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University

Taxes

The UoC introduces a tax manual and at the same time implements a tax reporting, notification and control system to ensure compliance with tax regulations and to detect errors at an early stage. Tax compliance management is of great importance to the UoC, as it helps to minimize tax and thus ultimately business risks and to avoid payments of tax arrears, late payment penalties, surcharges on overdue payments and interest.

Tax Compliance

Our goal is to be tax compliant, i.e. to fulfil our tax obligations in Germany and abroad in full and on time. Specifically, we pursue the following objectives:

  • avoidance of ancillary tax payments through the timely and complete submission of all relevant tax returns and advance tax returns as well as compliance with payment deadlines, in particular through a professional resubmission and deadline control system;
  • avoiding liability for the management bodies,
  • showing tax planning scope for tax structuring and opening up the possibility of using it (tax strategy) within the framework of what is legally permissible;
  • conducting monthly sample audits on the correctness of invoices in accordance with VAT regulations by the accounting department or the tax section;
  • correct and timely reporting of costs and revenues of commercial operations;
  • complying with wage tax regulations;
  • professional recording and consideration of tax deadlines (e.g. retention periods);
  • proper treasureship and cash register accounting.

Application of Section 2b of the Tax Turnover Act (Umsatzsteuergesetz) postponed to 1 January 2025

The introduction of Section 2b of the Tax Turnover Act and the deletion of Section 2 subsection 3 of the Tax Turnover Act will lead to a fundamental change in the legal tax assessment of juridical persons under public law. The UoC will also postpone the date of implementation to 1 January 2025 at the latest. However, all new circumstances will already be assessed and documented with immediate effect according to the current and future legal situation. Extensive audits of the income and underlying contracts were carried out for this purpose. In future, contracts that are valid beyond 31 December 2022 or are concluded later will be included in a contract catalogue to ensure completeness. For this purpose, all contracts must be submitted without gaps to department 62.3 for the Tax Turnover Act review and inclusion in the contract catalogue.