|January 2, 2014|
Previously published on December 2013
After it had not been passed in the mediation committee in the past legislative period, the act on the adaption of the German Investment Tax Act (Investmentsteuergesetz) and other acts to the AIFM Implementation Act (“AIFM-StAnpG”, AIFM Tax Act) has now been adopted at the second attempt. This legislative initiative, which emanated unanimously from the Bundesrat on November 8, 2013, was accepted without any amendments in a shortened procedure by the Deutsche Bundestag in its third session on November 28, 2013 (BR.-Drucks.: 784/13). The next day already, the German Länder approved the draft in their plenary session (BR.-Drucks.: 784/13 (B)). The AIFM Tax Act provides for an adaption of the terminology and the scope of application of the German Investment Tax Act (“InvStG”) to the new German Capital Investment Act (“KAGB”), which replaced the previous German Investment Act (“InvG”) with effect from July 22, 2013. The new act is substantially similar to the draft that had not been adopted in the mediation committee.