German Chancellor Gerhard Schrцder, referring to his country’s reputation for high taxes and low growth, has declared that “The German disease is over.” Reforms last month have cut the tax burdens of incorporated companies from 40% to 20% (effective as of January 2001) and an arsenal of further legislation relating to larger companies is expected, which will be firmly in keeping with this trend.
The measures are likely to change the face of German industry. The most significant implication for factors will probably be the encouragement of fresh enterprise which may result from the new corporate climate.
BCR Publishing
