Despite the Schroeder government’s recent efforts to cut the nation’s tax burden, Germany now has the highest rates of corporate tax in Europe according to a government study.
The report by the Federal Finance Office, an arm of the Finance Ministry, cited in local media reports earlier this month, revealed that the combined level of corporate taxes paid by German firms at the federal and regional level was equal to 40%.
The findings highlight the growing differential between German corporate income tax rates and those of the ten EU accession states, many of whom have begun to cut taxes quite aggressively in preparation for the single market.
This is a point noted by the Finance Office report which acknowledges how tax competition "will become sharper with the accession of new member states."
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