News at a glance

Bridging aid Corona (Phase 2) is extended, expanded and simplified

On September 18, 2020, the Federal Ministry of Economics and Energy (BMWi) informed about the extension and expansion of the bridging assistance provided by the Federal Government for the months September to December 2020, whereby the access conditions will be lowered and the assistance expanded.

The aid programme (Bridging Assistance II) supports small and medium-sized enterprises as well as solo self-employed and freelancers who are particularly hard hit by the measures to combat corona with non-repayable grants towards fixed operating costs. Depending on the level of the fixed operating costs, companies can receive up to 200,000 euros in funding for the four months.

Read more

No short-time work compensation without German company headquarters?

Recently, there has been an increasing number of inquiries from concerned clients who employ employees in Germany subject to social security contributions but do not have a registered office in Germany.

This is usually due to notifications from the German Employment Agency which, referring to the lack of a company seat in Germany, do not correspond to the notification of loss of employment. However, this is a prerequisite for the reimbursement of the short-time work allowance (KUG) by the Employment Agency. This procedure is difficult to understand, especially since these companies pay social security contributions for their employees in Germany.

Read more
Überbrückungshilfe Corona

Application deadline for “Überbrückungshilfe Corona” – this is non-refundable!

The application period for the bridging aid Corona will be extended according to the meeting of the coalition committee on 25.08.2020. The decision provides that the duration of the bridging aid program for small and medium-sized enterprises will not end until 31.12.2020.

Applications for the Corona bridging assistance program have been possible since July 2020 at the Bavarian Ministry of Economic Affairs. The application period for phase 1 ends on 30.9.2020. For phase 2, which comprises the funding months September to December 2020, it is expected that applications can be submitted from October onwards.

Read more
Selbstanzeige Finanzamt Türkei

The next wave of voluntary declarations to the tax office is foreseeable!

Since 2014, 100 countries have committed themselves to exchange information from account holders among themselves in the framework of the Automatic Information Exchange (AIA). This OECD measure ensures greater transparency in international money transactions and, as seen in the example with Switzerland, has also resulted in numerous cases of voluntary disclosure to the tax authorities.

At the beginning of July, the Federal Ministry of Finance announced which other countries are now participating in the exchange. Turkey is also participating for the first time.

Read more