A new law designed to make Germany’s venture capital market more attractive to investors was last week adopted by the majority of lawmakers in the upper house of the nation’s parliament, and will take immediate effect.
Under the changes, only 50% of ‘carried interest’ deriving from venture capital fund investment income will be subject to taxation. At present such income is fully taxed.
The industry in Germany has argued that the current rules act as a disincentive to investment in the country’s venture capital market, and the changes are intended to bring Germany's rules more into line with internationally accepted practices.
Last year, total venture capital investment in Germany reached a reported €707.9 million. This compares to a figure of €1.3 billion in 2002.
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