Accordingto German press reports, the Federal Cabinet will be asked to vote on changesto the Income Tax Code by Thursday (Nov 10). They are believed to spell out that media funds in the form of loss allocation models will not be able toaccept any new investors from November 11.
Screenreported last month that Germany's media funds had been thrown into disarray byspeculation that the new government under Chancellor Angela Merkel was intendingto revive the previous administration's tax reform plans in mid-November. Sucha move would to put an end to the old-style mediafunds.
It hadbeen assumed within the film industry and fund sector that the new Germangovernment would not proceed with legislation to curb tax relief schemes untilthe New Year, either on January 1 or April 1.