The German Parliament’s Finance Committee has moved to curb property tax avoidance that employs indirect transfers.
In a measure approved by the committee Wednesday, lawmakers agreed to reduce to 90% the property value transferred in share deals that triggers the tax over 10 years.
The proposal will now go to Parliament for a vote.
- The transfer tax is applied on any transfer of a property to a new owner. Some buyers and sellers avoid part of the levy by only exchanging shares in a company that holds the property assets.
- The rules currently allow taxpayers to avoid transfer tax ...