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23 March 2020

COVID-19 – Tax Relief Measures

THE CORONA CRISIS IS A HEAVY BURDEN ON CERTAIN GERMAN BUSINESSES. THE GOVERNMENT AND THE FEDERAL STATES HAVE NOW DECIDED TO GRANT TAX EXEMPTIONS TO THOSE AFFECTED.

On 19 March 2020, the Federal Ministry of Finance (BMF) and the highest tax authorities of the federal states took action in order to mitigate the consequences of the current corona crisis for all taxpayers and companies operating in Germany. The Finance Ministry sent out a letter in this regard and the tax authorities of the federal states issued a decree of identical content. The relief measures aim in particular at maintaining liquidity during the crisis and at avoiding additional strain on companies due to tax payments. Beyond that, tax optimisation can be an additional way of making it through this crisis using existing regulations (i.e. tax-free restructuring income) and tax-efficient restructuring measures.

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Christine Ström
+49 30 203907-7763
presse@gsk.de

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