Quick Summary. Located in Central Europe, Germany has the largest economy of all European nations. Germany is a federal parliamentary republic with legislative power exercised by the Bundestag and Bundesrat. It government is founded in its 1949 constitution, the Grundgesetz. Germany is comprised of 16 provinces with a capital at Berlin.
Effective July 1, 2020, Germany has implemented information exchange provisions pursuant to the EU-Directive (DAC 6 – (EU) 2018/822) for mandatory automatic exchange of information related to cross-border arrangements. Germany has introduced legislation to adopt in German law EU Anti-Tax Avoidance Directive (EU-ATAD – (EU) 2016/1164 and ATAD II – (EU) 2017/952), a measure that introduced controlled foreign corporation (CFC) rules and hybrid mismatch rules.
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