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Umsatzsteuer Newsletter 58/2020
Invoice Amendment in the case of Incorrectly Applied Reverse Charge Scheme
If taxable persons mistakenly apply the reverse charge scheme, the supplier is required to pay the VAT to the tax office, including any late assessment interest. The customer could previously only claim input VAT upon receipt of a proper invoice. Therefore, there was no interest on refunds. Although the German fiscal authorities affirmed a retroactive invoice supplement for cases of domestic reverse charge, they denied a retroactive effect for alleged intra-Community supplies of services (article 196 of the VAT Directive). A first instance Fiscal Court contradicts this restriction in two recent judgements.
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Umsatzsteuer Newsletter 57/2020
Federal Ministry of Finance: TOGC for letting activity – particularly for property developers and chain transfers
The precondition for a non-taxable transfer of a going concern is the continuation of the business activity. If a letting activity is carried on after the transfer, the transfer is not taxable if the seller has previously operated a letting business with respect to the particular property. The Federal Ministry of Finance specifies that a rental business is to be assumed after only six months of rental activity. Furthermore, the Federal Ministry of Finance takes a position as to when these conditions are met in the case of chain transfers.
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Umsatzsteuer Newsletter 56/2020
BREXIT – Distance Sellers ready?
On 1 January 2020 the United Kingdom left the EU. During the current transitional period, the EU regulations still apply, in terms of VAT and customs law. As things currently stand, the transition period will expire on 31.12.2020. Distance sellers wishing to perform B2C supplies of goods to the United Kingdom from 01.01.2021 should now be making their respective preparations. Yet, which preparations are required exactly, is far from clear. However, despite the fact that it currently remains uncertain whether the United Kingdom will leave the EU with or without a deal, some information can already be substantiated. Our Newsletter sets out what can and should be done now.
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