TAX NEWS - January 2010
Germany Tax: Government decides not to issue blacklist of non-cooperative jurisdictions
Since the new reporting requirements only apply to transactions with non-cooperative jurisdictions, the government was expected to issue a blacklist of specific countries. However, on 5 January 2010, the Federal Ministry of Finance published official guidance, stating that, as from 1 January 2010, no foreign jurisdiction qualifies as a non-cooperative jurisdiction and that the Ministry will publish a new decree in the future if a non-cooperative jurisdiction comes to their attention. Thus, taxpayers currently do not have to apply the new reporting obligations, but should remain alert for future changes.