Editorial

Dear Readers,

Many family enterprises, as lifetime achievements due to the hard work of generations, wish to preserve their businesses, ensure that their families are provided for and also use their wealth for the public good. All of this can be realised with a double foundation. In the Key Issue report in this edition of our PKF magazine, we outline the fundamental principles of the double foundation and the tax treatment of its establishment. In the next edition, we will delve into its tax-optimised structuring on the basis of a practical case study. Two further reports in the Tax section focus on VAT. First of all, we present the planned changes for VAT grouping; subsequently we discuss the latest administrative opinion on the simplification and digitalisation of the input VAT refund procedure. Next up, we consider the latest ruling on the liability for trade tax of asset management partnerships deemed to be of a commercial nature. For our final tax topic we discuss a procedural law case that will make it very difficult for foreign employees to get tax refunded where too much payroll tax has been deducted. 

Unfortunately, inflation has gone up again, mainly due to high energy prices. In the Accounting and Finance section we therefore look at the impact that interest rate hikes by central banks have on businesses - particularly on small and medium-sized enterprises. 

More and more companies are collaborating in ‘joint establishments’ or joint ventures. In the Legal section we address the inclusion of employees from these ‘joint establishments’ in the context of co-determination. Furthermore, we draw your attention to new manufacturer obligations that ensue from the Right to Repair Act, which has been in force since July. 

We wish you an interesting read. 
Your PKF Team