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Umsatzsteuer Newsletter 23/2020
Update on VAT rate reduction: Non-objection rule gives businesses one additional month for implementation of necessary changes
The Federal Ministry of Finance has published an amended draft of an application letter on the VAT rate reduction. This now contains the non-objection regulation in the B2B sector demanded by businesses, albeit for a limited time, it does not equate to the sought after full “low-tax phase”. Although the Ministry confirms that the application of an incorrect (too high) VAT rate will result in unduly charged VAT, the input VAT deduction should still be granted, in full, "for reasons of practicability" and an invoice correction should not be necessary for supplies rendered in July 2020. This gives businesses one additional month for the implementation of necessary changes.
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Umsatzsteuer Newsletter 22/2020
Federal Fiscal Court: Correction of an Invoice – Retroactive Effect to the Detriment of the Recipient
The issue of invoice correction with retroactive effect for the purposes of input VAT deduction has been an ongoing issue in recent years. In a recent decision, the Federal Fiscal Court has prompted this discussion to head off in a new direction. On the one hand, the Federal Fiscal Court held that the cancellation and reissue of an invoice could also have a retroactive effect. On the other hand, a retroactive correction of the invoice could also be made to the detriment of the recipient. The latter might retroactively lose his right to deduct input VAT.
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Umsatzsteuer Newsletter 21/2020
Corona: reduction of VAT rates and postponement of payment of import VAT (Update)
One is happy, the other not so happy. However, the "Second Corona Tax Aid Act", including a reduction in VAT rates, is advancing in giant steps. In record time, a bill has been drafted that is now being rushed through the legislative process. Work is also already underway on the accompanying administrative circular. Postponement of the due date for import VAT might take a little longer. Our current newsletter provides you with an update on the developments.
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