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Umsatzsteuer Newsletter 44/2020
Annual Tax Act 2020 (Part 13): Invoice correction: no retroactive under the German General Fiscal Code
In the thirteenth and last part of our KMLZ newsletter series on the Annual Tax Act 2020, we present the new regulation of sec. 14 para. 4 sentence 4 of the German VAT Act. According to this regulation, the correction of an invoice for missing or incorrect information does not constitute an event with retroactive effect within the meaning of sec. 175 para. 1 sentence 1 no. 2 of the German General Fiscal Code and sec. 233a para. 2a of the German General Fiscal Code. The retroactive effect of an invoice correction applying to periods of assessment, which have already expired, can thus lead to a permanent loss of input VAT deduction in individual cases. In addition, the regulation also has an impact on interest on late payments and refunds. Unfortunately the new regulation doesn’t go far enough.
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Umsatzsteuer Newsletter 43/2020
Annual Tax Act 2020 (Part 12): Fine provisions according to Section 26a and Section 26b German VAT Act
In the twelfth part of our newsletter series on the Annual Tax Act 2020 we are examining the amendments of the previously relatively unknown fine provisions in the German VAT Act. Due to the planned changes, the tax authorities are likely to focus more on these regulations in the future. Companies are therefore called upon to review their processes - especially their payment methods – already now.
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Umsatzsteuer Newsletter 42/2020
Annual Tax Act (Part 11): Cross-border price reductions within a supply chain
In the eleventh part of our KMLZ newsletter series on the Annual VAT Act 2020 we comment on the planned changes regarding cross-border price reductions, which the supplier grants, not directly to his customer, but to another recipient in the supply chain. With the implementation of sec. 17 para 1 sentence 6 into the German VAT Act, a legal loophole will be closed. When the Annual VAT Act 2020 comes into effect, it will no longer be possible to reduce the output VAT when the supply to the recipient, who benefits from the price reduction, is VAT exempt.
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