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Germany’s Bundesrat has given the green light to the Act to Strengthen Growth Opportunities, Investment and Innovation as well as Tax Simplification and Fairness (“Growth Opportunities Act”) passed by the German Federal Parliament on February 23. The act bundles a number of balance sheet tax measures in to order to improve company liquidity, provide tax incentives for innovation, and steps to reduce red tape for SMEs.

The Federal Republic of Germany is marking three-quarters of a century of the Basic Law, the country’s constitution.