Germany MOF Releases Draft Bill to Amend Annual Tax Act 2022 & More Breaking News

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Daily Tax Report: International

Aug. 3, 2022, 5:00 AM

The German Ministry of Finance July 28 released a draft bill to amend the Annual Tax Act 2022. The draft bill includes measures that would: 1) repeal the decision related to the 42 percent special tax rate applicable to the 2007 assessment period; 2) increase the straight-line depreciation rate to 3 percent for residential buildings; 3) provide a full deduction for special pension expenses from 2023; 4) increase the savings and training allowances; 5) provide a tax exemption for the basic pension surcharge; and 6) implement EU directives for VAT payment services and recordkeeping obligations. [Germany, Ministry of Finance, 07/28/22] …

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