On July 29, 2020, the German federal cabinet approved a tax bill that adds measures to alleviate the non-public source of income tax.
Among the measures in the 12 billion euro package ($14 billion) is an accumulation at the source of the tax exemption exempt from 9,408 euros to 9,696 euros in 2021 and 9,984 euros in 2022.
In addition, non-public sources of income taxes will be higher in 2021 and 2022 to cope with wage inflation. The magnitude of these increases will be based on the effects of a factor report to be published in the autumn of 2020.
Child tax relief will also be higher in 2021, from EUR 7,812 to EUR 8,388.
Right
A review and forecast of the climate of business, laws and investments in Cyprus.
A review and forecast of the climate of business, laws and investments in Malta.
A and forecast Jersey’s international, legal and investment climate.
A review of the latest budget news and monetary statements from governments around the world.
Daily news on tax issues.
Source of offshore schemes
Structure comparison tool.
Serve expats with detailed information
© 2020 Wolters Kluwer and/or its subsidiaries. All rights are reserved.
IMPORTANT WARNING: Wolters Kluwer (BSI) Limited has taken moderate care in the search and presentation of the data contained in this Agreement, but is not responsible for any monetary loss or damage or other damage that may result from its use. In particular, users are asked to make appropriate professional recommendations before participating in offshore jurisdictions, offshore trusts or offshore investments.
The Tax-News logo is owned and operated through Wolters Kluwer (BSI) Limited.