Taxes: Klingbeil Wants to Abolish Tax Classes III and V

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Federal Finance Minister Lars Klingbeil plans to abolish tax classes III and V. Instead, taxation will be automatically calculated according to the respective income distribution in the future.

Handelsblatt

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The Minister of Finance proposes that the tax classes popular with couples be removed, and taxation should be automatically applied in the future, depending on the distribution of income.

Fenix Magazin

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German Finance Minister Lars Klingbeil plans to abolish tax classes III and V. Instead, taxation will be calculated automatically based on the appropriate distribution of income, German media write. The planned change is aimed at fundamentally changing the current payroll tax deduction for married couples. The aim is to transfer the two tax classes to an “automated factor process”. Time is [...]