- German government coalition likely to raise VAT on food in restaurants back to 19% from 7%
- Decision to be made later in the evening
- Negotiations ongoing over the coalition’s draft budget
- Budget to be passed in December and take effect from 2024
- Coalition government will not extend the reduction in VAT
- Planned cuts to parental allowance for higher earners will be scaled back
- Income limit for parental leave compensation to be lowered to 200,000 euros from April 1, 2024, and to 175,000 euros from April 1, 2025.
Source: marketscreener.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
