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Umsatzsteuer Newsletter 18/2024
Annual Tax Act 2024: amendments to the Platform Tax Transparency Act (PStTG)
The draft bill of the Annual Tax Act 2024 contains amendments to the Plat-form Tax Transparency Act, which came into force on 1 January 2023. Based on the experience of submitting the first report by 31 March 2024, the platform economy had hoped for legislative amendments that would meet practical requirements. As things stand, the draft bill does not fulfil this hope.
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Umsatzsteuer Newsletter 17/2024
Annual Tax Act 2024: Small enterprises go international
The draft bill for the Annual Tax Act 2024 contains two crucial changes for small enterprises: The turnover limits will be increased to EUR 25,000 and EUR 100,000 and the way they operate will also be reorganised. In addition, as from 2025, EU small enterprises will also be able to benefit from the special scheme for small enterprises in other EU countries. A special reporting process and a new small enterprises identification number will be introduced for this purpose.
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Umsatzsteuer Newsletter 16/2024
Annual Tax Act 2024: Harmonisation of VAT exemptions with Union law: management of credit and operational helpers in agriculture and forestry
Among other things, the draft bill of the Annual Tax Act 2024 aims to bring two VAT exemption provisions into line with Union law. Sec. 4 para. 8 lit. a and g of the German VAT Act is to be amended in line with the clear wording of the EU VAT Directive to include the management of credits and credit guarantees by the creditor. Additionally, the draft bill concerns the VAT exemption of business operating aid for farmers and foresters. Sec. 4 para. 27 lit. b of the German VAT Act should be made neutral in terms of legal form and in line with Union law to the extent that it covers services provided by individual operational helpers acting as sole proprietors.
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