The German Ministry of Finance April 24 posted online Letter No. 2020/0414862, announcing a flat-rate reduction for advance payments made for the 2019 tax period, due to the coronavirus pandemic. The announcement includes: 1) the requirement for taxpayers to apply for the reduction; 2) a flat-rate loss carry-back allowance from 2020 for individual and corporate taxpayers; 3) a 15 percent flat rate reduction of income previously used for 2019 prepayments; and 4) the recalculation of 2019 advance payments and the reimbursement of the difference after offsetting tax arrears. [Germany, Ministry of Finance, 04/24/20]
Reference:
View BMF Letter No.2020/0414862. View ...
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