Germany Announces New Tax Help for Pandemic-Hit Businesses

Germany will double the amount companies can write off against their taxes and extend a value-added-tax reduction for the hospitality sector, the Finance Ministry announced Thursday.

The measures are part of the government’s third major package aimed at helping the economy cope with the fallout of the coronavirus pandemic.

• Companies in Germany can now write off 2020 and 2021 losses of up to 10 million euros ($12 million) per year. Previously, the maximum amount was 5 million euros per year. The measure aims to create more liquidity for companies.
• The ruling coalition also decided to extend hospitality sector ...