According to reports, a German government spokesman has revealed that the ruling Social Democrats are planning to limit the amount of past losses that a company can offset against profits.
"We have been consulted on this," a finance ministry spokesman was reported as saying. "We have agreed on this issue in the past and also do so now."
Under plans being considerd by the ruling SPD, firms will limit the amount of losses that can be offset against profits to 50%, down from the current level of 60%, a party financial expert revealed in Wednesday’s edition of Tagesspiegel.
The move comes in response to British mobile telecommunications firm Vodafone’s attempt to claim a €20 billion tax credit from the state of Nord-Rhein Westphalia.
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