Financial Crisis 2009
Existing depreciations e.g. for certain private housekeeping expenses and for small and medium sized enterprises have been enhanced. A declining depreciation for movable assets has been reintroduced for two years (2009-2010). Businesses are allowed to carry back losses and to claim refund of paid corporation / income tax. As a result they get liquidity improvement. From 2010-01-01 on the VAT tax rate concerning hotel accommodation is reduced from 19% to 7%.
Read more about this topic: Taxation In Germany
Famous quotes containing the words financial and/or crisis:
“America is a nation with no truly national city, no Paris, no Rome, no London, no city which is at once the social center, the political capital, and the financial hub.”
—C. Wright Mills (1916–1962)
“It gives me the greatest pleasure to say, as I do from the bottom of my heart, that never in the history of the country, in any crisis and under any conditions, have our Jewish fellow citizens failed to live up to the highest standards of citizenship and patriotism.”
—William Howard Taft (1857–1930)