BERLIN: German real estate will in future by subject to German VAT at a rate of 19%. According to a letter published by the following services will now be classed as “services relating to real estate” under section 3(a) (3) No. 1 of the German Sales Tax Law drawing up a contract for the sale or purchase of a property (asset deal) negotiation of the contractual terms and conditions as well as related consulting services (e.g. financing advice, preparation of due diligence) advice on a tax clause in a land transfer agreement other advisory services in connection with a property (e.g. sale-and-leaseback contract, financing advice, etc) conception and negotiation of rental and lease agreements for a certain piece of land review of existing rental or lease agreements with regard to the change of ownership in the context of a transfer of land. The determination of ‘place of service’ as the location of the land plot is to be applied even if the underlying transaction leading to a legal change in relation to the land plot does not ultimately take place.
Germany Raises 2020 Growth Forecast Slightly to 1.1%
BERLIN: THE German government modestly raised its economic growth forecast for the country this year to 1.1%. Germany's economy, Europe's...
