On 16 August 2023, Germany’s Federal Cabinet approved a draft (available in German only) of the Financing for the Future Act, which includes significant adjustments to certain VAT exemptions applicable to the financial sector. Through these changes, the German legislator intends to eliminate Germany’s competitive disadvantages within the EU and strengthen Germany as a location for investment funds. If the draft law is adopted, the new rules would come into force on 1 January 2024.
Source: taxathand.com
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