A much-needed overhaul of the German taxation system is unlikely to commence during the current parliament, and may not begin until 2008, according to opposition finance and economics expert Friedrich Merz.
Speaking to the Financial Times, Merz commented that only a victory by the centre-right Christian Democrats in 2006 will guarantee that the measures needed to simplify the tax code will begin before then.
His comments follow recent remarks from Chancellor Gerhard Schroeder that 2004 should represent a period of calm on the legislative front after a series of key labour market and social security reforms, not to mention several billion euros in tax cuts, were negotiated last year.
However, it is widely recognised that the complexity of the nation’s tax code urgently needs addressing, and Germany’s panel of economic policy advisors, known as the five ‘wise men’ has warned that tax law is "fast losing any semblance of being a structured, rational system".
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment