In a letter dated 6 November 2020, the Federal Ministry of Finance (BMF) commented on an interpretation of German limited tax liability on royalty payments, an issue that has emerged as controversial in the recent past. The BMF’s legal position may have significant consequences for internationally operating groups of companies. The easing of the legal requirement that had been originally planned no longer appears to be on the cards.
Limited tax liability applies to royalty payments between non-residents
novus IFRS 3rd Edition 2021
Reverse factoring is an increasingly popular option for pre-financing a company's suppliers. In contrast to conventional factoring, the initiative comes from the customer and not from the supplier. In this novus IFRS, we inform you about how the IDW, with the draft amendment IAS 1-M1 (Reverse Factoring) to IDW RS HFA 50, has clarified the questions of whether the previous obligation from deliveries and services is to be derecognized or whether it is to be In addition, we will provide you with information on the latest developments in the field of financial reporting. In addition, we present the latest IASB publications "Subsidiaries not publicly accountable: Disclosures in the notes" and "First-time adoption of IFRS 17 and IFRS 9 - Comparative information".
novus IFRS 2nd Edition 2021
The IFRS Interpretations Committee (IFRS IC) has addressed the specifics of accounting for configuration and customization costs in software-as-a-service (SaaS) arrangements. In this edition of novus IFRS, we inform you about the results of the deliberations on this topic as well as about other important topics that the standard setters dealt with in the second quarter of 2021.
Specifications of the german tax authorities regarding DAC6
Since 1 July 2020, certain cross-border tax arrangements must be reported to the German tax authorities (DAC6 reporting obligations). After publishing the draft of a letter of interpretation in July 2020, Germany’s Federal Ministry of Finance (BMF) unveiled the final version on 29 March 2021.
Nexia Global Insight July 2019
Nexia Global Insight April 2019