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- 1 min read
New thresholds (€1,000) for low-value assets
Currently, the acquisition or production costs of so-called low-value assets (geringwertige Wirtschaftsgüter, GWG) can be deducted in full immediately if they do not exceed €800 (excluding VAT). The prerequisite is that they are
Year-EndSource: Deubner Verlag - 1 min read
Growth Opportunities Act: General Notes
Important – part of the Growth Opportunities Act – status: The Bundesrat has convened the Mediation Committee with the aim of a fundamental revision of the Act.
Year-EndSource: Deubner Verlag - 1 min read
Taxation of December emergency aid to be dropped (December advance payment for gas and district heating customers)
The Act on the December Emergency Aid came into force on 19 November 2022. Under these provisions, the federal government covered the costs of the December advance payment for gas and district heating customers. This regulation
Year-EndSource: Deubner Verlag - 1 min read
€12.41 – Minimum Wage Increase from 2024
Following a proposal by the independent Minimum Wage Commission, the minimum wage will rise from the current €12.00 to €12.41 as of 1 January 2024. A further increase to €12.82 is scheduled for 2025. The
Year-EndSource: Deubner Verlag - 6 min readRecommended
Outlook: Mandatory Electronic Invoicing
Note: The new electronic invoicing format creates the initial conditions for a reporting system for electronic invoices to the tax authorities. This will enable real-time invoice verification
Year-EndTax AdvisorySource: Eigene Recherche - 1 min read
Higher Basic Tax Allowance from 2024
The basic tax allowance is the amount of taxable income up to which no income tax is calculated. In 2023, the basic tax allowance was raised from €10,347 in 2022 by €561
Year-EndSource: Deubner Verlag - 1 min read
Extended Filing Deadlines for Tax Returns
The Fourth Corona Tax Assistance Act extended the filing deadlines for tax returns (income tax, corporate income tax, trade tax, VAT). One reason was the increased workload for Steuerberater (German Certified Tax Advisors) in 2021 and 2022,
Year-EndSource: Deubner Verlag - 3 min readRecommended
BFH ruling: Accommodation costs for a second household abroad
For employees in the service of the Federal Republic of Germany (e.g. ambassadors), field staff, employees on secondment, etc., it is quite common to work for several days, weeks or months at the location of their foreign place of employment.
Tax AdvisoryAuditSource: Deubner Verlag - 1 min readRecommended
BFH ruling: VAT exemption for operating a cafeteria in a retirement home
Case in dispute: The plaintiff operates a retirement home. In addition to breakfast, lunch, and dinner, residents were also provided with a dining room on their respective ward. Furthermore
Tax AdvisoryAuditSource: Deubner Verlag - 2 min readRecommended
Preparing an Inventory List and Conducting a Stocktake
Every merchant within the meaning of the German Commercial Code (HGB) must prepare a list of inventory at year-end. All assets (e.g. land, goods, receivables, liabilities, etc.) are measured by quantity and value
Tax AdvisoryAuditSource: Deubner Verlag - 4 min readRecommended
BFH Ruling: Child Benefit for Children Studying in EU/Non-EU Countries
More and more young adults want to study internationally. Countries such as the USA, the United Kingdom and Australia (non-EU countries) are quite popular. This raises the question for parents of
Tax AdvisoryAuditSource: Deubner Verlag - 1 min readRecommended
No Anticipatory Deduction of Income-Related Expenses Where a Usufruct Is Reserved
Income-related expenses are expenditures incurred to acquire, secure and maintain income (§ 9 Abs. 1 S. 1 EStG). Accordingly, such expenses are also deductible in advance to acquire income (e.g. application photos, etc.)
Tax AdvisoryAuditSource: Deubner Verlag - 3 min readRecommended
Photovoltaic Systems – Co-Entrepreneurship and Commercial Infection
Following the expansion of the income tax exemption under Section 3 No. 72 EStG, the thresholds for tax-exempt operation of photovoltaic systems have been broadened. For asset-managing partnerships that were previously deemed commercially infected through the operation
Tax AdvisoryAuditSource: Deubner Verlag - 2 min readRecommended
BFH ruling: income taxes as estate liabilities upon cessation of an agricultural and forestry business
Case at issue: The plaintiffs are heirs of the testator who died in 2016. At the time of death, he owned a leased agricultural and forestry (LuF) business. Following the death of the testator
Tax AdvisoryAuditSource: Deubner Verlag - 2 min readRecommended
Rent-Free Provision of an Apartment to Children Not Considered Under § 32 – Sale Transaction
During studies or to provide their own living space, it is quite common for parents to let their children use apartments or rooms free of charge to support their living costs. In the context
Tax AdvisoryAuditSource: Deubner Verlag - 3 min readRecommended
VAT Exemption – Letting and Leasing Including Operating Equipment
Statutory background: As a rule, income from the letting and leasing of land and buildings is exempt from VAT under § 4 No. 12 S. 1 lit. a UStG. This rule
Tax AdvisoryAuditSource: Deubner Verlag - 3 min readRecommended
Self-Employed or Commercial Activity by Pensioners – Recognition of a Home Office
Due to the time freed up after their main occupation and often for financial reasons, pensioners are increasingly taking up self-employed or commercial work after the end of their main career (e.g. as writers, craftsmen,
Tax AdvisoryAuditSource: Deubner Verlag - 3 min readRecommended
BFH Ruling: Private Disposal Transaction in the Course of Divorce
Case at issue: Sale of co-ownership share after separation. The now-divorced spouses acquired a single-family home in 2008, each holding a 50% share. They lived in it together with their son until
Tax AdvisoryAuditSource: Deubner Verlag - 2 min readRecommended
Training Costs – Business Expenses or Special Expenses?
The question frequently arises whether expenses for one's own vocational training are deductible as business expenses (Werbungskosten) or as special expenses (Sonderausgaben). We clarify this in the following text. Basics: Deductibility of training costs
Tax AdvisoryAuditSource: Deubner Verlag - 4 min readRecommended
BFH Ruling: Application of the 1% Rule to Tradesperson Vehicles
The extent to which private use of a tradesperson's business vehicle must be accounted for via the 1% rule or a logbook is frequently a point of dispute with the tax office. In the following,
Tax AdvisoryAuditSource: Deubner Verlag