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

Advertisement

From our sponsors

The Swedish university where students tackle real-world problems

Ranked among the world's best young universities in the QS Top 50 Under 50, Linköping University (LiU) uses innovative learning techniques that prepare its students to tackle the challenges of tomorrow.

Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement