Tax & Legal

Categories: All (44 found)

1. 01.07.2024

   Constitutionality of the loss set-off restriction for forwar ...

   In the summary review required during suspension proceedings under Section 69 (3) of the German Tax Court Code, the loss set-off restriction for forward transactions/futures under Section 20 (6) Sentence 5 of the German Income Tax Act (ITA) in the version of the Finance Act 2020 of 21 December 2020 (Federal Law Gazette I 2020, 3096) is incompatible with Article 3 (1) of the German Constitution. This was decided by the Supreme Tax Court in a ruling published on 27 June 2024.

   Categories: Supreme Tax Court cases, Tax & Legal New ...

   Keywords: Futures, losses, loss curtailment, Incom ...
2. 07.06.2024

   Federal Cabinet approves government draft of the Finance Act ...

   At its meeting on 5 June 2024, the Federal Cabinet adopted a government draft for the Finance Act 2024 (FA 2024). Despite numerous revisions, the material amendments from the original draft from 8 May 2024 have been limited. The main changes are shown in italics and red in the following summary of the government draft in italics and red.

   Categories: Official Pronouncements, Tax & Legal New ...

   Keywords: Real Estate, trade tax, General Tax Code ...
3. 05.06.2024

   Update: Federal Ministry of Finance publishes draft bill for ...

   On 17 May 2024, the Federal Ministry of Finance (MoF) sent a draft bill for the Finance Act 2024 (FA 2024) to the professional associations for comments by 24 May 2024. The draft has now also been published on the MoF website. The law is intended to implement changes to various areas of German tax law which need adjustment. The focus is on adjustments required by EU law and case law of the European Court of Justice (ECJ), the German Federal Constitutional Court, and the German Supreme Tax Court. Furthermore, follow-up amendments to previous legislative changes will be made. This blog summarises the key content. - Meanwhile the Federal Cabinet has approved the draft bill (see Update further below at the end of this post).

   Categories: Official Pronouncements, Legislation

   Keywords: real estate transfer tax, trade tax, Reo ...
4. 22.03.2024

   Bundesrat approves the Mediation Committee compromise on the ...

   On 22 March 2022, after tough negotiations, the Bundesrat (Federal Council) approved the compromise reached by the Mediation Committee on the text of the Act to Strengthen Growth Opportunities, Investment and Innovation as well as Tax Simplification and Fairness (Growth Opportunities Act).

   Categories: Official Pronouncements, Tax & Legal New ...

   Keywords: trade tax, Income Tax Act, Growth Opport ...
5. 27.02.2024

   Growth Opportunities Act: Dispute to continue despite compro ...

   In its session of 21 February 2024, the Mediation Committee of the Bundestag and Bundesrat concluded its negotiations in relation to the Act to Strengthen Growth Opportunities, Investment, and Innovation as well as Tax Simplification and Fairness

   Categories: Official Pronouncements, Tax & Legal New ...

   Keywords: Corporation tax, trade tax, Income Tax A ...
6. 16.02.2024

   Partial waiver of a subsidised loan under the Upgrading Trai ...

   In a recent judgement, the Supreme Tax Court (BFH) ruled that partial loan forgiveness for professional development training constitutes taxable income from employment under Section 19 (1) Sentence 1 No. 1 of the Income Tax Act.

   Categories: Supreme Tax Court cases

   Keywords: loan, Income Tax Act, income from employ ...
7. 24.11.2023

   Bundesrat approves Future Financing Act

   On 24 November 2023, the Bundesrat (Federal Council) approved the Future Financing Act, which the Bundestag had passed just a few days earlier on 17 November 2023. The law can now be submitted to the Federal President for signature by the Federal Government and then published.

   Categories: Tax & Legal News, Legislation

   Keywords: Crowdfunding, Blockchain, employee taxat ...
8. 23.11.2023

   Bundestag approves Future Financing Act

   On Friday, 17 November 2023, the Bundestag passed the Federal Government's draft bill on financing future-proof investment.

   Categories: Tax & Legal News, Legislation

   Keywords: Blockchain, tax deferral, Income Tax Act
9. 21.11.2023

   Bundestag approves Growth Opportunities Act

   On 17 November 2023, the Bundestag approved the Act to Strengthen Growth Opportunities, Investment, and Innovation as well as Tax Simplification and Fairness (Growth Opportunities Act) in the form recommended by its Finance Committee. The Act will be presented to the Bundesrat on 24 November 2023. It cannot currently be ruled out that the Bundesrat will convene the Mediation Committee to discuss individual provisions of the Act (the climate protection investment premium, in particular, will probably be discussed).

   Categories: Official Pronouncements, Tax & Legal New ...

   Keywords: Corporation tax, Income Tax Act, Growth ...
10. 14.11.2023

    Bundestag decides on Future Financing Act

    On Thursday, 16 November 2023, the Bundestag will vote on the Federal Government's bill to finance future-proof investments.

    Categories: Official Pronouncements, Tax & Legal New ...

    Keywords: Real Estate, investment funds, employee ...
11. 29.11.2022

    Finance Bill 2022 - Introduction of a so-called "windfall ta ...

    The Federal Ministry of Finance (MoF) has provided the Finance Committee of the Bundestag several formulation aids for its ongoing consultations on the Finance Bill 2022.

    Categories: Legislation

    Keywords: Inflation, Energy, Income Tax Act, corpo ...
12. 11.11.2022

    Bundestag passes Inflation Compensation Act

    On 10 November 2022, the Bundestag passed the bill introduced by the ruling Coalition "to compensate for inflation through a fair income tax rate and to adjust other tax regulations" (Inflation Compensation Act.)

    Categories: Legislation

    Keywords: Inflation, Income Tax Act, income tax ex ...
13. 04.11.2022

    Adaptation of the Inflation Compensation Bill

    On 2 November 2022, the Federal Cabinet adopted the 5th Tax Progression Report and the 14th Subsistence Minimum Report. The Inflation Compensation Bill, which was introduced on 14 September 2022, is now to be adapted during further parliamentary procedures. It is to take effect on 1 January 2023

    Categories: Legislation

    Keywords: Income Tax Act, income tax exemption, ch ...
14. 28.10.2022

    Bundesrat adopts recommendations of its committees on the Fi ...

    In its meeting today, the Bundesrat (Federal Council) by and large adopted the various demands and requests for review made by its committees in their representations on the Finance Bill 2022.

    Categories: Official Pronouncements, Legislation

    Keywords: Corporation tax, Income Tax Act, Finance ...
15. 15.09.2022

    Federal Cabinet introduces a simplification of tax legislati ...

    On 14 September 2022, the Federal Cabinet approved a draft Finance Bill 2022, a working model for a bill to temporarily reduce the VAT rate on gas supplies made through the natural gas grid, and to amend the Energy and Electricity Tax Act peak compensation scheme.

    Categories: Tax & Legal News

    Keywords: Royalty income, basic tax-free allowance ...
16. 14.09.2022

    Federal Cabinet approves Inflation Compensation Bill: cushio ...

    On 14 September 2022, the German Federal Cabinet approved a bill for an Inflation Compensation Act to compensate for inflation-related additional burdens by means of a fair income tax rate and an adjustment to other tax regulations.

    Categories: Tax & Legal News

    Keywords: Income Tax Act, income tax exemption
17. 08.09.2022

    Coalition parties present further package of measures for re ...

    Following their committee meeting on 04 September 2022, the coalition parties have presented a further package of measures (known as the Third Relief Package) for relief in the current crisis.

    Categories: Official Pronouncements, Tax & Legal New ...

    Keywords: relief, EU Law, Income Tax Act, legislat ...
18. 20.06.2022

    Update: Traffic Light Coalition Agreement

    On November 24, the SPD, the Greens and FDP concluded their coalition talks. The party membership of the three parties have yet to approve the Coalition Agreement. Members of the Green party can vote on the Coalition Agreement and the proposals for personnel in the ten days following 24 November 2021.

    Categories: Tax & Legal News

    Keywords: Income Tax Act, Business taxation, coali ...
19. 10.06.2022

    UPDATE: Fourth Corona Tax Assistance Act: amendments to the ...

    After the Bundestag adopted the Fourth Corona Tax Assistance Act in its session on 19 May 2022 following the resolution recommendation of its Finance Committee, the Act is now on the agenda of the Bundesrat for 10 June 2022.

    Categories: Official Pronouncements, Tax & Legal New ...

    Keywords: Corporation tax, Income Tax Act
20. 07.06.2022

    Federal Ministry of Finance: Effects of the so-called 9-Eur ...

    On 31 May 2022, the German Federal Ministry of Finance (MoF) published a circular on the salary withholding tax treatment of supplementary payments by employers to employees' expenses for local public transport during the period in which the so-called 9-Euro-Ticket is available. The circular provides practical guidance on the application of the tax exemption of Section 3 Number 15 of the German Income Tax Act (ITA) vis-à-vis the 9-Euro ticket

    Categories: Official Pronouncements, Tax & Legal New ...

    Keywords: Personal expense deduction, Income Tax A ...
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