Are you over-charging VAT to your German customers? What the 2020 VAT changes in Germany mean for you
The VAT rates in Germany changed on 1 July 2020 and many businesses have had to adapt quickly to the new rates. Although these changes are straightforward in theory, they have introduced many practical challenges for businesses, particularly those that supply services on a continuous basis and where their sales invoices may cover longer periods. Examples of affected areas include rentals, leasing, maintenance, financial and payroll accounting, licencing, service agreements and telecommunication services.
Katrin Schramm, VAT expert at Moore TK Mannheim, a fellow Moore Global Network associated firm in Germany, explored the recent changes in great detail. The full article can be viewed here.