Germany Gazettes Annual Tax Act 2024

The German Official Gazette Dec. 5 published the Annual Tax Act 2024. The law includes measures: 1) increasing VAT exemption thresholds for small businesses to 25,000 euros (US$26,417) from 22,000 euros (US$23,247) for the prior year, and to 100,000 euros (US$105,674) from 50,000 euros (US$52,841) for the current year, effective Jan. 1, 2025; 2) introducing the EU small business VAT exemption regime for cross-border supplies, from Jan. 1, 2025; 2) requiring private investors of investment funds to pay tax if they leave the country and purchased investment shares priced at a minimum of 500,000 euros (US$528,425); and 4) implementing technical ...