German Ministry of Finance Announces Fourth Draft Law Providing Additional Tax Aid Measures for COVID-19

The German Ministry of Finance has announced a fourth draft law for the implementation of tax aid measures to cope with the COVID-19 crisis (the so-called "Fourth Corona Tax Aid Act"). Some of the key measures include:

• The extension of the accelerated depreciation for movable business assets provided for 2020 and 2021, so that it is also available for assets purchased or manufactured in 2022, which includes the application of a declining-balance method with depreciation rates equal to 2.5 t…