30.08.2024 Foreign currency losses in the case of shareholder loans to ... In a most recent decision, the Supreme Tax Court held that foreign currency losses on shareholder receivables similar to loans do not reduce the taxable income of the corporation. This was decided by the Supreme Tax Court in its interpretation of Section 8b (3) Corporation Tax Act as valid in 2014 and which deals with investments in other corporations and the non-deductibility of losses in connection with certain shareholder loans. Categories: Supreme Tax Court casesKeywords: Loss relief, shareholder loan
11.06.2024 No application of loss forfeiture rules for losses allocated ... The loss forfeiture rules of Section 8c of the Corporation Tax Act in the version valid for 2014 are not applicable to deductible losses which are allocated to a corporation as partner of a limited partnership pursuant to Section 15a Income Tax Act. With this decision, the Supreme Tax Court contradicts the view of the tax administration. Categories: Supreme Tax Court casesKeywords: partnership income, Loss relief
17.02.2022 Fourth Corona Tax Relief Act - Draft Bill - UPDATE!! The German Federal Ministry of Finance has presented the draft bill for a fourth act implementing tax relief measures to address the Corona crisis (Fourth Corona Tax Relief Act) the following tax measures,inter alia, are envisaged: Categories: Official Pronouncements, LegislationKeywords: Coronavirus (COVID-19), Loss relief, Inc ...
16.05.2017 Curtailment of loss relief for companies in part unconstitut ... The German Constitutional Court held that the rules for curtailment of loss relief on change of shareholders to be in breach of the formal provisions of the constitution under the principle of equal treatment insofar as changes of more than 25% and up to 50% of the shares in a company within a period of five years are concerned. Categories: PwC ReportsKeywords: Loss relief, curtailment of losses, chan ...
05.04.2016 Forfeiture of loss relief on upstream merger The Supreme Tax Court has held that an upstream merger leads to new assets in the accounts of the parent (surviving entity) and thus to forfeiture of that company’s remaining loss carry-forward if the new assets are substantial. Categories: Supreme Tax Court casesKeywords: loss carry forward, Upstream merger, Los ...
03.11.2014 Tax & Legal News - Special Edition November 2014 Update ZollkodexAnpG: Bundesrat select committees ask for changes Categories: Tax & Legal NewsKeywords: Capital gains taxation, Loss relief, Zol ...
12.02.2013 Pre-accession relief rule applicable until Commission rules ... The advocate general on an ECJ case on special case exemption from a loss curtailment provision has suggested the court hold the exemption rule to be of pre-accession provenance and thus not to be disapplied as unauthorised state aid unless and until the Commission has come to that conclusion on the basis of a properly completed formal proceeding. Categories: From EuropeKeywords: Loss relief, curtailment of losses, chan ...
29.11.2012 “Minimum taxation” constitutional The Supreme Tax Court has held the “minimum taxation” deferral of loss relief to be constitutionally acceptable. Categories: Supreme Tax Court casesKeywords: Loss relief, minimum taxation, minimum t ...
22.05.2012 Loss carry forward transfer only if loss maker still owned a ... The Supreme Tax Court has held that unused loss relief may only pass to transferee under the Reconstructions Tax Act up to December 12, 2006 if the loss making business was still held by the transferor on date of transfer. Categories: Supreme Tax Court casesKeywords: Loss relief, loss carryforward transfer, ...
25.10.2011 Minimum tax – payment suspension The finance ministry has instructed tax offices to allow payment suspension requests on assessments to “minimum tax” where the future offset of the loss to be carried forward is excluded by law. Categories: Official PronouncementsKeywords: offset, Loss relief, minimum tax, carrie ...
20.01.2011 No relief for loss of foreign subsidiary until final The Supreme Tax Court has held that even if a company is entitled to offset the loss of its foreign subsidiary at all, it cannot do so before the loss becomes irrecoverable. Categories: Supreme Tax Court casesKeywords: Loss relief, write-down, irrecoverable, ...
