German Tax Updates in January 2024

1. Update in Mandatory Electronic Invoicing.

2. Gastronomy from 1st January, 2024: VAT Rate jumps back to 19%.

3. Private use benefit from company cars: Changing the calculation method can save taxes.

4. Due to increase in the annual income threshold as of 1st January, 2024: Reassess public health insurance obligation.

5. Low-value assets.

6. Special depreciation according to Section 7g Individual Tax Law.