The German Ministry of Finance July 12 posted online Letter No. 2024/0499981, announcing amendments to the VAT Application Decree (UStAE) to reflect a Jan. 1 income tax deduction change related to gifts contained in the Growth Opportunities Act. The letter includes measures increasing the exemption limit for the business expense deduction of gifts under the Income Tax Act, to 50 euros (US$54) from 35 euros (US$38). The letter applies to transactions from Jan. 1. [Germany, Ministry of Finance, 07/12/24]
Reference:
View BMF Letter No. 2024/0499981. View Announcement. View Index.
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