17 April 2020

COVID-19 – Tax Relief for Investment Funds

Due to the COVID-19 pandemic, the passive violation of asset composition limits in March and April 2020 will be without consequences for investment funds

On 09 April 2020, the Federal Ministry of Finance (BMF) (after coordination with tax authorities of the federal states) published a decree regarding tax relief measures for investment funds reflecting the economic consequences of the COVID-19 pandemic. According to this decree, a passive violation of asset composition limits between 01 March and 30 April 2020 will not be considered a substantial violation of the asset composition requirements for investment funds and, furthermore, such a passive violation will not be counted towards the statutory limit of 20-business days. In the case of special investment funds, a passive violation of the limits during this period will not be considered a substantial violation of the investment law provisions of Sec. 26 Investment Tax Act (InvStG).

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