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Umsatzsteuer Newsletter 08/2015
GoBD focus more on VAT
The Federal Ministry of Finance has comprehensively reviewed the 1995 GoBS and the 2001 GDPdU. Both have now been amended and merged into one document, namely the GoBD (principles of duly keeping and retaining books, records and documents in electronic form as well as regarding data access). The review was overdue. What is new here is that the GoBD noticeably refers to VAT. In light of the above and due to the growing significance of complete and effective tax compliance, companies should check the impact of the new GoBD on their internal VAT related processes.
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Umsatzsteuer Newsletter 07/2015
VAT treatment of discounts has been changed
Based on new case law, an intermediary is no longer entitled to reduce his output VAT if he refunds to the customer of the transaction procured by him part of the transaction price. The German Ministry of Finance issued a circular confirming this opinion on 27 February 2015. This circular will have a great impact on many agents e.g. of telephone contracts, car dealers, purchasing associations and travel agents. The concerned companies will have little time to amend their structures and their invoicing procedure.
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Umsatzsteuer Newsletter 06/2015
Protection of legitimate expectations regarding intra-Community supplies
Fiscal authorities often refuse the tax exemption for intra-community supplies of goods arguing that the taxable persons would have been acting in bad faith due to their involvement in perpetrating a tax fraud. In the present proceedings before the Federal Fiscal Court, the fiscal authorities presented, in their view, extensive incriminating evidence, including evidence of the particular company being run as a dummy company, demonstrating a neglected duty of care.
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