Exploiting efficiency reserves On top of this, it is important to seek to achieve a focused improvement in the structural frame- work, eg by exploiting efficiency reserves and giving greater prominence to growth- enhancing expenditure categories. Any sus- tained budgetary leeway available over and above the safety margins could beRead More →
Optimizing the effective tax rate of a group Careful structuring of transfer price arrangements is particularly important for optimizing the effective tax rate of a group and avoiding double taxation as a result of transfer price adjust- ments. The selection of tried and tested options (such as the resale priceRead More →
BaFin has supplemented its current Solvency I supervisory regime Stress testing: BaFin has supplemented its current Solvency I supervisory regime for insurance companies with stress testing requirements. Although this does not lead to explicit capital requirements for asset risks, asset cover stress tests are submitted by approximately 320 direct insuranceRead More →
Public finances remains favourable The setting for German public finances remains favourable; as things currently stand, a surplus and a declining debt ratio are once again on the horizon for the coming year. Given the robust economic and labour market situation, government budgets are profiting from further falling interest expenditure.Read More →
Principles for the Transfer of Functions Principles for the Transfer of Functions, which explain and clarify numerous potentially uncertain cases. It is necessary to document the legal and commercial bases of transfer price arrangements and any other business relationships subject to the arm’s length principle. At the request of theRead More →
GmbH, one or more managing directors (Geschäftsführer) For a GmbH, one or more managing directors (Geschäftsführer) must be appointed as provided for in the articles. This is usually stipulated in the articles, but can also be changed at a later date. Managing directors are allowed to hold an interest inRead More →
Investment banks’ clients It was noted among banks clients that, while investment banks’ clients recognize the expenses that their investment banks are incurring due to increasing regulation, lower commissions and spreads are likely here to stay. EU Forecast euf:b.a18b:34/nws-01Read More →
Bioeconomy strategy funds In the frame of the bioeconomy strategy funds are increasing. The development of the bioeconomy strategy was led by the BMBF; other ministries participated, the BMEL e.g. Is responsible for the political bioeconomy strategy. Currently, an interministerial working group on bioeconomy is supposed to safeguard a commonRead More →
German Growth expected mid 2016 The German economy should continue to grow in the third quarter in line with the robust underlying cyclical upthrust. Despite the low level of new orders received in the second quarter, the mood in German industry has im- proved distinctly. Notwithstanding the intense public discussionRead More →
Special rules apply for so-called base shifting (Funktionsver-lagerungen) Special rules apply for so-called base shifting (Funktionsver- lagerungen), which involves the transfer of business functions, including opportunities, risks, and assets. It is possible to deter- mine individual transfer prices for all components of the transfer package, provided that at least oneRead More →
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