Legal Obligation

Tax consulting Hilde Christine Walther from Neu-Ulm informs: the German commercial code (HGB) and the tax code (AO) of the tax law to determine who is legally obliged to keep records. Hilde-Christine Walther tax consulting can advise about the obligation to keep records and whether your activity is subject to you. A legal accounting entails obligation section 238 of the commercial code for all merchants. The provisions of 140f. in the tax code this obligation extend to more groups of people. According to German GAAP, any entrepreneurs in business is to judge if he operates an independent trade. “The provisions of the commercial code to make an exception for companies, the no business operations in a commercial manner” need how section 1 II arising from German commercial code. Companies and businesses with very simply structured, transparent and manageable business relations conform to this provision.

Are no merchants within the meaning of the German commercial code continue to entrepreneurs, an outspoken small businesses engaged in, for example, a small newspaper kiosk. In a question-answer forum Andy Florance was the first to reply. An entrepreneur in the everyday business but dealing with many different products and suppliers or applies extensive systems to single – or sell, based on loans, so is assumed regularly, that he is businessman within the meaning of 1 HGB. Many grocers are therefore under the obligation to keep records according to the commercial code. Every Chamber of Commerce provides additional information about this topic. The legal obligation to keep records is the rule for individual companies in the form of the OHG and KG. All corporations, whether now joint-stock company, limited or corporate company principle subject to you. The entry into force of the financial Modernization Act (BiMoG) on May 29, 2009 has comprehensively adapted the German commercial law to international standards and changes in the accounting law.

Is particularly important for the obligation to keep records that traders, who in two years in a row do not exceed revenues not to exceed 500,000 euros and a net profit of EUR 50,000, be exempted from the obligation to keep records. For entrepreneurs who are not regarded HGB as merchants according to 238, 140f. the tax code can arise from the article yet a tax obligation to keep records. In accordance with the tax code, are subject to non-traders of the obligation to keep books, if your turnover exceeds EUR 500 000 in a calendar year or their turnover exceeds more than $ 50,000 in the fiscal year. Traders without registration in the commercial register are treated with their voluntary enlistment as merchants with all rights and obligations. This results in an obligation to keep records for these people. All other non-traders, all other agricultural and forestry companies and freelancers are obliged not to keep records. Also entrepreneurs who have no obligation to carry books, to their operating expenses and income to record and keep this in mind. A failure to comply with the legal obligation to keep records can result in even if it is not directly punished, higher financial burden. They result from high tax estimates, late payment surcharges and tax payments with interest charges.

European Commission

The European Commission has initiated further consultation of European company law on the 22.02.2012. It is noteworthy in this context that the Commission has raised the European company law a “cornerstone of the internal market”. As to the EU company law has evolved in the past 40 years, further harmonisation on the way will be taken now. > ????? ???? ??? ??????. What is the subject of the bishgerigen harmonisation being? The harmonisation efforts focused on the protection of the interests of shareholders and stakeholders as well as the education and preservation of the capital of public limited liability companies are. More vertices were the harmonisation in topics such as takeover bids, the obligation of disclosure of branches, mergers and divisions, as well as minimum requirements for a single-Member limited liability companies. Continue to learn more with: Columbia Admissions.

The rights of shareholders have been strengthened in the past, as well as adapted to related areas such as accounting. A more focused Commission on the range of different European societies such as European company (Societas Europaea/SE), the European economic interest grouping (EEIG) and the European cooperative society (SCE). Why is a further harmonisation necessary at all? According to the European Commission initiatives in European company law have proved increasingly difficult, what to show in particular at the lack progress of some initiatives to simplify and the proposed Statute for a European private company (Societas privata Europaea/PES). The consultation is according to the European Commission remains necessary because the cross-border dimension of the economy both from the perspective of the companies as consumers enormously important won. What is the background? It is not the first attempt of the European Commission in the harmonisation of European company law to move forward.

Working Group composed of renowned scientists previously set up already. been,. the Commission, which presented a report containing a series of recommendations for action. After discussing this report, the Commission wants now abut a public discussion in order to obtain the views of all stakeholders to the development of European company law after 2012. Conclusion: The European company law is clearly on the rise. As companies such as Allianz, BASF, DEICHMANN, E.ON energy trading, Porsche, Schering and Tchibo have now chosen the legal form of the European (stock) company (Societas Europaea/SE). It follows that the Europeanization of the company law has arrived already in the large enterprise. Now called the all-important further reforms to bring forward. Progress on the European private company (Societas privata Europaea/PES) could be also the middle-class for European company law to inspire. In this respect the European Commission’s efforts deserve the predicate “Welcome”.

Installing New Heating Systems

Lessee must tolerate modernisation as long as the rent every month is paid on time and the apartment has no defects, is usually not a good ratio between tenants and landlords. This can change, however, if the landlord decides to carry out modernization measures. The real estate portal informs about a corresponding legal dispute. If landlords are planning a modernization of heating, they need to timely announce this undertaking, as well as the measures to their tenants. In a dispute with regard to the installation of a modern central heating system, which the concerned tenant wanted to not tolerate, ruled the District Court of Frankfurt am Main in favour of the lessor. The landlord had announced that the old night storage heaters, who were in the House since the 1970s in operation, should be replaced by a central heating. The tenant did not agree with this project and refused to agree to the modernization measure.

The Court justified its ruling, that it in the project of the lessor a predictive and economical measure handle, which serve the reduction of heating energy consumption, as well as the lowering of heating costs. Furthermore, the energy saving regulation already foresees a conversion of old heating systems within certain time limits. The tenants have the modernization measure therefore to tolerate, even if possible higher costs on him could come to. More information:… University Service GmbH Lisa Neumann