VAT rate reduction and postponement of the due date for import VAT from 01.07.2020

  • Value added tax

On June 03.06.2020, 19, the federal government passed a billion-dollar economic stimulus package to mitigate the economic consequences of the Corona crisis. In addition to the already passed tax rate reduction for restaurant and catering services in the Corona Tax Relief Act, two further measures have now been passed that affect sales tax: a general tax rate reduction from 16% to 7% and from 5% to 26%, as well as the postponement of the due date for import sales tax to the XNUMXth of the following month. In the link to the newsletter included here, we explain the points to be observed regarding the sales tax implementation and answer any questions that may have already arisen.

Katrin Schramm
Tax Advisor
0621/42508-61
katrin.schramm@moore-tk.de

Overview of the VAT consequences of the economic stimulus package

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  • Value added tax
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