German legislators have adopted a number of Acts of Parliament
in relation to Brexit both on the federal level and on the level of
the 16 German states. Some of these regulate the "deal"
scenario where the Withdrawal Agreement is ratified by the UK, and
some of these regulate the "no-deal" scenario.
The so-called Brexit Steuerbegleitgesetz (Brexit Tax
Accompanying Act) was adopted on 25 March 2019 and provides for a
number of tax contingency rules in the areas of corporate tax,
income tax, real estate transfer tax, inheritance tax and
transformation tax, as well as contingency rules for the financial
services sector, including banks, insurance companies, pension
funds, payment services providers and other financial services
providers, as well as special rules for German Covered Bond Banks.
The act in particular contains a statutory authorisation for the
German regulator BaFin to adopt further regulations, which BaFin
will, however, only exercise if and once the UK
