On 23 June 2009 ministers and senior officials of 19 countries came together in Berlin to review the progress that has been made with respect to the implementation of the OECD standards on transparency and the exchange of information in tax matters since their last meeting on 21 October 2008 in Paris.

An English summary of the outcome of the conference can be found here.

The following are the most important aspects as well as future objectives of the conference Continue →

Among other things, the Citizen Relief Act amends the so-called Mantelkauf regulation, which places various restrictions on the use of the loss carry-forwards of companies acquired in share-purchase arrangements. For general information regarding the main regulation, please see our last blog entry from 5 June 2009.

The amendment to the regulation would implement a restructuring clause, initially valid for two years, which Continue →

The global economic crisis is hitting Germany, the so-called ”world export champion“, hard. German exports experienced a downturn of 21.9 % in the first quarter of 2009, compared to the first quarter of 2008. In fourth quarter 2008 the slowdown was only 6 %. Continue →

Deutsche Bank recently answered a catalogue of questions posed by the data-protection authorities of the Federal State of Hessen, where its headquarters is located, handing in a 9-page paper in response to accusations that it spied on members of both its board of directors and its supervisory board.

Deutsche Bank had previously admitted having problems in its company group security which led Continue →

Arcandor, the German retailer which owns the German department store chain “Karstadt” as well as a major stake in the UK travel group “Thomas Cook” told the German government on Tuesday that it would file for insolvency if it did not obtain assurance of state aid.

The German Economic Minister, Theodor zu Guttenberg, told media on Monday that the German government would be careful in handing out state aid if not even the company’s owners were convinced of the company’s chances at recovery. However, the government Continue →

The “Zinsschranke” and “Mantelkauf” regulations, both created under the German Business Tax Reform of 2008, were intended to limit the misuse of tax saving possibilities. However, under the current economic crisis, these regulations are proving to be too negative for businesses. Several industry associations, which have criticized the regulations from the outset, have therefore been requesting a revision of the regulations for months.

The Citizen Relief Act (Bürgerentlastungsgesetz) currently going through parliament will include Continue →