Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Up to €500 million in tax cuts on the way

Share this article

Up to €500 million in tax cuts on the way
Photo: DPA
08:43 CEST+02:00
Chancellor Angela Merkel's centre-right coalition will likely reduce the tax burden for citizens by up to €500 million as part of its plan to simplify the German fiscal system, a media report said on Wednesday.

The sum would be the upper limit, coalition insiders told daily Passauer Neue Presse.

The new measures, set to be presented within the year, will address some 50 different aspects of the tax code, the paper said.

By 2013 the Finance Ministry would begin issuing preliminary tax returns to taxpayers, who could then choose to amend them if necessary, instead of having to file themselves each year.

Taxpayers will also see the simplifications in deductions for items such as child care costs.

During talks between the Finance Ministry and finance policy experts from Merkel's conservative Christian Democrats (CDU) and their junior coalition partners the pro-business Free Democrats (FDP), the two sides showed “a high level of consensus,” according to parliamentary liaison to the Finance Ministry Hartmut Koschyk.

Ideas from state finance ministries, the coalition parties and the Federal Finance Ministry are all included in the plan, the paper said.

Get notified about breaking news on The Local

Share this article

Become a Member or sign-in to leave a comment.
Advertisement

From our sponsors

Zagreb: Spend this summer in Croatia's vibrant capital city

Lush green parks throughout the city centre, imposing heritage buildings, real Central European cafe society and Mediterranean style hospitality. Welcome to Zagreb, Croatia's stunning capital!

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement