After the amendments published in the Fourth Bureaucracy Reduction Act (Viertes Bürokratieentlastungsgesetz) gazetted on October 29, 2024, and the approval of the Annual Tax Act 2024 (Jahressteuergesetz 2024) on November 22, 2024, there will be several important updates, as of January 1, 2025.

Some of the most essential changes, among others, are listed below.

Retention times

Starting 1 Janua…