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A major part of our lengthy article no. 148 dealing with loss utilisation was devoted to the draft version of a directive on loss utilisation released by the Federal Ministry of Finance in the summer of 1998.
The final version of this directive has now been issued by the tax authorities (directive IV C 6 - S 2745 - 12/99 dated 16 April 1999).
The final version of the directive is by and large identical to the draft version. However, there are also a number of significant changes.
A forthcoming article will provide a detailed comparison of the final version of the directive with the draft version.
KPMG Germany has in the meantime prepared an English language translation of the final version of the directive. Persons desiring to obtain a copy of the translation should contact Ulrich Löwenstein, tax partner with KPMG Frankfurt, at one of the following numbers:
Disclaimer and Copyright
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