German sawmill industry welcomes federal tax incentive plans

The German Sawmill and Timber Industry Association (DeSH) has welcomed the Federal Government’s new tax incentive plan to kick-start the country’s ailing construction industry. The Federal Building Minister Klara Geywitz has proposed the introduction of a degressive depreciation allowance (deduction for wear and tear) to stimulate the construction industry and increase the willingness to invest. The move comes amid a slide in German house construction, with current building levels way off the target of 400,000 new homes built annually. “We expressly welcome the initiative of the Federal Minister of Construction,” said DeSH Managing ...