Temporary reduction of VAT rates as of
1 July 2020
29 June 2020
In its Session on 29 June 2020, the German Bundesrat (upper house of parliament) passed the so-called economic stimulus package, which includes, among other measures, the temporary reduction of VAT rates as of 1 July 2020. Formally, the adopted law now has to be signed by the Federal President of Germany and will then enter into force.
The German tax authorities are also already working on the tax rate reduction and have now published a third draft letter on this subject.
We would be pleased to support you in implementing this very short-term but far-reaching change in the law in your company.