Schlagwörter: liabilities (2 gefunden)

1. 02. August 2024

   Provision for contingent liabilities in case of working time ...

   A provision for contingent liabilities (for payments in arrears) must be recorded in the tax accounts for the employer's obligation to grant paid time off (two days per year of service) which is available to employees who are at least 60 years old and have been with the company for at least ten years. With its decision the Supreme Tax Court contradicts the previous view of the tax administration.

   Kategorien: Supreme Tax Court cases

   Schlagwörter: pre-retirement, liabilities
2. 24. Mai 2019

   State of Lower Saxony Tax Authorities issue directive announ ...

   According to Section 6(1) no. 3 Income Tax Act, non-interest-bearing liabilities with terms of at least 12 months, which do not constitute a deposit or advance payment, are to be discounted, i.e. a fictitious interest component (interest rate 5.5%) is initially deducted from profits and added back to profits in subsequent years as notional interest over the term of the loan.

   Kategorien: Official Pronouncements

   Schlagwörter: discounts, banks, fictitious interest, l ...