German Draft Budget for 2015 Announced

On 2 July 2014, the German Cabinet approved the draft federal budget for 2015. The budget includes proposed changes for Germany's tax system in the following areas:

• Reforming the country's VAT system toward a simpler, more robust and efficient VAT system tailored to the common market
• Implementing a financial transaction tax at the EU level
• Reforming the taxation of investment funds
• Amending domestic laws for energy and electricity tax to take into account the developments regarding energy ta…