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Tax & Legal

Tax & Legal

Government releases draft Corona – Tax Assistance Bill


At its meeting on 6 May 2020, the Federal Cabinet adopted the Corona Tax Assistance Bill, which – with the exception of editorial changes – essentially corresponds to the Federal Ministry of Finance’s original formulation. The only change worth noting here is an addition to the explanatory memorandum on the tax exemption on subventions by employers to reduced hours compensation payments and seasonal reduced hours compensation payments vis-à-vis corrections to salary withholding tax deducted prior to the Act taking effect. Continue reading