After being unexpectedly removed from the agenda of the Cabinet meeting on August 16, 2023, the government coalition published a revised draft of the “Growth Opportunities, Investment, and Innovation Strengthening Act,” abbreviated as the Wachstumschancengesetz, on August 30, 2023.
The government draft (RegE) primarily consists of changes in income tax law, including the suspension of minimum profit taxation (from 2024 to 2027) and the (re)introduction of a declining depreciation option for residential buildings starting from October 1, 2023. Additionally, Article 39 in the RegE includes a clarifying amendment to the Real Estate Transfer Tax Act due to the MoPeG.
Compared to the preliminary draft (RefE), the government draft (RegE) deviates only slightly in terms of digitalization issues. The IDSt has already provided extensive comments on the RefE. Our statement primarily focuses on the planned changes to the Value Added Tax Act in the context of introducing electronic invoicing for B2B transactions, as well as other topics with a direct digitalization connection.
The complete IDSt statement on the preliminary draft (RefE) is available for download below.