On 20 September 2019, the Upper House of the German parliament issued its opinion on the planned changes to the real estate transfer tax (RETT) rules. The Upper House generally welcomed the changes but also asked the government to consider additional changes in the draft law.
The draft law, published by the government on 8 May 2019 (see GTLN), includes a considerable broadening of the applicability of the RETT rules, following an initiative originally announced on 21 June 2018 (see GTLN) by the finance ministers of the German federal states. The draft law includes the following proposed changes:
The Upper House generally agrees with the planned modifications but has asked the government to consider the following recommendations:
The German government’s response to the recommendations made by the Upper House likely will be made public very soon. The government then will forward the draft law, the statement of the Upper House and the government’s response to the Lower House to move the legislative process forward. It is expected that the Lower House will start the first reading of the draft law in its session on 27 September 2019.
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Andreas Maywald
Client Service Executive | ICE - German Tax Desk
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