Property tax reform adopted

On November 8, 2019, the German Federal Council adopted the reform the German property tax. This means that the legislative package consisting of amendments to the Basic Law and changes to property tax and valuation law can enter into force as planned: As from 2025, the federal states will levy property tax according to the …

DRSC adopts DRÄS 10

The German Accounting Standard Committee (DRSC) adopted German Accounting Amendment Standard No. 10 (DRÄS 10) on 17 October 2019. DRÄS 10 mainly clarifies the regulations in DRS 25 Currency Translation in the consolidated financial statements for inflation adjustment by indexation. In addition, editorial changes have been made to DRS 16 Half-Year Financial Reporting, DRS 19 …

New announcement to principles on proper bookkeeping and recordkeeping in digital format as well as on data access

The German Federal Ministry of Finance has published an announcement on new principles on proper bookkeeping and recordkeeping in digital format as well as on data access. (Announcement dated July 11, 2019 – IV A 4 – S 0316/19/10003 :001).The announcement replaces the previous announcement dated November 14, 2014 and has to be applied for …