Aside from the measures adopted by tax offices, taxpayers and, in particular, multinational corporations should also take a look at the tools available to tackle the tax issues faced by distressed businesses.
Our insights can help you navigate the tax implications of COVID-19 and show you where we could assist you during this unstable time:
- Circular and decree of the German Federal Ministry of Finance and the Supreme Tax Authorities of the German Federal States
On 19 March 2020 the Federal Ministry of Finance and the Supreme Tax Authorities of the Federal States published, respectively, a circular and a decree introducing tax measures to combat the effects of COVID-19 on the economy.
The following is an overview of the measures which can be taken:
*Please note that tax claims against the taxpayer may not be deferred if a third party has to pay the tax for the account of the taxpayer, in particular in cases where the tax is to be withheld and remitted (e.g. wage taxes and dividend/royalty withholding taxes)