The German Bundestag has introduced exit taxation on investments at record speed. The Bundesrat, the upper house, didn’t ratify yet but is expected to assent to the new rules so that they might enter into force starting on 1 January 2025.
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Companies are facing numerous challenges in complying with the requirements put upon them. Conditions are becoming ever more complex – particularly those to do with tax. Complying with all the legislation and regulations is a critical goal. The requirements on organising tax are growing at the same rate as the requirements of tax compliance. One thing is certain: things are getting more complex — and will continue to do so. We support our clients with implementing a tax CMS based on the practice notes of the Institute of Public Auditors in Germany [Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW)] on designing and auditing tax CMSs under the German standard IDW PS 980.
We focus on the following items for tax CMS:
Risk control matrix
Comparison of the tax risks necessary to achieve tax compliance targets and the steps the company has taken in response, as part of:
- an analysis of current status
- developing a plan of target status and
- support with implementation.
We focus on ways to technically support the tax CMS, particularly in the area of documenting the implementation of measures and controls.
Process documentation
With process documentation, we support the integration of already existing processes and the defining of new processes and controls to be implemented from scratch. We will be glad to model these according to the BPMN 2.0 standard. Using our extensive process library makes process modelling more efficient.
Developing an implementation plan and support with implementation
We give you assistance in developing an implementation plan, from the status quo to the target structure, always keeping in mind which digitalisation solutions to select. We realise that it’s important to our clients to be able to operationalise their tax CMS without incurring disruptions. We will gladly assist you with selecting tools.
Developing a description of tax CMS
The tax CMS should be designed in such a way that it can be used as the indicator that an internal tax control system is functional. It should be possible to prove that an error in a tax return was not made intentionally or through negligence.
We observe the following requirements on tax compliance management systems:
1. A culture of compliance
- The CMS description as the basis for the tax CMS
- The basic attitude and behaviours of management (‘tone from the top and tone from the middle’)
- Information on taxes in the code of conduct
2. Compliance objectives
Defining the major tax goals taking account of the company’s main objectives
3. Organising compliance
- Roles and responsibilities of the tax risk owners and other stakeholders
- Structure and process organisation
- Resource planning/rules on representation
4. Risks to compliance
Identification of significant tax risks to the company/group
5. Compliance programme
Defining measures and controls to minimise risk based on the tax risks identified
- Procedural controls
- Automated controls
- Detective controls
6. Communicating about compliance
- Informing employees and any third parties concerned about the tax compliance programme and about roles and responsibilities
- Defining a channel to report identified tax risks, breaches of rules and tip-offs
7. Monitoring and improving compliance
- Implementing monitoring, control and reporting processes
- Documentation of monitoring
- Continual review of the TCMS to make improvements
News & Insights
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Extinction of Exit taxation introduced
Exit taxation on shares in investment funds introduced
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3 min read
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18 Nov 2024
Documentation of transfer prices
Changes to transfer pricing documentation requirements - surprising changes in local regulations
The legislator has amended the transfer pricing documentation obligations, which were tightened at the end of 2022, and brought forward their application significantly. The following article explains what companies should now bear in mind.
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3 min read
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10 Nov 2024
E-invoicing in the EU
Italy – The European pioneer of electronic invoicing
Italy was the first country in the EU to implement mandatory e-invoicing as of January 2019 in the B2B and B2C segment. As part of our series “E-invoicing in the EU” we highlight the growing relevance of e-invoicing by examining Italy’s successful implementation and offer valuable insights for businesses that are looking to navigate this change.
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5 min read
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31 Oct 2024
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Stefanie Nattkämper-Scholz
Partner
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