Reduction of VAT in Germany until the end of 2020, what companies need to consider.
The billion-euro economic stimulus package of the German government includes a planned reduction of the value-added tax rates from July 1 until the end of 2020, which leaves companies with little time to adapt their systems accordingly.
The challenges are many-fold and range from the adaptation of tax rates in the ERP system to how employees evaluate the tax rate to use, as the application of the old and the new tax rate is influenced by many factors. For example, the time of delivery/performance is decisive, scenarios such as partial deliveries, reverse charge, as well as down payments and credit notes must be taken into account.
We at avvaneo are ready to support you. Together with you, we will ensure that all necessary changes are activated in time for July 1, that your employees receive the necessary support ensuring that a smooth process is guaranteed. At the same time, we will implement all activities for the end of the VAT reduction at the end of 2020, so that everything continues to run smoothly in 2021 as well.
This item belongs to: