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In their 2025 coalition agreement, the CDU, CSU and SPD have reached agreement on a wide range of tax and economic measures. Key elements include investment incentives, tax relief and stimuli to digitise public administration and business. The planned changes affect both companies and private taxpayers. In this article, we summarise the most important points.

After a tense election, the new coalition seems to be certain – the next German government will probably be formed by the CDU/CSU and the SPD. But what does this mean in terms of tax for family businesses, family offices and (Ultra)-High-net-worth individuals? Based on the parties’ manifestos, we’ve analysed what tax changes private clients can expect in the new legislative period and why it’s crucial to consider business and wealth succession now.

The break-up of the “traffic light” coalition and the Bundestag elections that were brought forward to 23 February 2025 are having a considerable impact on tax reforms and plans for legislation. The lack of a majority makes concluding key legislative plans more difficult.