1. Is there a specific legislation issued for the taxation of crypto-assets or do general national tax law principles apply because the tax legislator has not regulated this so far? Currently, there...

Berlin – The German government is aiming to make German industry carbon-neutral by 2045. In line with this commitment, on Tuesday, 12 March 2024 the Federal Ministry for Economic Affairs and Climate Action launched the world’s first bidding process for a programme to fund climate action contracts. Based on carbon contracts for difference, these climate action contracts promote investment in climate-friendly production facilities that would not otherwise be economically viable at this point in time. The programme is primarily aimed at operators of emis­sion-in­tens­ive plants, such as in the steel, paper, chemicals, metal and glass industries. Climate action contracts provide an incentive to develop and build the required technologies and infrastructure in Germany now. This will not only avoid around 350 million tonnes of CO2 over the term of the funding programme up to 2045, but is also designed to kick-start the urgently needed market transformation while simultaneously setting new international standards for efficient, low-bureaucracy support. The climate action contracts are intended as both a key tool for climate change mitigation and to strengthen Germany as a country with a long history of industry and innovation. EUR 4 billion has been made available over a 15-year term for the initial bidding process that has now been opened. Companies that were successful in the preparatory phase in the summer of 2023 can apply to take part in the initial bidding process within the next four months. As Germany’s economics minister announced at today’s press conference, the second round of bidding will be conducted later in 2024, with EUR 19 billion available for this purpose. Two further rounds of bidding are scheduled for 2025.A CMS team headed by lead partner Dr Jürgen Frodermann advised the Federal Ministry for Economic Affairs and Climate Action on all aspects of subsidy, state aid, contract and energy law with regard to the support programme. The advice related in particular to drafting a funding policy and associated climate action contracts to be concluded between the state and companies eligible for funding. The work also included support around the notification procedure to the European Commission. In view of the pioneering nature of the funding programme, the CMS team had to deal with legal issues arising in connection with the programme in both a European and a national context, while also ensuring close alignment with the defined technical and economic objectives. The support was provided through an in­ter­dis­cip­lin­ary consortium headed by lead project manager Jülich, together with VDI/VDE Innovation + Technik and Deloitte. CMS Germany Dr Jürgen Frodermann, Lead Partner Dr Nico Hannemann, Senior Associate Dr Nora Zabel, Counsel Björn Hopen, Associate Nina Becker, Associate, all Contract Law Shaghayegh Smousavi, Partner, Energy / Regulation Dr Jakob Steiff, Partner Dr André Lippert, Partner Dr Sven Brockhoff, Counsel Dr Annchristin Streuber, As­so­ci­ate Con­stan­ze Schweidtmann, Associate, all Public Law / Subsidy Law Dr Michael Bauer, Partner Louisa Thomasberger, Associate, both State Aid Dr Martin Friedberg, Partner, TaxPress Con­tact presse@cms-hs. com

Welcome to the first 2024 podcast in the CMS To Go series "beigeSTEUERt", in which we look at the most important changes in tax legislation. Dr Martin Friedberg, Philine Lindner and Dr Hendrik Arendt present the most important new and upcoming rules around corporate tax law, including the Minimum Taxation Directive, the Financing for the Future Act (ZuFinG), the Secondary Credit Market Act (KrZwMG) and the Budget Financing Act (HFG). There is a special focus on the Growth Opportunities Act (WCG), which is aimed at making the German economy more in­vest­ment-friendly and competitive.

On 1 January 2024, the Act to Modernise Partnership Law (MoPeG) entered into force. What is the tax law impact of the new, apparently innocuous amendments to civil law? In our latest "talkingTAX" podcast, Dr Martin Friedberg and Luise Uhl-Ludäscher deal with these questions and many other interesting issues in connection with the MoPeG. Have a listen.

Cologne – KANSAI HELIOS has acquired the entire industrial coatings business of GREBE Holding, based in Weilburg in Hessen, Germany, which operates under the name WEILBURGER Coatings. WEILBURGER Coatings is a well-known manufacturer of industrial coatings and comprises of WEILBURGER Coatings GmbH in Weilburg and WEILBURGER Asia Limited in Hong Kong. The share purchase agreement was signed on February 9, 2024. With the acquisition, KANSAI HELIOS intends to significantly expand its strategic position as a system supplier and manufacturer of industrial coatings and extend its geographical presence internationally. The company will also gain additional expertise, distribution channels, production and storage capacities. The parties involved have agreed not to disclose further details of the transaction. An international CMS team headed by Lead Partner Klaus Jäger and Christoph Schröer provided KANSAI HELIOS with comprehensive legal advice on the acquisition. The complexity of the transaction is characterized in particular by the size of the acquired Weilburger Coatings Group, which, in addition to the German companies, includes subsidiaries in Brazil, China, France, Hong Kong, India, Italy, Turkey and the USA. In addition to the actual purchase agreements in Germany and Hong Kong, CMS drafted and negotiated numerous other contracts. In addition to CMS teams in Brazil, China, Hong Kong, Italy, Turkey, France, Serbia, Austria and the United Kingdom, the law firms MILLER & MARTIN PLLC from the USA and Vaish Associates Advocates from India also provided support. KANSAI HELIOS regularly relies on the expertise of CMS, most recently in connection with the acquisition of all shares in CWS Lackfabrik GmbH (CWS), which specializes in powder coatings and synthetic resins, including the group companies in Germany, the USA, Denmark and Poland. KANSAI HELIOS, headquartered in Vienna, is part of the Japanese KANSAI PAINT Group. The company has a history of more than 170 years and is one of the major global players in the paints and coatings market. KANSAI HELIOS designs, produces and distributes industrial coating solutions, bleaching and cleaning chemicals, materials for sticking and sealing, high-quality resins, architectural paints and refinishing coatings throughout Europe and beyond. WEILBURGER Coatings was founded in 1900 at its current headquarters in Weilburg and has group companies in Germany, Italy, France, Turkey, the USA, Brazil, India and China. With around 600 employees at seven production sites and several sales offices, the company is active worldwide and generates a turnover of around 150 million euros. CMS Germany Klaus Jäger, Lead Partner Dr Kai Wallisch, Part­ner Chris­toph Schröer, Senior Associate Dr Katharina Kapp, Associate Dr Henrik Meurer, As­so­ci­ate Domin­ic Zimmer, As­so­ci­ate Kath­rin Dengel, Associate, all Corporate/M&A Dr Björn Herbers, Partner Moritz Pottek, Counsel Dr Denis Schlimpert, Counsel Kirsten Baubkus-Gerard, Senior Associate Dr Robert Bodewig, Senior Associate David Rappenglück, Associate, all Antitrust, Competition & Trade Dr Dirk Smielick, Principal Counsel Claudia Böhmer, Counsel, both IP Dr Angela Emmert, Partner Dr Andreas Hofelich, Partner Dr Mario Brungs, Counsel Lennard Martin Lürwer, Counsel Marcel Heinen, Senior Associate, all Labor, Employment & Pensions Michael Kamps, Partner Thorsten Hemme, Principal Counsel Dr Arne Schmieke, Senior Associate, all TMC Dr Martin Friedberg, Partner, Tax law Dr André Lippert, Partner Maike Füchtmann, Senior Associate, both Real Estate & Public Dorothée Janzen, Partner Dr Philipp Rohdenburg, Counsel, both Com­mer­cial Birgit Wagner, Legal Manager Conrad Gräwe, Legal Co­ordin­at­or Steven Washington, Legal Coordinator Anke Clippingdale, Senior Legal Specialist Edris Trabzadah, Senior Legal Specialist Faraz Ahmad, Legal Specialist Sofia Schreiner, Legal Spe­cial­ist Al­ex­an­der Stadahl, Legal Specialist, all Smart Operations CMS Beijing Falk Licht­en­stein Roxy Meng CMS Milan Daniela Murer Alessandra Cuni CMS Rome Fabrizio Spagnolo CMS Istanbul Döne Yalçın Merve Akkuş CMS Paris Thomas Hains Marion Berberian CMS Belgrade Maja Stepanović CMS Vienna Dr Dieter Zandler CMS London Russell Hoare Melanie Lane Focaccia Amaral L S Advogados, Brazil in association with CMS Renata Homem de Melo Fontes Carla Anastácio Lau, Horton & Wise LLP, Hong Kong in association with CMS Shirley Lau Albert Jok MILLER & MARTIN PLLC, USA Joe DeLisle Vaish Associates Advocates, India Shrinivas SankaranPress Con­tact presse@cms-hs. com

Frankfurt/Main – Global real assets investment management firm CBRE Investment Management has sold around 16,200 square metres of rental space in Dietzenbach near Frankfurt to maincubes, a Frankfurt-based company that specialises in developing and operating data centres. The company plans to convert the acquired property accordingly. The property occupies a site of some 28,800 square metres with excellent transport links, making it an especially appealing proposition for use as a data centre. According to maincubes, demand for digital infrastructure capacity in the Rhine-Main region continues un­abated.  De­tails of the transaction were not disclosed.A CMS team headed by lead partner Philipp Schönnenbeck advised CBRE Investment Management on all legal aspects in this context for the first time. CMS has extensive expertise around data centre sites, which was highly relevant in this case. CMS Germany Philipp Schönnenbeck, Lead Partner Laura Johnsson, Senior Associate, both Real Estate Dr Martin Friedberg, Partner Dr Hendrik Arendt, Senior Associate, both TaxPress Con­tact presse@cms-hs. com

Leipzig – The current partners of the Cowen Europe Group are taking over the Continental European investment banking business of TD Cowen, a division of TD Securities. With 12 partners and 50 employees...

Berlin – The Penta Hotel in Berlin's Koepenick district has changed hands. The hotel chain Leonardo has acquired the property from a closed real estate fund as part of an asset deal. Leonardo will also...

Employee stock options have long been a hot topic for companies and employees alike. They allow employees to feel responsible for the success of the business and hold a stake in it, ideally in a tax-efficient manner. In our new “bei­geSTEUERt” podcast, Dr Martin Friedberg, Jörg Schrade and Dr Martin Mohr, all three of whom are partners in the Tax practice at CMS Germany, deal with the objectives and challenges of employee stock option programmes and provide practical tips for business owners.

Cologne – The shareholders of SHG Pur-Profile GmbH, a leading manufacturer of warning and protective profiles based in Eitorf, have sold a majority shareholding to Waldegg Equity, a private equity firm...

Berlin – Sunlight Group Energy Storage Systems, a technology company headquartered in Athens, specializing in innovative industrial mobility batteries for the intralogistics sector and Energy Storage...