papers

Taxes in turnaround – swift legislative action

Only one month after the surprising decision of the German Federal Tax Court (“Bundesfinanzhof” (BFH)) on the so-called “Decree on Turnaround” (“Sanierungserlass”), the German Bundesrat had already proposed a new statutory regulation and also the German higher fiscal authorities (OFD Frankfurt) has issued a directive on how to deal with applications for the waiver on the taxation of “turnaround profits”. And now the German Federal Government (represented by the Federal Ministry of Finance, BMF) and the German Parliament seemingly want to set the pace:

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Recent developments on taxes in turnaround

Contrary to my belief, the German legislator seems to have understood the gravity of the situation with which the recent decision of the German Federal Tax Court (“Bundesfinanzhof” (BFH)) has left the turnaround community in dealing with companies in crisis. The German Bundesrat as well as the fiscal authorities reacted rather quickly, unlikely as it may have seemed.

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The German Economy in March 2017 – silver lining ahead

After all these questionmarks, doubts and armageddon-foresights (cf. for February here) now that: Hope! First, we all survived the 15th of March 2017 – despite the doomsday-sayers, neither the debt-ceiling nor the rate-hike in the US nor the Dutch elections could derail the “economic train” which seems to get momentum even beyond Germany now. But, as always, I am getting ahead of myself. So, let’s see what’s behind the (German) curtain for this month:

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