- German Ministry of Finance published first draft of proposal for Annual Tax Act 2024
- Draft proposal consists of 243 pages with technical updates and amendments
- No comprehensive tax reform measures or changes in tax rates included
- Proposal must be approved by government before entering legislative process
- Notable measures include tax neutral transfer of assets between partnerships, VAT threshold increase, technical updates to various tax laws
- Wage tax relief proposed for certain benefits in kind
- Concept of “deemed or fictitious real estate-owning entity” for real estate transfer tax purposes to be abolished
- Interested parties can submit comments on draft proposal until 24 May 2024.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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