Discussions are reportedly underway within the coalition government regarding the potential elimination of the tax deduction benefit for skilled trades services. According to reports, coalition politicians consulted with various economic associations to gauge the outcome and practicality of revoking this tax advantage, with the stated objective of increasing federal tax revenues. Currently, private households are able to deduct 20 percent of their costs for skilled trades services-up to a maximum expenditure of €6,000-from their income tax liability, equating to a deduction of up to €1,200. However, sources within the CDU/CSU parliamentary group stated that they were unaware of any planned discontinuation of the tax benefit. When reached for comment by the media, a spokesperson for the Federal Ministry of Finance declined to confirm any rumors, stating that the ministry had no information to share on the matter.
Economy / Finance
