Nature of the income allocated to the partners The nature of the income allocated to the partners is based on how the income is classifed at the level of the partnership. A partnership generates income from commercial business activity (Einkünfte aus Gewerbebetrieb) if it is a commercial business (Gewerbebetrieb).To qualifyRead More →
Share of agricultural research Particularly since 2005, the share of agricultural research in total expenditure (by the German funding priorities) has been constantly increasing from 1.75% to 4.2% of total expenditure in 2012. Opposed to that, the share of governmental agricultural expenditure (GOVERD+HERD) in total governmental GERD data decreased fromRead More →
Accordance with German accounting regulations The obligation to prepare consolidated financial statements in accordance with German accounting regulations exists even if the German parent company is itself the subsidiary of a foreign group of companies (sub-group financial statement). However, there are signifcant exceptions to this rule. The German parent companyRead More →
Enhanced the intensity of on-site supervision The authorities have also enhanced the intensity of on-site supervision of banks through an increase in the number of inspections (from 283 in 2011 to 330 in 2013). While most inspections last between two and six weeks, the duration varies depending mainly on theRead More →
Traditionally, only one union was active Traditionally, only one union was active in respect of each employer. Demarcation disputes between two unions competing for membership were therefore avoided. Agreements reached by the union and the employers’ association were binding in respect of all relevant employees, regardless of union membership, whilstRead More →
Global financial crisis of 2007 Despite the global financial crisis of 2007- 2008 and the scandals that have rocked the investment banking industry ever since, most investment banking clients have stayed with their investment banks and most would still recommend their primary investment banking provider. These are among the findingsRead More →
Analysis of actual government R&D The analysis of actual government R&D expenditure data broken down in the German systematic by funding areas and funding priorities shows a slightly different picture than the GERD data analysis. Although in both sources total government expenditure has constantly increased since 1981; the total GERDRead More →
Inter-company profits and losses must be eliminated Generally, inter-company profts and losses must be eliminated. However, this rule may be waived if sales or services were made or rendered on customary market terms and the calculation of inter-company profts or losses would cause unreasonable ex- pense. If this exception isRead More →
One union for each major sector of industry The second, or external, level of employee representation is through the trade unions. Generally, there is one union for each major sector of industry, mirrored by a corresponding employers’ association. The two sides represent employees and employers in the regularly recurring industry-wideRead More →
Enhance on-site supervision of banks On-site supervision: BaFin and the Bundesbank have taken important steps to enhance on- site supervision of banks by: (1) improving the level of technical expertise and “know-how” among staff; and (2) increasing the number of supervisory staff in both institutions. The supervision of IT risksRead More →
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