The content will be updated regularly. July 31, 2020, for your 2019 tax return). © 2020 KPMG International Cooperative (âKPMG Internationalâ), a Swiss entity. Under the measures—for the period from 1 July 2020 through 31 December 2020—the VAT standard rate is to be decreased to 16% (from 19%) and the VAT “reduced rate” to 5% (from 7%). Our privacy policy has been updated since the last time you logged in. The Central Customs Authority (Generalzolldirektion), which administers e.g. What is the tax return deadline in Germany?
Taxpayers may submit applications until 31 December 2020 for deferral of taxes already due or becoming due by that date. Measures being proposed in a draft legislation are intended to provide certain tax relief measures and enhanced liquidity in response to the coronavirus (COVID-19) pandemic. An income tax return has to be filed by May 31st (for 2018: July 31st) for the previous year. That means that theoretically you can submit a tax return for 2015 in 2019.
1 January 2019.
The corresponding legal regulation follows. A corresponding period for deferral applications and applications for adjustment of advance payments for income and corporation tax is also. Under the measuresâfor the period from 1 July 2020 through 31 December 2020âthe VAT standard rate is to be decreased to 16% (from 19%) and the VAT âreduced rateâ to 5% (from 7%). No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à -vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. Second, the current transitional regulations with regard to § 2b German VAT Law (concerning new rules for certain âlegal entities under public lawâ) to handle the COVID-19 pandemic would be extended until 31 December 2022. Facilitated possibility to reduce advance tax payments as soon as it is obvious that the taxpayer's income will be lower in the current year (decision at city / municipality level).
Advance payments of income tax, corporate income tax, and trade tax may be made âon presentation of circumstancesâ by taxpayers that can show they are âdirectly and not inconsiderably affectedâ by COVID-19.
Applications for a reduction of the trade tax base, for purposes of advance payments, can be submitted until 31 December 2020. However, some Federal States offer to reduce the special VAT advance payment for 2020 to zero if a permanent extension is granted and to refund the special advance payment to the taxpayer. If payment is not possible in June 2020, employers can look for possible payment facilities beyond this time with the responsible health insurance company (e.g. This will improve the liquidity situation of companies. This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).
Germanyâs Federal Ministry of Finance (BMF) published a set of âfrequently asked questionsâ (FAQs) concerning the tax relief measures as provided in response to the economic impact of the coronavirus (COVID-19) pandemic. Investment tax measures to mitigate economic situations. at the end of June 2020 the deferred social security contributions from March through May would then have to be paid. It is possible to file for extensions.
From June 2020 on, social security contributions may be deferred under a regular deferral procedure: Concerns deferrals that extend the timeframe of the simplified procedure.
However, you can ask for an extension if you are short on time. According to the BMF, only the advance payment, 1/11 in the case of a permanent extension of the deadline, can be reclaimed for VAT. Increased depreciation for âdigital assetsâ, An option for corporate income tax for partnerships.
In addition, a new § 27 (22a) UStG would allow flexibility in light of the COVID-19 implications and specifically would concern the timing of the transition rule application, given that a small number of âlegal entities under public lawâ submitted a declaration before 2016 and have already carried out the necessary adjustment for 1 January 2021; these entities could begin with the application of § 2b UStG by making a corresponding âretractionâ in 2020. Click anywhere on the bar, to resend verification email.
Voluntary tax return submission (Freiwillige Steuererklärung) Actually, not everyone has to file taxes with their respective tax office.
Applications for deferral without indication of a requested deferral period are initially granted for three months. December 2020. If you use the services of a tax … Assessments are issued once the tax office has reviewed the return.