Weismann Tax Firm

Elena Weismann
Graduate Economist, Tax Consultant
Certified Consultant for International Tax Law
Viewing posts from: October 2018

Acquisition-related production costs by elimination of hidden defects after acquisition of real estate

by Elena Weismann in News from tax law

Unexpected expenses for renovations after the acquisition of a property also result in production costs close to acquisition cost if other conditions are met.

Read more

Annual financial statements from 2017 must be published by the end of 2018

by Elena Weismann in News from tax law

Companies that are legally obliged to publish their annual financial statements (e.g. GmbH or GmbH & Co. KG) must observe the deadline for publication. At the latest, the financial statements must be published before the end of the twelfth month of the financial year following the reporting date. Companies that do not submit their annual financial statements on time should expect to be fined.

Read more

Posting of EC card transactions in cash management

by Elena Weismann in News from tax law

In businesses with predominantly cash transactions customers often opt for cashless payments using EC cards. However, the booking practice performed by these companies has recently been questioned. At first the total turnover including cashless business transactions (EC card payments) is recorded in the cash book, and in a following step the EC payments are then again removed and separated. The total amount is also posted to the cash account before the EC card transactions are cleared again. The Federal Ministry of Finance (Bundesministerium der Finanzen) remains to see this as a formal deficiency in bookkeeping.

Read more