Coalition approves tax law rejected by opposition.
Sources Coalition approves tax law rejected by opposition. The planned reform of the German tax law will lead to the lowest tax rates in the past 50 years, according to Finance Minister T. Waigel. During an official introduction of the concept before journalists in Bonn, Waigel explained that the model would cause an extensive tax relief for almost all tax payers and additionally simplify the tax system. This would create the conditions for more investments, economic growth and employment. Referring to the concerns of CDU experts for social policy about taxing retirement payments, Waigel agreed that this is likely one of the most difficult parts of the reform.