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The expected legislation amending certain aspects of the 1996 Tax Act was enacted into law on 18 December 1995. The changes made by the amendment legislation are in general minor. As anticipated, the amendment legislation extends through 1996 the exemption from trade tax on capital in the New German States, albeit limited to property attributable to a permanent establishment located in the these States. With respect to West Berlin only, the new act limits the tax incentives to businesses with no more than 50 employees (instead of 250 as originally intended - see our previous articles).
Disclaimer and Copyright
This article treats the subjects covered in condensed form. It is intended to provide a general guide to the subject matter and should not be relied on as a basis for business decisions. Specialist advice must be sought with respect to your individual circumstances. We in particular insist that the tax law and other sources on which the article is based be consulted in the original, whether or not such sources are named in the article. Please note as well that later versions of this article or other articles on related topics may have since appeared on this database or elsewhere and should also be searched for and consulted. While our articles are carefully reviewed, we can accept no responsibility in the event of any inaccuracy or omission. Please note the date of each article and that subsequent related developments are not necessarily reported on in later articles. Any claims nevertheless raised on the basis of this article are subject to German substantive law and, to the extent permissible thereunder, to the exclusive jurisdiction of the courts in Frankfurt am Main, Germany. This article is the intellectual property of KPMG Deutsche Treuhand-Gesellschaft AG (KPMG Germany). Distribution to third persons is prohibited without our express written consent in advance.
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