Thursday, December 26, 2024

Germany Intends to Slash Taxes by Up to 30% for Foreign Skilled Professionals

Must Read

Germany is thinking about cutting taxes for skilled workers from other countries who come to work there.

The tax cuts will be 30%, 20%, or 10%.

This is to encourage skilled workers to move to Germany as part of a plan to boost the economy. The German government hopes that by reducing taxes for the first three years, more skilled workers will come.

German authorities say they need these skilled workers because there are not enough people to fill jobs.

What the Minister Said

Christian Lindner, the Federal Minister of Finance, said these tax cuts will only be for the first three years of employment once the plan is approved.

He explained that the tax cuts will be 30%, 20%, or 10%, but did not say who will get the biggest cuts or how they will decide this.

According to Lindner, “We are giving tax cuts to foreign professionals for their first three years in Germany. The cuts will be 30%, 20%, and 10% for those who come here as skilled specialists.”

“The measure needs to be approved before it takes effect. The authorities plan to review it after five years,” Lindner added.

Criticisms and Opposition

Many foreign workers are happy about the proposed tax cuts, but some politicians and union members are not.

They say this policy is unfair to German workers.

Beate Müller-Gemmeke, a member of the Green Party, said that Germany believes in treating everyone equally, and this policy goes against that.

She said this policy is unfair to German workers and those who have already moved to Germany for work.

“In my opinion, it is unfair to say that people from other countries don’t have to pay as much tax on part of their salary,” said Müller-Gemmeke.

Federal Minister of Labour Hubertus Heil also criticized the plan. He suggested that instead of cutting taxes, Germany should make it easier to get visas and reduce paperwork.

Earlier reports showed that Germany currently needs about 573,000 skilled workers, according to the German Economic Institute.

If the tax cuts are approved, Germany could become a top choice for skilled workers from other countries.

Latest News

Tinubu expresses condolences to Jigawa government over the death of his mother

President Bola Ahmed Tinubu has expressed his condolences to Governor Umar Namadi of Jigawa State on the demise of...

More Articles Like This