Accountancy

Should I do the bookkeeping for my GmbH myself, or should I hire a Steuerberater (tax adviser)? Can a layperson actually do bookkeeping? Does it make sense to use accounting software? This article explores whether it’s worthwhile to invest in a tax adviser by weighing up the pros of cons. Contents Should I do the …

Want accounting and taxation in Germany explained to you in plain English? You’ve come to the right place! From tax optimisation strategies for your company to a primer in EOFY accounting, get your German business education here. All the articles have been categorised (see the contents below) and linked for ease of navigation. We hope …

Contents Financial peculiarities of the UG Double-entry accounting Accounting terms Stay on top of these things Want to learn more about the UG? What is a UG (haftungsbeschränkt)? – Definition and facts Should you set up a GmbH and a UG? Registering a GmbH or UG: Here’s how! How to find the perfect company name …

Contents What is Gewerbesteuer (trade tax)? Who has to pay trade tax? Who doesn’t have to pay trade tax? Is there a trade tax allowance?  When and how to pay trade tax How to account for trade tax  Which places charge the highest trade tax? Which places charge the lowest trade tax?  How can I …

If you’re setting up a business in Germany, you should know about Körperschaftsteuer (corporation tax). This tax applies to the income of legal entities such as Kapitalgesellschaften (corporations/incorporated companies), Genossenschaften (cooperatives) and Vereine (associations). To find out whether you’re liable to pay this tax, how it’s calculated and what exactly corporation tax credits, reclaims and …

What is the difference between Vorsteuer (input tax) and Mehrwertsteuer / Umsatzsteuer (VAT)? What is the Kleinunternehmerregelung (small business regulation)? What is the difference between Istversteuerung (actual taxation) and Sollversteuerung (debit taxation)? Let’s get the answers to these questions below. Contents What is Umsatzsteuer (VAT)? Who has to pay VAT in Germany? Why do I …