The taxation of carried interest – where do we stand?
What is carried interest anyway? Carried interest (or carry) is a performance fee to which the fund initiators…
Proposed changes to the Investment Ordinance
On June 27, 2024, the draft bill for the 2nd Company Pension Strengthening Act (2. Betriebsrentenstärkungsgesetz) was published.…
ESA’s Final Report: SFDR RTS 2.0
Introduction The European Union wants to achieve net-zero CO2 emissions by 2050 – among other things with the…
ESMA Consultation Paper: Guidelines on funds’ names using ESG or sustainability-related terms
On 18 November 2022, the European Securities and Markets Authority (ESMA) issued for consultation draft guidelines on funds’…
BMF draft: amendment of the VAT Application Decree (Umsatzsteueranwendungserlass – UstAE) regarding the management of venture capital funds
In July 2021, the Fund Jurisdiction Act (Fondsstandortgesetz) extended the VAT exemption in section 4 No. 8 lit.…
Bitcoin & Co.: Following the ruling of the Fiscal Court of Baden-Württemberg, now also the Fiscal Court of Cologne on the taxation of cryptocurrencies
Overview of the case law of the fiscal courts In our last article, we reported on the ruling…
Cross-border distribution of funds | ESMA guidelines on marketing communications
On 27 September 2021, BaFin announced that it is applying the guidelines on marketing communications published by ESMA…
BaFin Consultation 13/2021: Directive for Sustainable Investment Funds
On 2 August 2021 – just in time for the entry into force of most of the amendments…
Bitcoin & Co. : Draft BMF letter on the income tax treatment of cryptocurrencies and tokens – Part 2
In Part 2 of this article on the draft BMF letter on the income tax treatment of cryptocurrencies…
Bitcoin & Co.: Draft BMF letter on the in-come tax treatment of cryptocurrencies and tokens – Part (1)
Initial Situation For some years now, Steffen has been reporting on the tax treatment of cryptocurrencies in his…
Strengthening Germany as a fund jurisdiction and promoting start-ups through the Fund Jurisdiction Act
On 22 April 2021, the Fund Jurisdiction Act (Fondsstandortgesetz – FoStoG)[1] was passed by the German parliament (Bundestag).…