German govt wants to launch tax relief worth 4.5 bln euros

The federal and state governments in Germany want to provide tax relief worth 4.5 billion euros ($4.89 billion) to help companies battling the coronavirus crisis, the Frankfurter Allgemeine newspaper reported on Wednesday without citing its sources.

It said companies should be able to offset losses that they foresee against advance payments made last year, whereby an upper limit of 15% is planned. ($1 = 0.9203 euros)