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From Jan 1, 2021: Depreciation on computer hardware and software over 1 year possible

From Jan 1, 2021: Depreciation on computer hardware and software over 1 year possible BACKGROUND Computer hardware and software are subject to increasingly rapid change due to rapid technological progress. However, the normal useful life, which is the basis for depreciation in accordance with Section 7 of the German Income Tax Act (EStG), has not been reviewed for these assets […]

Electronic transmission of certain tax registration questionnaires mandatory from January 1, 2021

From January 1, 2021, certain questionnaires for tax registration must be submitted electronically Taxpayers must provide the relevant tax office with further information on the legal and factual circumstances relevant to taxation within one month of opening an agricultural, forestry or commercial business or commencing a freelance activity. Regulation until December 31, 2020 Previously, when notifying the opening of a […]

Update on Corona Bridging Assistance (Corona-Überbrückungshilfe)

Under 4.16 of the FAQ of the Federal Ministry of Economics, (in German language only) a note was included that the Bridging Assistance (Corona-Überbrückungshilfe) is limited to a maximum of 90% of uncovered fixed costs. This means that uncovered fixed costs in the context of Bridging Assistance II are the losses that companies report in their profit and loss accounts […]

Home Office während der Corona-Pandemie: Steuerliche Gestaltungsmöglichkeiten

Hintergrund Das Bundesfinanzministerium (BMF) ist der Auffassung, dass Aufwendungen für das häusliche Arbeitszimmer während der Corona-Pandemie grundsätzlich nicht abzugsfähig sind und ausnahmsweise nur dann abgezogen werden können, wenn das häusliche Arbeitszimmer den Mittelpunkt der gesamten betrieblichen und beruflichen Betätigung bildet. Es bestehen dennoch auch ohne Vorliegen eines Mittelpunktfalls weitere Abzugsmöglichkeiten für Heimarbeit sowie Gestaltungsmöglichkeiten im Bereich der Gewährung von Bürokostenzuschüssen […]

Earn-out clauses during Corona-pandemic

Background Since the beginning of the Corona crisis, we have recently seen a recovery of the market for company acquisitions and sales (M&A), especially in the segment of medium-sized M&A transactions. The biggest challenge in M&A transactions in times of Corona is the agreement of a purchase price, since reliable planning as a basis for a company valuation is often […]

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