Uncertainty surrounding the British referendum Developments in the international financial markets in the second quarter were dominated by uncertainty surrounding the British referen- dum on whether to remain in or leave the EU. Another important factor was monetary policy in the industrialised nations which maintained an expansionary stance – notRead More →
Capital gains Capital gains arising on the sale of shares held by a corporation are also exempt from corporate income tax. Similar to the treat- ment of dividends, 5% of the capital gain is treated as a non-de- ductible business expense. Costs incurred in connection with the sale reduce theRead More →
Starting with risk management A clear hierarchy of valued services seems to be emerging, starting with risk management and working down through a range of enhanced trading services. In spite of all the advances made in trading technology, clients are still willing to pay more to complete trades rapidly. ClientsRead More →
Computed risk and capital figures are very important On the whole, the German authorities concluded that, while the computed risk and capital figures are very important inputs to its capital assessment process, the process of challenging these figures, as well as the ability to incorporate supervisor’s deep knowledge of aRead More →
Limited liability companies Limited liability companies and stock corporations German law provides two major types of corporations: the limited liability company (Gesellschaft mit beschränkter Haftung – GmbH) and the stock corporation (Aktiengesellschaft – AG). Both are separate legal entities with shareholders’ liability restricted to the value of the corporation’s assetsRead More →
23 June 2016, the British public voted Out On 23 June 2016, the British public voted for the United Kingdom to leave the EU, an event which many market participants had previously identifed as a signifcant downside risk for the global economy. According to first surveys among consumers and businesses,Read More →
Constructive dividends (verdeckte Gewinnausschüttungen) Constructive dividends (verdeckte Gewinnausschüttungen) oc- cur when a corporation confers a benefit on its shareholders or on persons related to shareholders which it would not normally confer on unrelated third parties. Constructive dividends result in increased taxable income either through the disallowance of a tax deductionRead More →
Minimum paid holiday entitlement is 20 working days The legal minimum paid holiday entitlement is 20 working days each year for employees on a five-day working week. Trade union and other agreements usually improve on this considerably, and most actual holiday entitlements fall within the range of 25 to 30Read More →
Results from the consultation on recent trends Volumes of expenditure In Germany, agricultural sciences were in crisis until the end of the 1990s. In the last years the interest in agricultural research has increased again due to the global challenges, all of them being connected with agricultural issues. Volumes ofRead More →
global growth modest 2016 The global economy probably expanded only modestly again in the second quarter of this 2016 year, as in the last three months of 2015 and first quarter of 2016. The pace of economic growth remained moderate, particularly in the advanced economies, with the dynamics shift- ingRead More →
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