The new German government yesterday launched a package of tax breaks and eventual tax cuts for companies to boost investment.<\/p>\n
The package comprises a hefty tax write-off on investments in machinery and other equipment over the next three years, followed by a gradual reduction of corporate tax rate from 15 per cent to 10 per cent between 2028 and 2032.<\/p>\n
Germany yesterday launched a package of tax breaks and eventual tax cuts for firms to boost investment.
\nThe package comprises a hefty tax write-off on investments in machinery and other equipment over three years, followed by a drop in corporate tax rate from 15 per cent to 10 per cent between 2028 and 2032.
\nChancellor Friedrich Merz’s cabinet approved the package, pending approval by lawmakers.<\/p>\n
There will also be tax breaks over the next two-and-a-half years for companies that buy electric cars and initiatives to encourage research investment.<\/p>\n
Chancellor Friedrich Merz’s cabinet approved the package, pending approval by lawmakers, according to global newswires.<\/p>\n
The country\u2019s economy has shrunk in the last two years and is expected to stagnate this year.<\/p>\n
The new package is separate from a \u20ac500-billion (~$570-billion) fund that the ruling party coalition pushed through parliament before it took office last month to attract investment to the country\u2019s infrastructure over the next 12 years.<\/p>\n
“We are providing the economy with urgently needed planning certainty and creating strong investment incentives,” German finance minister Lars Klingbeil said.<\/p>\n
Economy minister Katherina Reiche said there will be further measures to cut energy costs, reduce bureaucracy and speed planning and approval procedures.<\/p>\n
<\/p>\n
Fibre2Fashion News Desk (DS)<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"The new German government yesterday launched a package of tax breaks and eventual tax cuts for companies to…\n","protected":false},"author":2,"featured_media":159976,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5310],"tags":[27314,27316,27315,27318,27319,27320,2000,299,1824,27313,27323,27322,27308,27331,27327,27311,27312,27310,27321,27329,27317,27324,27325,27309,27326,27330,27328],"class_list":{"0":"post-159975","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-germany","8":"tag-chemical-dyes-news","9":"tag-clothing-company-news","10":"tag-clothing-industry-news","11":"tag-cotton-news","12":"tag-cotton-reports","13":"tag-embroidery-news","14":"tag-eu","15":"tag-europe","16":"tag-germany","17":"tag-global-carpet-news","18":"tag-handicraft-news","19":"tag-home-furnishing-news","20":"tag-latest-textile-news","21":"tag-latest-union-budget-news","22":"tag-silk-news","23":"tag-textile-accessories-news","24":"tag-textile-association-organization-news","25":"tag-textile-business-updates","26":"tag-textile-fabrics-news","27":"tag-textile-fairs-exhibition-news","28":"tag-textile-fibre-news","29":"tag-textile-import-export-news","30":"tag-textile-industrial-news","31":"tag-textile-industry-news","32":"tag-textile-machinery-news","33":"tag-textile-market-trends-news","34":"tag-wool-news"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/159975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=159975"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/159975\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/159976"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=159975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=159975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=159975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}