Tax Act?

On 27 March 2020, the law for the Mitigation of the Consequences of the COVID-19 Pandemic in Civil, Insolvency and Criminal Proceedings Law was announced in the Federal Law Gazette (BGBl. I 2020, page…

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06.04.2020

Inheritance tax: Tax exemption for business assets at risk?

The coronavirus has already prompted the legislator to introduce far-reaching aid measures and tax breaks. So far, the inheritance and gift tax law has not been addressed. The wage bill regulation as…

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25.03.2020

Coronavirus: Refund of VAT Special Advance Payment

In addition to the measures discussed by us on 19 March 2020, the fiscal authorities of some of Germany's federal states have now decided on further relief ‑ particularly for VAT ‑ in order to strengthen…

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18.03.2020

Update: Tax reductions in the corona crisis

German Federal Ministry of Finance takes a stand on tax reductions for companies encountering liquidity problems because of coronavirus Many companies have made very good profits in previous years, and…

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