Germany to backtrack on company car tax hike-source

Newswire

BERLIN, Jan 21 (Reuters) - Germany will not increase tax on company cars to 1.5 percent from 1.0 percent as planned, a source in the country's ruling coalition said on Tuesday.

"The rule would not get through the Bundesrat," the source said, referring to Germany's opposition-controlled upper house of parliament, which represents the country's 16 states.

Handelsblatt newspaper reported on Tuesday the tax rise would be limited to 1.2 or 1.3 percent.

The ...

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