Berlin: Germany's upper house of parliament is poised to cast a crucial vote on Friday regarding a multibillion-euro tax relief package aimed at supporting businesses and stimulating investment. Additionally, the vote will address the extension of rent controls in an effort to ease the country's housing market issues.
According to Emirates News Agency, the tax relief plan, which has already received approval from the lower house of parliament, offers businesses enhanced options to account for machinery depreciation. This measure is intended to incentivize companies to boost their investment activities. The package also includes a plan to gradually lower the corporate tax rate from the current 15 percent to 10 percent by 2032.