Germany

Country Information

Continent Europe
GDP (2012 est.) $3.167 trillion (2012 est.)
Currency & Exchange Rate euros (EUR) per US dollar 0.78
Dialling Code
+49

Exploration & Production Companies

RWE Dea, Wintershall.

International Tax Regime

Residential taxation: foreigners taxed on local income; residents taxed on local and overseas income.

Witholding Tax

Crude oil - production(bbl/day) 169,500
Crude oil - exports(bbl/day) 14,260
Crude oil - imports(bbl/day) 1,876,000
Crude oil - proved reserves(bbl) 254,200,000
Refined petroleum products - production(bbl/day) 2,198,000
Refined petroleum products - consumption(bbl/day) 2,400,000
Natural gas - production(cu m) 12,300,000,000
Natural gas - proved reserves(cu m) 125,000,000,000

Social Security

Residents and non-residents working in Germany pay social security contributions on their gross salary in Germany or in the country of their employer after an E101 has been issued. Contributions have to be made to pension insurance (19.9%) and unemployment insurance (3.0%) on salary up to EUR 5’600 per month (employer and employee pay half each), nursing care insurance on salary up to EUR 3’825 (1.95% for employer and employee and an extra 0.25% paid by a childless employee). Health insurance is obligatory for employees with a salary of less than EUR 45'900 per year. The rate is 15.5%, with the employer paying 7.3% and the employee 8.2%. Employees whose income exceeds EUR 45’900 per year are entitled to elect whether to be insured by public or private health insurance.

Income Tax Rates

Income tax is imposed at progressive rates using complex tables. The lowest rate in 2012 is 14%. It goes up to 42% for income over EUR 52’882. Since 2007 a special rate for the “rich” (“Reichensteuer”) of 45% for income over EUR 250’730 for single persons (double for jointly assessed spouses) is applied.

Individuals Are Regarded as Tax Residents If

Domicile is there; habitual abode is there; stay for untinteruped 6 months.

Climate

Temperate and marine; cool, cloudy, wet winters and summers; occasional warm mountain (foehn) wind.

Location

Central Europe, bordering the Baltic Sea and the North Sea, between the Netherlands and Poland, south of Denmark.

CCL Country Manager

Contact Details

Name:

Direct:

Email:

LinkedIn:

Jordan Blake

+44 (0) 208 333 4154

jordan.blake@cclglobal.com

 

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