Make Kitco Your Homepage

Germany planning 42.5 billion euros in tax relief to 2024: Handelsblatt

Kitco News

BERLIN (Reuters) - Germany is planning tax cuts totalling 42.5 billion euros over the period to 2024, with 7 billion euros of cuts planned in 2021 alone, Handelsblatt newspaper reported on Thursday, adding that the cabinet would agree the measures at the end of July.

According to the newspaper, these latest measures to stimulate the recovery of Europe’s largest economy will include an increase in individuals’ tax-free income allowance as well as increases to the income thresholds at which higher income tax rates kick in.

Families will also receive extra money for each child they have, the paper reported.

Reporting by Thomas Escritt; editing by Thomas Seythal

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.