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To: smolejv@gmx.net who wrote (26190)	12/16/2002 11:12:13 PM
From: elmatador	Respond to of 74559

return of part of the €300bn held by Germans offshore. So wants to do a Saudi Arabia and take more money out of the US. Schröder plans cut in savings tax and amnesty By Haig Simonian in Berlin Published: December 16 2002 21:55 \| Last Updated: December 16 2002 22:21 news.ft.com Gerhard Schröder, the German chancellor, on Monday sought to regain the political initiative with plans to cut the tax on savings income and an amnesty to encourage wealthy Germans to repatriate undeclared funds. The proposals are designed to encourage the return of part of the estimated €300bn held by Germans offshore by lowering tax rates at home. A 25 per cent savings tax would replace the current 30 per cent withholding tax, which rises to 48.5 per cent for higher rate taxpayers.