Germany MOF Seeks Comments on Draft Bill to Implement Minimum Tax Act

The German Ministry of Finance Sept. 29 opened a consultation on a draft bill to implement the Minimum Tax Act. The bill includes measures to: 1) specify that minimum tax reports will be transmitted to other tax jurisdictions through automatic exchange if the specified conditions are met; 2) impose specific requirements that groups of undertakings using simplified reporting must adhere to, including having established a procedure that enables a reliable allocation of accounting data to the individual tax jurisdictions and ensures aggregation in the consolidated financial statements; 3) specify that simplified reporting may be carried out for the transitional period ...