Take a look at current developments in German legislation on investment funds and learn more about the most important aspects of taxation and regulatory. more…
Current tax law developments for private clients
Succession Planning, Taxation of Corporate Vehicles, Reporting Requirements – Find out more about these and other topics with a view to the tax treatment of private clients in Germany. more…
Sustainable Finance – SFDR now forces fund managers to act
From 10 March 2021, the main parts of the European ESG Disclosure Regulation, SFDR for short, will apply. Among other things, it lays down comprehensive transparency obligations for AIFMs and financial advisors on certain sustainability aspects. more…
EU Commission approves additional economic aid
Following approval by the EU Commission, the “November” and “December aid” can finally be paid out. In our news update you can also read more about the extension of the application deadlines for the additional economic aid, the new SanInsFoG and the temporary relief in tax law. more…
Closed-end funds – BMF makes important statements on the “special fund eligibility” of participations
On 20 January 2021, the German Federal Ministry of Finance (BMF) published the long-awaited supplement to the application letter on the Investment Tax Act of 21 May 2019, thereby clarifying some previously unresolved issues. more…
Competition Law – Higher Merger Control Thresholds and Tighter Rules for the Digital Economy
Almost one year after the publication of a first ministerial draft, the 10th amendment to the German Act against Restraints of Competition has entered into force on 19 January. Core elements are the tightened abuse control over companies with market power in the digital economy as well as the now significantly higher turnover thresholds for merger control. more…
Carried interest as profit distribution under German tax law
The Munich Fiscal Court recently ruled that the carried interest is part of the profit distribution agreed in the partnership agreement. Private investors in particular benefit from this. more…
Private Clients 2021 – Q&A on German law
This country-specific Q&A provides an overview of private client laws and regulations applicable in Germany. more…
Corona state aid – Here’s what happens in 2021
In 2020, the German Government has provided temporary state aid and extraordinary economic aid to stabilise the German economy. For the year 2021 some changes are to be expected. more…
Draft Fund Jurisdiction Act – VAT Exemption for VC Funds gets closer
With the Act to Strengthen Germany as a Fund Jurisdiction, the Federal Government is responding to a demand from fund practice that has been in existence for two decades, in particular to keep venture capitalists in the country. An overview. more…
M&A COVID-19 Wire – State aid, tax and insolvency law
Law and taxes in times of covid-19. Our regular update this time focuses on latest news concerning German state aid programs (bridging aid), updates on German tax and insolvency law and the plans of the German government for further economic aid programs. more…
Alternative Funds – Global Practice Guide 2020
Germany is not a typical funds jurisdiction, such as Luxembourg or the Channel Islands. Nevertheless, German has a sizeable alternative funds sector with German-based funds and managers in place, for both direct investment funds as well as fund of funds. Besides domestic fund structures, many fund managers offer cross-border fund structures (such as a German master fund with non-German feeder funds for certain non-German investors). Some German fund managers also use pure non-German fund structures (mostly based in Luxembourg). more…
Private Banking & Wealth Management 2021 – Recent developments in Germany
M&A COVID-19 Update – the latest developments at a glance
In addition to the “SÄULE-II” rescue program for start-ups without venture capital participation, the extension of the bridging aid was approved. In addition, the obligation to file for insolvency for the reason for insolvency of the debt is suspended until December 31, 2020. more…
Data in the M&A Transaction
Data play an increasingly important role in companies and therefore require special attention in M&A transactions. PE-Magazin-author Christine Funk gives advice on how data should be taken into account in M&A transactions and which pitfalls should be considered. more…