Posted on July 29 2024
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Germany announced plans to introduce tax reductions for new foreign skilled workers. The government is currently working on implementing a tax reduction for qualified newcomers. As part of its highly anticipated “growth initiative,” the government is set to introduce partial tax exemptions for new skilled immigrants in the country. The tax reductions will be applicable for the first years of their employment in Germany. New measures are being taken to deal with the skill shortages across various sectors in the country.
Christian Lindner, the Federal Minister of Finance, said the tax rebates are particularly for new skilled specialists. The proposed tax reductions have yet to be officially approved and implemented. The Minister further added that the tax cuts will vary by 30%, 20%, and 10%, respectively.
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