Germany to introduce tax cuts for 3 years for New Skilled Immigrants

Highlights: Germany to introduce tax rebates for New Skilled Immigrants

• Germany is working on implementing a tax reduction in a bid to attract more skilled workers.
• As a part of its “growth initiative,” the government plans on partially exempting taxes for eligible foreign workers.
• The expected tax relief will apply to the first three years of their employment in Germany.
• The tax rebates for qualifying professionals will be set at 30%, 20%, and 10%, respectively.?

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Germany announces plans to reduce taxes for New Foreign Skilled workers

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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