Aspects of Business Taxation an der Hochschule Rhein-Waal
Karteikarten und Zusammenfassungen für Aspects of Business Taxation an der Hochschule Rhein-Waal
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Lerne jetzt mit Karteikarten und Zusammenfassungen für den Kurs Aspects of Business Taxation an der Hochschule Rhein-Waal.
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Art.3 Equality before the law
Art. 12 Occupational freedom
Art.14 Property & Inheritance
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
- important decisions are published in the BSt.Bl and are then binding to authorities and executives
- decisions only binding when published
- fiscal court rulings not published but closely followed for practice
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Compulsary
a+b+c=x -> law straight forward: if taxpayer fulfills certain criteria then specific tax law is applied
Discretionary
e+f+g= y or z -> tax officer decides outcome
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
What is the Fiscal Code
It is a known as a skeleton law : A central book from which others are growing.
- encompasses tax provisions applicable to other tax acts. Avoids repetition of same provision in each legal act.
-> The fiscal code regulates 2 legal spheres:
1. Substantive ( material ) tax law
2. Procedural(formal) tax law
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
What is Substantive tax law?
- Tax claims ( claim payment, or reimburse overpaid taxes)
- Rule on who is taxpayer(§33 AO) and what is claimed (§37 AO)
- Tax liabilities (how to discharge ones liability)
=> enumerate tax-privileged purposes:
ex: which purpose an entity must serve to be recognised as a charity able to :
- collect donations which are deductable for donee
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
What is Procedural law
Makes up major part of Fiscal code and deals with how law is administrated between taxpayer and tax authorities
- Assessment Procedure
- Investigative Pr. ( if no return or q's) including tax audits
- Notification Pr.
- Rectification for false tax notices
- Tax collection Pr.
- Enforcement & liability pr.
In case tax payer chllenges assessment :
--> Appeal Procedure
In case of fraud --> Criminial & fine procedure.
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Assessment Procedure §149 AO
- The tax law specifies who is obliged to file tax return. Also anyone requested by the revenue authorities to file a return is obliged to do so.
Once obliged, §149 specifies deadline:
- 31.following year
- special rule to extend until 28.2 2.following year if tax advisor engaged
If tax payer fails to file. T. Authorities can impose:
- Late-fining penalty of 0.25%/p.m of tax assess. Min. of 10 € and max 25,000 € §152
- Interest rate start 15months after end of tax year
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Notification Procedure §155
tax payers notified about tax assessment by tax notice.
§157 AO : tax notice shall be :
- issued in written or electronic form
- indicate type & amount of as. tax
- indicate person who owes tax
- include instructions on applicable legal remedies
- indicate deadline to seek remedies
- indicate authority where request to remedie is to be filed
=> for tax assessment to come into effect, notice has to be disclosed to person intended.
--> notice is disclosed 3 days after posting ( in GER, 1 month abroad). If 3rd day is weekend or hol. notice is disclosed on next working day §108BGB
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Name the 7 categories of Income
Profit Inc. Category
- Income from farming and forestry §13 EStG
- Inc. from commercial act. §15
- Inc. from self-employment §18
Surplus Inc. Categories
- Income from employment §19
- In. from capital investments §20
- Rental Income §21
- Other Income § 22&23
-> a taxpayer can earn income from various categories
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Unlimited tax liability
§1 EStG : Natural person, with residence or habitual abode in GER are subject to unlimited tax liability
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Principle of Ind. Taxation
Only income generated by individual is taxed. Married = joint assessment IF:
- Legally married
- Unlimited tax l. for both
- do not live permanently separated
Tax Subject:
Individual may encounter
- Unlimited tax liability
- limited tax liability
- extended limited tax liability
Beispielhafte Karteikarten für Aspects of Business Taxation an der Hochschule Rhein-Waal auf StudySmarter:
Unlimited liability on application
Natural person with neither residence or habitual abode
-> At least 90% of income in calaender year subject to German income tax
OR
-> the income subject to GER IT do not exceed basic tax allowance : 9,168€
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