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Germany Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
80,594,017 (July 2017 est.)GDP (PPP)
$4.15 trillion (2017 est.)Largest economy in Europe
GDP growth rate
2.1% (2017 est.)The highest level in 5 years
GDP (PPP) per capita
$50,200 (2017 est.)Very high, even if regional differences between the rich South/West and the poorer East still exist
Local currency
Euro (EUR)Second most important currency in the world after the USD
Financial stability (Public debt)
65.7% of GDP (2017 est.)Medium to low, it should strengthen even further since the government is running a budget surplus
Inflation
1.6% (2017 est.)Low but on an upward trend (0.4% in 2016)
Language
GermanEnglish is spoken especially in urban areas
Corruption perception index (Source: Transparency International)
12/180Low level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
The sale of goods and the provision of services is subject to VAT under the common system of the European Union at 19% (7% on certain items, such as food and books)
Corporate Tax
Germany levies both Corporation tax and Trade tax (on similar tax bases) Corporation tax: 15.825% Trade tax: 12.6% to 19.25% depending on the municipality where the business is located The total rate is between 30% and 33% in the main cities
Duties
Duties apply to goods imported in the EU; most EU candidate countries or countries with an agreement with the EU are exempt Rates of 0% to 10% apply to manufactured products from other countries (higher rates may apply if the country is deemed to practice dumping)
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