Highlights: Germany initiated tax cut for newly arrived Foreign Skilled Workers
- Germany plans to offer tax relief for newly arrived foreign-skilled national workers.
- The newly foreign-qualified workers are exempt from paying taxes for their first three years of employment in the country.
- Germany initiated the tax cuts to deal with shortages in various sectors nationwide.
- As per the current data, there is a shortage of about 573,000 skilled workers in Germany.
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Reason to initiate tax cuts for new foreign skilled workers
Germany took the initiative to introduce tax cuts to attract foreign skilled workers to the country. Germany is still now trying to finalize a massive tax reduction. As a part of a growth initiative, the government plans to spare the newly arrived foreign-qualified workers from the tax for their first three years of employment in the country.
Germany is focusing on the various sectors facing shortages. It plans to ease immigration for foreign workers by creating tax-exempt benefits only for foreign nationals. The tax cut will vary between 30, 20, and 10 percent.
The government has yet to disclose who is eligible for more significant tax relief, who is eligible for minor tax relief, and what the criteria will be as the measure is still not approved.
The recent data of the German Economic Institute shows a shortage of about 573,000 skilled workers in Germany.
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Pathway to migrate to Germany
Migrants can now apply for the Germany Opportunity Card, which is an efficient pathway for skilled immigrants to live and work in Germany. The card is issued to non-EU nationals looking for an employment offer in Germany. Experienced professionals from non-EU countries can access the German job market and explore various job opportunities across industries.
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