The western German province of Hesse, home to Frankfurt, has set up a toll-free hotline and site – both in English – for dealing with tax inquiries from finance experts considering a move in the period of Brexit.
The website, http://gofrankfurttax.com, says, “Do you have any initial questions regarding your income tax matters – and in English? Then you have come to the right place!” as it welcomes users on its homepage, which is illustrated with an image of the Frankfurt skyline.
The English-dialect hotline is free for anybody calling from Germany or Britain. Hesse’s Finance Minister Thomas Schaefer likewise welcomes prospective migrants for face-to-face discussion with his tax experts.
The state has been striving to showcase itself as a home to the financial industry following Britain’s withdrawal from the European Union.
Money Street banks Morgan Stanley and Citigroup both said a week ago they would build up their EU trading centres in Frankfurt to guarantee they could still serve clients in the coalition after Brexit.
“German tax law is a challenge even for Germans,” said Bernadette Weyland, state secretary in the Hesse finance ministry. “Those who come from another country are sure to have even more questions.”
Foreign banks that have said they would set up branches in Frankfurt include Mizuho Financial Group <8411.T>, Nomura <8604.T>, Daiwa Securities <8601.T>, Sumitomo Mitsui Financial Group <8316.T>, and British lender Standard Chartered.
The free service hotline is +800 2545 0000, accepting calls Mondays to Thursdays from 8 am to 330pm, and 8 am to 12noon on Fridays.