Tax returns and disclosure of 2019 financial statements: extended filing deadlines

Submission deadlines for 2019 tax returns

An extension of the filing deadlines for 2019 tax returns prepared by members of the tax advisory professions until March 31, 2021 has already been approved by the supreme tax authorities of the German federal and state governments.

And there may also be a breakthrough with regard to a further extension of the submission deadlines: the two coalition partners in the German government announced at the end of last week that they intend to extend the statutory submission deadlines for the 2019 annual tax returns until August 31, 2021. This had been requested by professional organizations due to the heavy workload in tax firms in light of the winding down of the Corona assistance programs. The deadline extension is to be made through a formal legislative process that must pass through the German Bundestag and Bundesrat. The interest regulations are also to be adjusted accordingly. In order to avoid advance requests for tax returns, it is of course advisable to continue filing tax returns on an ongoing basis. We will keep you informed of further developments and continue to critically monitor the deadline extension, also at the political level.

Disclosure of annual financial statements 2019 (Federal Gazette).

With regard to deadline extensions for the disclosure of the 2019 annual financial statements of small and medium-sized corporations, the Federal Office of Justice has announced the following: “In coordination with the Federal Ministry of Justice and Consumer Protection, the Federal Office of Justice will not initiate administrative fine proceedings pursuant to Section 335 of the German Commercial Code before March 1, 2021 (usually 31 December 2020) against companies whose statutory deadline for the disclosure of accounting documents for the fiscal year with a balance sheet date of December 31, 2019. This is intended to adequately address the concerns of stakeholders in light of the ongoing COVID 19 pandemic.

Source: Chamber of Tax Advisors Düsseldorf

Photo: Jan Vašek, Pixabay

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