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Accounting Principles / Reporting Requirements

Accounting Principles / Reporting Requirements

Accounting principles under tax law expand on the general accounting obligations (Buchführungspflicht) according to the commercial law (Unternehmensgesetz). Thus all taxpayers subject to the obligation to keep accounts under commercial law are also obliged to keep accounts for tax purposes at the same time.

Corporations have to comply with bookkeeping in accordance with general accounting principles. This also applies to sole proprietors and partnerships that have an annual profit of more than €700,000.

All companies that are not subject to the general accounting obligations can either do a statement of revenues and expenditures (Einnahmen/Ausgaben-Rechnung) or a consolidation into a lump sum (Pauschalierung).

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