The changes in tax legislation approved by the US administration at the end of 2017 entered into force on 1 January 2018. These provide for new tax regulations that have considerable financial implications for the subsidiaries operating in the United States. It is unlikely that any appreciable negative effects on income will be incurred as a result.
In this regard we would refer to our remarks in the “Opportunity and risk report”.
Hannover, 7 March 2018
|Dr. Miller||Dr. Pickel||Vogel|