In the German economy, it has been in crisis for years at several corners and ends – studies show this again and again. Companies complain in particular about the high energy prices, a comparatively heavy tax burden and the shortage of skilled workers. With the draft growth opportunities law, the Federal Ministry of Finance (BMF) presented one of several building blocks for economic growth on 17 July 2023. In this way, the BMF operates largely within the scope of its responsibilities, so that the Growth Opportunities Act in particular sets tax incentives and tries to close previous regulatory gaps.
The innovations cover all areas of substantive and procedural law. We give an overview of the most important changes!
1.Background and purpose of the Growth Opportunity Act
In the “Draft Law for the Strengthening of Growth Opportunities, Investments and Innovation as well as Tax Simplification and Tax Fairness”, the BMF also addresses the essential background to the development of the same. In essence, the law should contribute by means of tax changes, among other things, a part to the solution of the following problems and crises:
This article does not replace tax or legal advice in an individual case. Facts, current law, jurisdiction, documentation and implementation remain decisive.