Trade Tax
Entrepreneurs engaging in business operations are subject to trade tax (Gewerbesteuer) as well as income tax/corporation tax. In contrast to the latter, trade tax is charged by the local authorities or municipalities, who are entitled to the entire amount. The rate levied is fixed by each local authority separately within the range of rates prescribed by the central government. As from 1 January 2008, the rate averages 14% of profits subject to trade tax.
Read more about this topic: Taxation In Germany
Famous quotes containing the words trade and/or tax:
“We are the trade union for pensioners and children, the trade union for the disabled and the sick ... the trade union for the nation as a whole.”
—Edward Heath (b. 1916)
“Rumble thy bellyful! Spit, fire! Spout, rain!
Nor rain, wind, thunder, fire are my daughters.
I tax you not, you elements, with unkindness;
I never gave you kingdom, called you children.”
—William Shakespeare (1564–1616)