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Klingbeil's tax revolution: 46 billion euros for Germany's economy!
Federal Finance Minister Lars Klingbeil is planning tax relief for companies by 2029 to promote economic growth.
Klingbeil's tax revolution: 46 billion euros for Germany's economy!
Federal Finance Minister Lars Klingbeil (SPD) has presented plans that aim to provide significant tax relief for the German economy. These measures are intended to help companies increase their investments and stimulate the economy. A new law, which includes an immediate tax investment program, is to be passed in the cabinet on July 4, 2025 and will have a total impact of almost 46 billion euros on the federal budget by 2029. The measures outlined by Klingbeil are designed to provide short-term stimulus for the growth of the German economy, which is currently facing major challenges, such as: Machine market reported.
A central component of the program is improved depreciation options, especially for companies that invest in electric cars. It should be possible to deduct movable goods from taxes at a maximum of 30 percent in the years 2025 to 2027. At the same time, it is planned to reduce corporate tax from 15 percent from 2028 to 10 percent by 2032. This could represent a massive relief for many companies, as the tax rate for undistributed profits is also to be reduced.
Incentives for electric cars and research
Another notable measure is tax support for research, which is to be expanded to support investment in research and development. When purchasing a new electric car for business use, companies can deduct a whopping 75 percent of the costs in the year of purchase. In subsequent years, additional depreciation of 10 percent, 5 percent, 3 percent and 2 percent is provided. This special regulation for electric cars applies to purchases made between July 2025 and December 2027, which is intended to encourage companies to switch to environmentally friendly mobility, such as Mirror supplemented.
The measures that Lars Klingbeil proposes should not only serve economic stability in Germany, but also support environmental policy goals. With these initiatives, the federal government hopes to not only give companies financial flexibility, but also to promote sustainable investments and thus pave the way to a greener future.