Federal Council approves Brexit tax accompanying law.

The Federal Council approved the Brexit Tax Accompanying Act on March 15, 2019. This clears the way for it to come into effect at the end of March. From a tax perspective, this law is intended to provide legal certainty for Ltd companies in Germany. In particular, a potential Brexit will not trigger any hidden reserves or real estate transfer taxes. The business assets of the Limited will also remain entangled in corporate income tax.

On March 15, 2019, the Bundesrat approved the Brexit Tax Accompanying Act. This clears the way for it to come into effect at the end of March. This law is intended to bring legal certainty for Ltd companies in Germany. In particular, a potential Brexit will not trigger any hidden reserves or real estate transfer taxes. The business assets of the Limited are also intended to remain entangled in corporate income tax.