EFRAG has published a recent report on the status of the IFRS adoption process, which reflects ARC’s endorsement of the IASB Standards Amendments to References to the Conceptual Framework in IFRS Standards and Amendments to IAS 1 and IAS 8: Definition of Material.

The German Federal Ministry of Finance has removed its announcement on “GoBD” dated July 11, 2019 from its website (see our notice dated July 19, 2019) due to further need of coordination.

We have set up a subsidiary in St. Leon-Rot (south of Heidelberg) since July 2019. Seppelfricke DELTA TAX GmbH & Co. KG is performing tax advisory services and is continuing the formerly office of Mr. Seppelfricke. Managing Directors are our partners Klaus Bertram and Jeffrey Larson and also Mr. Seppelfricke. Five employees are taking care …

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 …

The quarterly report 2/2019 by the German Accounting Standards Committee informs about current activities of the IASB/IFRS.

The German Federal Fiscal Court clarified in its decision dated February 13, 2019 that a first time recognition of pension accruals in the year the pension commitment is granted does not lead to a difference which as to be allocated over a period of three years if the first time recognition is carried out on …

On January 14, 2019 the Bavarian regional office for taxes disclosed a note on the treatment of crypto currencies for inheritance and gift tax purposes. The note clarifies that crypto currencies, e.g. Bitcoins” are qualified as financial instruments and therefore need to be designated as financial funds for inheritance and gift tax purposes. The treatment …

The German Federal Fiscal Court has clarified in its ruling dated February 14, 2019 (V R 47/16) that the identity of the issuer of invoices and the service provider or supplier as prerequisite for the deductibility of input VAT corresponds to the jurisdiction of the European Court of Justice according to which the disclosure of …

“Other statutes” in the sense of Sec. 140 German Tax Code can also comprise foreign legal statutes. A stock corporation under the laws of Liechtenstein being subject to limited taxation on Germany is therefore obliged to keep business records according to Sec. 140 German Tax Code based on its accounting obligations in Liechtenstein (Ruling of …

The German Federal Ministry of Finance (BMF) has clarified in its current statement, that remunerations to foreign online platform operators and internet service providers for the placement or mediation of electronic marketing measures on websites are not subject the German withholding tax according to Sec. 50a German Income Tax Act (BMF, Statement dated 3.4.2019 – …