Tax Relief

Germany Gazette’s regulation to implement additional tax relief measures as a consequence of coronavirus

The Official Gazette of March 17 published the Third Corona Tax Aid Act, which implemented further tax relief measures due to the coronavirus pandemic. The law contains measures: 1) Further extension of the temporary VAT rate of 7 percent for restaurant and catering services until December 31, 2022; and 2) Increase the tax loss carryforward to a maximum of 10 million euros (11.9 million US dollars) for 2020 and 2021 with a maximum of 20 million euros (23.8 US dollars) for joint assessments. The law comes into force on January 1, 2022. [Germany, Official Gazette, 03/17/21]

Reference:
See Law of March 10, 21, Official Gazette Part I No. 10/2021.

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