Bookkeeping for limited liability companies (GmbHs) in Germany: Do it yourself or get a tax adviser?
Should I do the bookkeeping for my GmbH myself, or should I hire a tax adviser (Steuerberater)? 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 … Read more
Master list: Accountancy
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 … Read more
Bookkeeping for your UG company in Germany: How to do it yourself
If you want to do the accounting for your entrepreneurial limited liability company (UG) yourself, there are a number of things you have to stay on top of. Not only are you obliged to keep double-entry accounts, but you also have to prepare annual accounts every year. Read more
One-Stop-Shop (OSS): What you need to know
The One-Stop-Shop (OSS) procedure makes it easier for particular companies within the EU to pay VAT on sales to other EU countries.
The OSS replaces the “mini-one-stop-shop” (MOSS) procedure, which was similar but had a smaller scope. Read more
Company taxation in Germany: A breakdown of taxes by legal form
What is the tax liability of an incorporated company in Germany? In this article, you will learn what taxes shareholders of limited liability companies, including non-profit corporations, should expect. Read more
The input tax deduction (Vorsteuerabzug) simply explained
Every business subject to VAT (Mehrwertsteuer or Umsatzsteuer) can deduct input tax (Vorsteuer) to reduce its VAT liability. This involves offsetting the input tax a business pays against the VAT that it charges its customer. This makes the input tax deduction (Vorsteuerabzug) a crucial item for the advance VAT return (Umsatzsteuervoranmeldung). Contents: What is the … Read more