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Germany seeks to gain from property boom by closing tax loophole

Posted on 25 October 2012

The German government, which is selling offices, shops and apartments valued at 1.9 billion euros ($2.5 billion) to cut its budget deficit, has another way to tap the nation’s property boom: collecting more transfer tax.
Germany’s parliament tomorrow will vote on closing a loophole that allows companies to avoid the transfer tax on certain types of property transactions. The typical amount of the levy is from 3.5 percent to 5 percent of the value of the land and buildings that change hands………………………………………..Full Article: Source


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