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Partnerships with option for corporation tax – Draft legislation has been put forward

The Federal Government presented a draft Act on the Modernisation of Corporation Tax Law on 17.3.2021. This also aims to internationalise corporation […]

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BREXIT – Customs challenges and complying with rules of origin requirements

Following the end of the Brexit transition period, the United Kingdom (UK) officially ceased to be a part of the EU at the beginning of 2021. While […]

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Important changes resulting from the Third Coronavirus Tax-Related Assistance Act

On 5.3.2021, the Bundesrat (upper house of German parliament) passed the Third Coronavirus Tax-Related Assistance Act. A key aspect in terms of the […]

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Shorter useful life of computer hardware and software

Assets such as computers and software form the core of digitalisation and are subject to ever faster change on account of technical advances. The […]

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Coronavirus-induced suspension of VAT on in-kind donations

In-kind donations are generally subject to VAT if the items had been previously purchased with input tax deductions. It is therefore not uncommon that […]

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Carve-outs – Active portfolio management through the demerger of a business division

Carve-out transactions play an increasingly important role in the context of successful structuring of M&A activities, for example, as a preparatory […]

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The Fund Location Act – Draft law to support start-ups and SMEs

On 20.1.2021, the German government put forward draft legislation with the aim of making Germany a more competitive and attractive financial centre […]

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On the admissibility of coronavirus-induced rent reductions

In recent decisions on commercial lease agreements, two Higher Regional Courts (Oberlandesgericht, OLG) simultaneously ruled on adjustments made to […]

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Foreign shareholdings – Notification obligations

The Fiscal Code (Abgabenordnung, AO) contains a reporting obligation on the basis of which German taxpayers have to notify their competent tax offices […]

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Employment relationship between spouses has to stand up to an arm’s length comparison

Where employment contracts are between close relatives the salary payments can be deducted as business expenses if they comply with the arm’s length […]

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Plans for the reform of tax legislation in the USA

Shortly after his inauguration, on 20.1.2021, the new President, Joe Biden, started reversing many of his predecessor’s decisions and providing new […]

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Withholding capital gains tax – Plans to simplify procedures

On 20.1.2021, the German Federal Cabinet adopted the draft bill on the Modernisation of Withholding Tax Relief and the Certification of Capital Gains […]

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Tax-free repayment of capital contributions from foreign corporations

A shareholder may generally receive payments free of tax if they originate from the profit distributions of a corporate body and if these payments can […]

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Latest news on input tax deduction for a holding company

A so-called functional holding company or management holding company is deemed to be a business that has to register for VAT if its sole purpose is […]

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Anticipated work-related costs in the case of a semester abroad

In the context of higher education, for the purpose of deducting allowable expenses a distinction is made between undergraduate studies and second […]

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Transformation of the transparency register – Instead of the presumption of notification (Mitteilungsfiktion) there will now be new obligations backed up by fines

In accordance with the EU anti-money laundering directive, the transparency registers of the EU member states have to be interconnected with each […]

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Insolvency – Contesting the sale of a property below value

In the run-up to a looming insolvency, debtors frequently attempt to salvage the available private assets from the clutches of the insolvency […]

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Internet sales – Threshold for classification as a business

Occasional private sales on the internet will usually have no tax consequences. If the internet sales continue to grow, however, there is a risk that […]

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Flat-rate tax on non-cash benefits – The costs for the external setting of a business event have to be included

Business-related benefits for employees that are provided by employers in addition to the remuneration that would in any case be due may be taxed on […]

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Will coronavirus cause the home office to become a permanent establishment?

In view of the global pandemic, in some cases, employees are working exclusively from a home office (HO). If an employee lives in another country then […]

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