Businesses whose “total turnover” in the previous calendar year did not exceed € 500,000
According to current § 20 UStG, businesses whose “total turn-
over” in the previous calendar year did not exceed € 500,000
may pay VAT on the basis of cash receipts (instead of on the reg-
ular basis of performed supplies).
The tax authorities are allowed
to grant this kind of taxation upon receiving the corresponding
application by a business. “Total turnover” includes certain sup-
plies which come under the scope of German VAT law.
EU Forecast
euf:ba.18g:89/nws-01