M&A COVID-19 Wire - Update XX

Please find another M&A update due to the COVID-19 pandemic.

1. GERMAN TAX LAW

a) Tax Relief Measures again extended

Germany took extensive measures to combat the serious economic effects of the COVID-19 pandemic. By circular of 18 March 2021 (in German), the German Federal Ministry of Finance again extended the application of certain tax relief measures:

• Deferral of tax payments until 30 September 2021 and, in general, further deferral beyond this date until 31 December 2021 at the latest if taxpayer agrees on instalment payments;
• Waiver of enforcement measures until 30 September 2021;
• Reduction of advance tax payments in 2021.

These tax relief measures are only granted if the taxpayer is directly and not insignificantly affected by the COVID-19 pandemic and files a respective application until 30 June 2021 for a deferral of tax payments and/or a waiver of enforcement measures respectively until 31 December 2021 for a reduction of advance