German corporate tax cuts hit buffers
SPD revolt means cuts to under 30% may not go ahead as planned
SPD revolt means cuts to under 30% may not go ahead as planned
Plans to cut the rate of
German
corporation tax have hit a hurdle, after members of the ruling coalition
revolted against the moves.
Members of the Social Democratic Party have reportedly objected to the
proposals, which entail cutting the nominal tax rate on businesses from 38.7% to
29.8%.
The move is being opposed by SPD members who say voters see the reform as a
gift to business after
years of cuts to
welfare payments, the
FT
reported.
Further Reading;
German taxman ends Hargreaves
move to Man Utd
Corporation tax minefield is
creating ‘two-tier’ system
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