Suchergebnisse für: `insolvency` (312 gefunden)

1. 20. Dezember 2011

   Debts automatically bad on opening insolvency proceedings

   The finance ministry has ruled that the VAT on receivables from sales of goods or services is to be automatically cancelled on the opening of insolvency proceedings against the debtor. Payments made later by the trustee lead to re-adjustment of the VAT return. ... Court held that amounts due from an insolvent business were automatically irrecoverable on opening of insolvency

   Kategorien: Official Pronouncements

   Schlagwörter: irrecoverable, insolvency
2. 29. Januar 2019

   Payments-on-account received by a insolvency practitioner do ...

   Where an insolvency practitioner prepares an annual balance sheet, his claim to a payment-on- account is to be treated as a part of the final fee and does not lead to a realisation of profits upon receipt. ... This will be the case where the insolvency court rules on the completion of the insolvency proceedings

   Kategorien: Supreme Tax Court cases

   Schlagwörter: partnership, payments on account, Income ...
3. 12. März 2021

   Tax loss of value of shares following the opening of insolve ...

   If the shareholder's right of membership in a domestic stock corporation (AG) lapses because the AG is dissolved, wound up and deleted from the register as a result of insolvency, the shareholder incurs a taxable loss if he does not receive his contribution back in full or in part. ... Insolvency proceedings were opened against the assets of the AG in 2012.

   Kategorien: Supreme Tax Court cases, Tax & Legal New ...

   Schlagwörter: insolvency, value impairment, Loss utili ...
4. 15. Dezember 2016

   Insolvency: no right of protection for legitimate expectatio ...

   VAT claims may also be asserted in insolvency proceedings against a GmbH, if the GmbH, which had previously been treated as a controlled company in a fiscal unity (Organschaft), which was subsequently not deemed to exist, actually received the VAT owed by it from the assumed controlling company (Organträger). ... The tax authorities then registered the VAT claims for 2009 in the insolvency table.

   Kategorien: Supreme Tax Court cases

   Schlagwörter: VAT Organschaft, Protection of legitimat ...
5. 11. Januar 2021

   Review of profit and loss pooling agreements concluded prior ...

   An amendment to a statutory law which was passed by the Bundestag and Bundesrat in December 2020, entered into force on 1 January 2021, requires a review of those profit and loss pooling agreements concluded and last amended before 27 February 2013. This pertains to profit and loss pooling agreements (PLPA) for tax groups (“Organschaft”) with a GmbH as controlled subsidiary and which do not (yet) contain an explicit and unconditional reference to Section 302 of the German Stock Corporation Act (GSCA) which includes future changes of the provision (so-called “dynamic reference”). ... of the impending insolvency. … calls for review of existing PLPAs with a GmbH as controlled company

   Kategorien: PwC Reports

   Schlagwörter: Organschaft, profit and loss transfer ag ...
6. 09. August 2021

   Loss on exchange of profit participation rights can be offse ...

   The Regional Tax Court of Muenster held that a loss from the exchange of profit participation rights for shares in a registered cooperative ("eG") and bonds may be set off against income from capital investments. Thus, the tax office's attempt to regard the loss as belonging to the non-taxable private asset portfolio of the plaintiff failed. ... In the wake of insolvency proceedings filed over the assets of the GmbH the latter was converted into

   Kategorien: Tax Court

   Schlagwörter: loss offset, exchange gain or loss, prof ...
7. 13. August 2014

   Write-off of worthless loan to employer as expense of earnin ...

   The Supreme Tax Court has held that an employee can write off a bond issued by his now insolvent employer as an expense of earning income if he accepted the bond as the only possible remuneration for work down. ... Five years later, the company went into insolvency and the receiver notified employee bondholders that

   Kategorien: Supreme Tax Court cases

   Schlagwörter: write-off, bond, profit-related interest
8. 10. November 2021

   Supreme Tax Court: Further landmark ruling on intra-group fi ...

   The Supreme Tax Court issued a further landmark ruling in the area of intra-group financing by which the court strengthens the consideration of risk premiums for subordinated and unsecured loans. ... published on 28 October 2021) was, whether a subordinated rank of a loan resulting from the German Insolvency

   Kategorien: Supreme Tax Court cases, Transfer pricin ...

   Schlagwörter: unsecured loan, intra-group financing, s ...
9. 08. Juli 2015

   Subordinated debt not a liability whilst debtor’s liabilitie ...

   The Supreme Tax Court has followed its previous case law in holding that a company financed by subordinated shareholder loans may not take up a liability until the conditions for repayment are met. However, the subordination is a shareholder’s capital contribution to be taken to capital reserve rather than income to the extent the debt had value as an asset at the time. ... In order to avoid opening insolvency proceedings, the (sole) shareholder agreed to subordinate the debt

   Kategorien: Supreme Tax Court cases

   Schlagwörter: Subordinated debt, capital contribution
10. 22. April 2020

    COVID 19: Summary of measures introduced to combat the effec ...

    This article is intended to provide an overview of the current measures taken in connection with the spread of the coronavirus, particularly in tax law. ... In addition to the suspension until 30 September 2020 of the obligation to file for insolvency already

    Kategorien: Official Pronouncements

    Schlagwörter: COVID-19, relief, COVID-19/SARS-CoV-2)
11. 24. Oktober 2021

    Supreme Tax Court rules on arm’s length interest on intercom ...

    In a most recent judgment, the Supreme Tax Court decided on the transfer pricing method to determine an arm's length interest on intercompany loans. In its decision the highest tax court also provides some guidelines on the parameters to be observed from a purely tax point of view. Also, the court takes time to compare the adequacy of the various standard methods under review. ... clarified is whether the subordination of a shareholder loan pursuant to Sec. 39 (1) No. 5 of the German Insolvency

    Kategorien: Supreme Tax Court cases, Transfer pricin ...

    Schlagwörter: arm's length interest, intercompany loan ...
12. 08. Juni 2021

    Abuse of legal forms in the case of merger

    According to the decision of the Supreme Tax Court the offset of losses in case of an upstream merger with the profits of the transferring company accrued during the period of retrospective application was not abusive and in accordance with the legal (tax) provisions in force in the year of dispute (2008). ... the end of 2008, the plaintiff (a GmbH) was experiencing operational losses with imminent threat of insolvency

    Kategorien: Supreme Tax Court cases

    Schlagwörter: Upstream merger, abuse, loss utilization ...
13. 07. September 2011

    Handling fee on subsidised loan immediate expense if not ref ...

    The Supreme Tax Court has held that a handling fee charged on the grant of a publicly subsidised loan should be taken to immediate expense if not partially refundable on earlier loan repayment, or where earlier repayment is confined to instances of contract cancellation for good cause. ... had no early repayment option; that is, the contract was only cancellable for good cause (such as the insolvency

    Kategorien: Supreme Tax Court cases

    Schlagwörter: early repayment, handling fee, subsidise ...
14. 08. Mai 2020

    Government releases draft Corona – Tax Assistance Bill

    At its meeting on 6 May 2020, the Federal Cabinet adopted the Corona Tax Assistance Bill, which - with the exception of editorial changes - essentially corresponds to the Federal Ministry of Finance's original formulation. ... sentence 4) as set out in the Act on the Mitigation of the Consequences of the COVID 19 Pandemic in Civil, Insolvency

    Kategorien: Official Pronouncements

    Schlagwörter: COVID-19/SARS-CoV-2), tax relief
15. 04. Juni 2020

    Government Coalition Committee agrees Crisis Management Pack ...

    In the night of 3-4 June, coalition partners CDU/CSU and SPD agreed on a crisis management package to mitigate the economic impact of the COVID 19 pandemic. ... reduction of the EEG levy (in 2021 this is to be 6.5 ct/kwh, in 2022 6.0 ct/kwh); Introduction of a pre-insolvency

    Kategorien: Official Pronouncements

    Schlagwörter: COVID-19, Corporation tax, loss carry-ba ...
16. 05. Januar 2012

    Tax & Legal News - Issue 1, January 2012

    Includes: PwC Reports, Official Pronouncements, Supreme Tax Court Cases, From Europe and From PwC ... 2011 export documentation rules can be followed first quarter 2012 Debts automatically bad on opening insolvency

    Kategorien: Tax & Legal News

    Schlagwörter: Steuern / Tax
17. 25. Mai 2011

    Loss offset limitation 1999-2003 only applies to notional lo ...

    The Supreme Tax Court has held that the 1999-2003 “minimum taxation” rules apply to “paper” losses, but not to those borne with true economic effect. ... the progressive rate scale which generally led to the recovery of the loss (or its disappearance on insolvency

    Kategorien: Supreme Tax Court cases

    Schlagwörter: minimum taxation, loss offset
18. 03. Juli 2018

    Exemption of loss forfeiture for troubled businesses not ill ...

    The ECJ overturned an earlier judgment of the European General Court and held that the German tax legislation concerning the possibility of a loss-carry forward to future tax years despite a harmful share acquisition in cases of a rescue plan to save the company from insolvency – known as the salvage clause - is not illegitimate state.

    Kategorien: From Europe

    Schlagwörter: loss forfeiture, troubled businesses, il ...
19. 05. Juli 2012

    Full income tax deduction for shareholder loan write-off

    The Supreme Tax Court has held that the write-off of a shareholder loan held as a business asset is fully deductible by the income taxpaying holder even if the loan is to be seen as a substitute for share capital ... was forced to put part of his claim for repayment of the principal into abeyance in order to prevent insolvency

    Kategorien: Supreme Tax Court cases

    Schlagwörter: shareholder loan, write-off
20. 16. Juli 2020

    Shareholding in corporation as a Special Business Asset II

    The Supreme Tax Court has ruled that for the purposes of considering the allocation of a partner's share in a GmbH to the Special Business Assets II of his partnership interest, regard must be had not only to the business relationship of the GmbH with the partnership – but also to whether the GmbH has a substantial business operation of its own. ... Insolvency proceedings were opened on the assets of the GmbH and the KG in 2010.

    Kategorien: Supreme Tax Court cases

    Schlagwörter: limited partnership, special business as ...
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