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- 2 min read
Future Financing Act: Expanded Tax Relief for Employee Equity Participation
The Federal Government has introduced the draft of a Future Financing Act. Its aim is to improve the tax framework for employee equity participation in companies. Even under current law, there is
Year-EndSource: Deubner Verlag - 2 min read
Tax Aspects of the 49-Euro Ticket
Since May 2023, the new 49-euro ticket (officially the "Deutschlandticket") allows unlimited, nationwide use of all local public transport (IC/ICE/EC not included). Under certain conditions, employers can provide a subsidy
Year-EndSource: Deubner Verlag - 1 min read
New Disclosure Obligations for Corporations
Through the transposition of an EU directive into German law, larger corporations and GmbH & Co. KG entities will in future be required to disclose certain information on their income taxes in the commercial register (so-called Public Country […])
Year-EndSource: Deubner Verlag - 1 min read
Requirement of Sequential Invoice Numbering
Under the VAT invoicing requirements, an invoice must contain a sequential number with one or more series of numbers, assigned uniquely by the invoice issuer to identify the invoice. According to the VAT Application Decree
Year-EndSource: Deubner Verlag - 3 min read
VAT Treatment of Chain Transactions
In a circular issued in spring 2023, the German Federal Ministry of Finance (BMF) revised its position on the VAT treatment of chain transactions. The background to this was a number of legislative changes. In a chain transaction,
Year-EndSource: Deubner Verlag - 1 min read
1% Rule for Tradesperson Vehicles – Company Cars
In principle, the private use of a business vehicle by self-employed individuals constitutes a taxable withdrawal. However, not every vehicle is actually suitable for private use. In the case of workshop vans or service vehicles in particular, the
Year-EndSource: Deubner Verlag - 1 min read
No Estimates Permitted Under the Logbook Method – Company Cars
The private use of a company car can be accounted for using either the flat-rate method (also known as the 1% rule) or the logbook method. The logbook method can offer advantages where the vehicle is not used extensively for private purposes or
Year-EndSource: Deubner Verlag - 1 min read
Plastic Tax: Single-Use Plastics Fund Act to be Introduced
Effective 01/01/2024, the Single-Use Plastics Fund Act (Einwegkunststofffondsgesetz, EWKFondsG), based on an EU directive, will come into force. A levy is intended to provide relief for the costs of disposing of single-use plastic waste incurred by (public-law) waste management bodies, such as municipalities
Year-EndSource: Deubner Verlag - 2 min read
Klimaschutz-InvPG: Tax Incentives for Climate Protection Investments
The draft Climate Protection Investment Premium Act (Klimaschutz-Investitionsprämiengesetz, Klimaschutz-InvPG) provides for the introduction of a premium for investments in climate-friendly technologies and operational measures. This act – part of the so-called Growth Opportunities Act (Wachstumschancengesetz) – is intended to
Year-EndSource: Deubner Verlag - 1 min read
Higher Tax-Free Allowance for Company Events
Previously, benefits granted to employees on the occasion of company events (e.g. complimentary catering, entertainment programme) were subject to a tax-free allowance for wage tax and social security of EUR 110 per event for a maximum of two events
Year-EndSource: Deubner Verlag - 1 min read
New per diem rates for additional meal expenses
The additional meal expenses that can be claimed as business expenses by entrepreneurs or as income-related expenses by employees are to be increased. For each calendar day on which there is an absence of 24 hours from
Year-EndSource: Deubner Verlag - 1 min read
Increase of the Threshold for Gifts to Business Associates
Until now, gifts to business associates or, more generally, to persons who are not employees of the entrepreneur were subject to an annual exemption limit of €35 per recipient. This threshold is now to be raised to €50
Year-EndSource: Deubner Verlag - 1 min read
Reporting Obligation for National Tax Arrangements
A reporting obligation already exists for international tax arrangements. The reporting obligation for purely national tax arrangements has been included in draft legislation for years but has not yet been implemented. Now
Year-EndSource: Deubner Verlag - 1 min read
Introduction of a new interest rate ceiling
The introduction of a new interest rate ceiling threatens to tighten the rules on loan relationships between internationally affiliated companies. One example would be a German subsidiary that receives an intra-group loan from a foreign parent company
Year-EndSource: Deubner Verlag - 1 min read
Expanded Loss Carryforward Rules
Under current law, offsetting current profits against existing loss carryforwards in income and corporate tax as well as trade tax is only possible up to a base amount of €1 million and
Year-EndSource: Deubner Verlag - 1 min read
Extension of the Option for Corporate Taxation
To date, only commercial partnerships and partnership companies have had the option to elect the potentially more favourable taxation as a corporation subject to corporate income tax. Under the planned rules, all other forms of
Year-EndSource: Deubner Verlag - 1 min read
Relief for Advance VAT Returns
Entrepreneurs are to be exempted from the obligation to submit advance VAT returns if the VAT liability for the previous calendar year does not exceed €2,000. The previous threshold was
Year-EndSource: Deubner Verlag - 1 min read
Private Use of Company Electric Cars
For a company car, the private use portion must be taxed. A key parameter in calculating this is the price of the vehicle. Unlike with combustion engines, for a purely electrically powered vehicle
Year-EndSource: Deubner Verlag - 1 min read
Temporary Introduction of Declining-Balance Depreciation
As a rule, assets are depreciated on a straight-line basis over their useful life with equal annual amounts. For movable assets, declining-balance depreciation is now to become available again. It is to amount to up to 25% of the
Year-EndSource: Deubner Verlag - 1 min read
Increase of the Special Depreciation to up to 50%
Under § 7g Abs. 5 EStG, businesses that do not exceed the profit threshold of EUR 200,000 have so far been able to depreciate movable assets by up to 20% of the investment costs in the year of acquisition and the following four years
Year-EndSource: Deubner Verlag