Economy

Corona crisis: This is how the green companies want to relieve the burden

The green politician and financial expert Danyal Bayaz.

The green politician and financial expert Danyal Bayaz.

Jörg Carstensen / dpa

The corona pandemic triggered the greatest economic crisis in the post-war period.

The federal and state governments have provided triple-digit billions in aid and loans to help the self-employed and businesses.

As an alternative, the Greens are now proposing a temporary reform of tax law to provide companies with additional liquidity and to secure jobs.

The Greens want to grant tax advantages to companies in the corona crisis in order to protect them against the economic consequences of the pandemic. NewsABC.net has received a corresponding request from the party at its parliamentary meeting on Tuesday.

It is primarily about so-called tax loss offsetting – that is, the offsetting of losses not offset by income when measuring the applicable income tax.

The federal government had recently decided that small and medium-sized companies and self-employed persons may offset their tax prepayments from the previous year against their current losses in the corona crisis. Because this reduces the tax burden, those affected can ensure more liquidity.

The Greens don’t go far enough. In their application, they call on the federal government to extend the loss calculation “to mitigate the economic consequences of the Covid 19 epidemic” for a limited period of time. To this end, companies and the self-employed should be allowed to make “qualified estimates” for their expected losses, which should then be chargeable over several years up to 2016 at the latest and up to a sum of one million euros.

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Put simply, this means that companies and the self-employed are likely to estimate their losses from the corona crisis this year and then count them against the taxes of the past five years – and thus reduce their own tax burden.

“This gives healthy companies additional liquidity before the crisis in order to secure jobs and start up their business again,” said Danyal Bayaz, head of the Economic Advisory Board of the Green Bundestag faction, to NewsABC.net. “Your recovery can be accelerated without having to take out new loans or loans.”

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