The German federal government and the German state governements passed several aid measures like credit programmes a so-called Corona safety shield and tax aid measures. The passed aid measures are not for every company which is economically affected by the Corona-pandemic equally useful and applicable. We recommend the companies which are economically affected by the Corona-pandemic zu review carefully, which measure makes sense for the specific case to survive the crisis successfully.
For companies of every size which are affected by the Corona-crises the income tax, trade tax and corporate tax prepayments which are due on a quarterly basis can be reduced upon application in a siplified application procedure without individual proof. Christian Dobner, Managing Partner of TLI Steuerberater recommends to his clients to respect the formal conditions for the application.
Due to the fact that the next trade tax prepayments are already due on May 15th, 2020 and that the next income tax and corporate tax prepayments are already due on June 10th, 2020 we recommend to file an application to reduce the tax prepayments as soon as possible if it is already foreseeable that the turnover, the profit or the lqiuidity is negatively affected by the Corona-pandemic.
Tip: For our clients who are especially bad affected by the Corona-pandemic our tax advisors at TLI Steuerberatungsgesellschaft applied for a refund of the already paid tax prepayments for 2020. In every case prepared by us the tax authorities granted our application and refunded the already paid tax prepayments to the client. This provides additional liquidity to our clients.