Companies Must Prepare for Liability Lawsuits In mid-March, the member states of the European Union agreed on the new EU Supply Chain Law. While the European Parliament still needs to approve the draft law, this is considered a formality. Subsequently, EU member states will be required to transpose the directives into national law. Companies should […]
The reporting obligation exists regardless of the size of the transaction. The Money Laundering Act (GwG) serves to combat money laundering, terrorist financing, and tax evasion. Accordingly, the GwG also includes enhanced due diligence and reporting obligations when there is a suspicion of money laundering. If there is a suspicion that money or assets originate […]
Proper Payment of Social Security Contributions With the conclusion of an employment contract, employers and employees enter into rights and obligations. Among the primary obligations of the employer is the payment of wages to its employees. This includes the proper payment of social security contributions for the employee. If the employer does not pay the […]
Legal advice on suspicion of money laundering and account freezing The shock is just as great for businesses as it is for private clients: they want to make a transfer, pay a bill, and the bank is not cooperating. It has frozen the account due to suspicion of money laundering. This can have fatal consequences […]
Enforcement of foreign judgments in Germany A court judgment initially has effect within the borders of the state where the judgment was issued. However, in an increasingly international world where cross-border business relationships are more the norm than the exception, the recognition of domestic judgments abroad and vice versa is becoming increasingly important. The recognition […]
Investors Must Fear for Their Money For investors of the registered bond ProReal Germany 7, there is bad news: Neither the interest payment due on June 30, 2024, nor the repayment of the bonds by December 31, 2024, is expected to occur on time. This was announced by the company in a mandatory notification on […]
The Cologne regional court strengthens authors with judgment from Dezember 21, 2023 German copyright law can also be applied when the infringement occurs on a foreign website. This was decided by the Cologne Regional Court in its judgment of December 21, 2023 (Case No.: 14 O 292/22). In Germany, copyright enjoys particularly high esteem. However, […]
Caretaker of the deceased has no claim to the inheritance A will is considered immoral if it exploits a predicament of the testator. The Higher Regional Court (OLG) of Celle has clarified with a decision on January 9, 2024, that immorality may be present if a professional guardian exploits their position to influence a susceptible […]
Landmark Judgment of the Federal Finance Court, Case No.: IX R 13/22 When an heir of a community of heirs buys out their shares and subsequently sells a property from the estate, no income tax is due on this transaction. This was decided by the Federal Finance Court in a judgment dated September 26, 2023 […]
Turkey shares financial data – Tax dodgers should consider submitting a voluntary declaration
The automatic exchange of financial information is supposed to assist countries in their efforts to tackle cross-border tax evasion. Turkey is now among the countries that share information with the German tax authorities. The automatic exchange of information is a powerful weapon in the fight against cross-border tax evasion. More than 100 countries are party […]
Voluntary disclosure: Germany’s Federal Minister of Finance purchases tax CD from Dubai
Germany’s Federal Minister of Finance, Olaf Scholz, has purchased a CD from Dubai that contains confidential information pertaining to possible tax evaders. A number of taxpayers – including quite a few from Germany – ought to be concerned that their tax evasion will be discovered. There has been little to report on recently regarding the […]
BFH finds rules governing taxation of shares to be partially unconstitutional
Losses from shares can only be offset against profits from the sale of shares. The Bundesfinanzhof (BFH) – Germany’s Federal Fiscal Court – has ruled that this is unconstitutional and asked the Bundesverfassungsgericht – Germany’s Federal Constitutional Court – to weigh in (Az.: VIII R 11/18). The fact that losses from share trading can, to […]
