Suchergebnisse für: `insolvency` (497 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.

   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.

   Kategorien: Supreme Tax Court cases

   Schlagwörter: partnership, payments on account, Income ...
3. 16. Februar 2023

   Tax consolidation group in case of insolvency

   The profit pooling agreement under the concept of a tax consolidation group (Organschaft) must be concluded for at least five years and be followed throughout its entire term. According to the decision of the Supreme Tax Court recognition of the Organschaft is to be denied with retroactive effect if preliminary annual financial statements of the controlled company can no longer be adjusted due to insolvency and if a different result would have been reported in the final annual financial statements if the accounting principles under commercial law had been applied correctly.

   Kategorien: Supreme Tax Court cases

   Schlagwörter: profit pooling agreement, insolvency, ta ...
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).

   Kategorien: Supreme Tax Court cases

   Schlagwörter: VAT Organschaft, Protection of legitimat ...
5. 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.

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

   Schlagwörter: insolvency, value impairment, Loss utili ...
6. 20. September 2022

   Input VAT in case of insolvency of the seller may be deducti ...

   In a preliminary request from Lithuania the European Court of Justice has ruled that it is contrary to EU law for the local tax authority to deny an input VAT deduction on the grounds of alleged abuse of rights solely because the seller is insolvent, and the buyer was aware of this situation.

   Kategorien: European Court of Justice

   Schlagwörter: VAT fraud, input VAT deduction
7. 05. September 2025

   ECJ: Joint and several liability of a third party following ...

   The request for a preliminary ruling from Bulgaria concerns the joint and several liability of a third party for the VAT debts of a person liable for payment of that VAT (a company) where that person no longer exists, and where the liability of that third party was not prescribed until after that company’s liquidation. The Advocate General has submitted her Opinion.

   Kategorien: European Court of Justice

   Schlagwörter: liability for VAT
8. 09. September 2024

   ECJ: No direct claim for refund of VAT in case of incorrect ...

   The Supreme Tax Court had asked the European Court of Justice for a preliminary ruling on the question of a direct refund claim in the case of incorrectly invoiced and paid German VAT in the event of the supplier's insolvency. In its judgment, the ECJ is of the opinion that the recipient of the service cannot claim a refund of the VAT paid to the supplier directly from the tax authorities of his Member State.

   Kategorien: European Court of Justice

   Schlagwörter: incomplete invoice, insolvency, refund c ...
9. 26. September 2022

   Attribution of taxable income in fiduciary cases

   The Supreme Tax Court decided in the specific case of a Contractual Trust Arrangement that a fiduciary relationship within the meaning of Section 39 (2) No. 1 Sentence 2 of the German Fiscal Code which is recognized for tax purposes may still exist after insolvency proceedings were initiated over the assets of the trustor.

   Kategorien: Supreme Tax Court cases

   Schlagwörter: trust, fiduciary
10. 13. September 2022

    Liability of the Controlled Company arising after the termin ...

    In a recent case, the Supreme Tax Court decided that the liability of a controlled company (subsidiary) in a tax consolidation group (“Organschaft”) for the tax liability of its controlling company (parent in the Organschaft) is not necessarily limited to such taxes which arose during the existence of the Organschaft. The controlled company may be liable to the extent that the parent is required to pay tax on the controlled company’s turnover and may deduct input tax amounts from invoices for services obtained by the controlled company.

    Kategorien: Supreme Tax Court cases

    Schlagwörter: VAT group, secondary liability, tax cons ...
11. 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”).

    Kategorien: PwC Reports

    Schlagwörter: Organschaft, profit and loss transfer ag ...
12. 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.

    Kategorien: Supreme Tax Court cases

    Schlagwörter: write-off, bond, profit-related interest
13. 07. Dezember 2023

    ECJ: General Data Protection Regulation opposes data process ...

    In two decisions the European Court of Justice (ECJ) held that the General Data Protection Regulation (GDPR) opposes two data processing practices by credit information agencies. While ‘scoring’ is permitted only under certain conditions, the prolonged retention of information relating to the granting of a discharge from remaining debts is contrary to the GDPR.

    Kategorien: European Court of Justice

    Schlagwörter: Data processing
14. 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.

    Kategorien: Tax Court

    Schlagwörter: loss offset, exchange gain or loss, prof ...
15. 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.

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

    Schlagwörter: unsecured loan, intra-group financing, s ...
16. 07. September 2023

    ECJ: Direct refund claim of incorrectly paid VAT also toward ...

    Following a preliminary request from the Münster Tax Court the ECJ ruled that the recipient of supplies of goods has a direct claim towards the tax authorities for reimbursement of improperly invoiced VAT he paid to the suppliers and which has been duly transferred by the latter to the treasury, even if the recipient can no longer turn directly to his suppliers for reimbursement due to the statute of limitation as provided for by national law.

    Kategorien: European Court of Justice

    Schlagwörter: VAT refund, refund claim
17. 10. Oktober 2022

    ECJ: Financing services provided through sub-participation e ...

    According to the ECJ, financing provided to the originator under a sub-participation agreement is a VAT exempt transaction and complies with the exempt transactions listed Article 135(1)(b) of Council Directive 2006/112/EC (VAT Directive) concerning “the granting and the negotiation of credit and the management of credit by the person granting it”.

    Kategorien: European Court of Justice

    Schlagwörter: Credit, loan
18. 15. März 2025

    Restriction to offset losses from tax deferral models not un ...

    Section 15b Income Tax Act dealing with the restriction of loss utilization for tax deferral models does not presuppose that an investment is not economically sensible or has not proved particularly successful. The restriction for an offset and deduction of losses from tax deferral models is also constitutional in the case of a so-called definitive loss. This was currently decided by the Supreme Tax Court who hereby confirmed its previous case law on this matter.

    Kategorien: Supreme Tax Court cases

    Schlagwörter: loss offset, tax deferral scheme, tax lo ...
19. 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.

    Kategorien: Supreme Tax Court cases

    Schlagwörter: Subordinated debt, capital contribution
20. 08. Juli 2022

    Limited tax liability and tax withholding in case of indefin ...

    The transfer of know-how by a foreign creditor for an unlimited period may lead to limited income tax liability in Germany by way of tax withholding. The fact that the know-how must be used domestically in order to trigger German withholding tax does, according to the Supreme Tax Court, not require that the know-how also had the specified scope, substance and quality to fulfill the purposes pursued in the domestic market.

    Kategorien: Supreme Tax Court cases

    Schlagwörter: withholding tax, limited tax liability
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