German Tax Reform 2000

The changes introduced by the Tax Reform Act 2000 are likely to benefit large stock corporations, such as Deutsche Bank AG and Allianz AG, and small and medium-sized enterprises (SMEs) alike. The changes are also likely to encourage companies and investors to reconsider the way in which they hold shares or invest in German companies so as to ensure that their shareholding structures are able to take advantage of the tax exemptions for capital gains introduced by the changes.