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Umsatzsteuer Newsletter 16/2021
Federal Ministry of Finance on crypto exchanges: VAT exemption for cryptocurrency trading expanded
In a notification dated 3 May 2021, the Federal Ministry of Finance extended the applicability of the VAT exemption for the turnover of trading platforms for cryptocurrencies. From now on, in addition to centralised exchanges (CEX), decentralised exchanges (DEX) can also apply for the VAT exemption for financial services in accordance with Sec. 4 No. 8 German VAT Act. Fortunately, it has now been clarified that IT services related to the exempt supplies are also VAT-exempt. Those affected will be required to shortly adjust their accounting systems. However, VAT refunds for the past could also result. The notification is therefore important for all crypto trading platforms.
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Umsatzsteuer Newsletter 15/2021
Liability of online marketplaces: Federal Ministry of Finance amends German VAT Circular
In its letter dated 20.04.2021, the Federal Ministry of Finance amends the VAT Circular with regard to the regulations on marketplace liability, which already came into force on 01.01.2019. On this occasion, it also comments on the adjustments made to secs 22f, 25e of the German VAT Act with effect from 01.07.2021. Regarding the recording obligations of online marketplaces, it is particularly relevant that the VAT-ID of the online trader replaces the frequently criticized tax registration certificate.
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Umsatzsteuer Newsletter 14/2021
Partnerships as controlled companies of a VAT group: ECJ overturns German restrictions
The ECJ ruled that – contrary to sec. 2.8 para 5a of the German VAT Circular and the opinion of the V. Senate of the Federal Fiscal Court – a partnership can constitute a controlled company of a VAT group even if not all shareholders are financially integrated into the controlling company. Compared to the previous national understanding, the ECJ thus extends the possibilities for a partnership to qualify as a controlled company. Until such time as the judgment is implemented by the German tax authorities, taxable persons should be able to choose which legal interpretation they wish to follow.
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