Vocabulary Flashcards
(110 cards)
1
Q
refund payments of tax
A
Steuervorauszahlung
2
Q
allowance
A
Freibetrag
3
Q
annual financial statement
A
Jahresabschluss
4
Q
anticipated useful life of an asset
A
betriebsgewöhnliche Nutzungsdauer
5
Q
appreciation
A
Wertsteigerung
6
Q
arrears payment of tax
A
Steuernachzahlung
7
Q
assets
A
Aktiva
8
Q
balance sheet profit
A
Bilanzgewinn
9
Q
basic trade income tax assessment notice
A
Gewerbesteuermessbescheid
10
Q
board of directors
A
Vorstand
11
Q
commercial associations
A
Handelsgesellschaften
12
Q
commercial partnerships
A
Personenhandelsgesellschaften
13
Q
constructive dividends
A
verdeckte Gewinnausschüttung
14
Q
Corporate Income Tax
A
Körperschaftssteuer
15
Q
cost of acquisition
A
Anschaffungskosten
16
Q
currents assets
A
Umlaufvermögen
17
Q
deadline for lodging a statement of objection
A
Einspruchsfrist
18
Q
depreciation
A
Abschreibung
19
Q
extraordinary depreciation
A
außerplanmäßige Abschreibung
20
Q
expenses
A
Aufwendungen
21
Q
external field tax auditor
A
Außenprüfer,Betriebsprüfer
22
Q
field tax audit
A
steuerliche Außenprüfung, Betriebsprüfung
23
Q
fixed assets
A
Anlagevermögen
24
Q
fixed legal life of an asset
A
gesetzlich begrenzte Nutzungsdauer
25
general partner
Komplementär
26
general partnership
offene Handelsgesellschaft (OHG)
27
Individual Income Tax
Einkommensteuer
28
Inheritance & Gif Tax
Erbschaftsteuer
29
input VAT
Vorsteuer (jährlich)
30
international business tax law
internationales Steuerrecht (ifrs)
31
legal form of organizaation
Rechtsform
32
limited partner
Kommanditist
33
Limited Partnership
KG
34
Limited Company
GmbH
35
One Person Firm
Einzelkaufmann
36
Stock Corporation
AG
37
objection
Einspruch
38
opening balance
Eröffnungssaldo
39
output VAT
Umsatzsteuer (monatlich)
40
capital yield tax
Kapitalertragsteuer
41
purchases of merchandize
Wareneinkauf
42
Real Estate Tax
Grundsteuer
43
Real Estate Transfer Tax
Grunderwerbsteuer
44
revenue
Erträge
45
reversal of impairment
Wertaufholung
46
sales revenue
Umsatzerlöse
47
straight line depreciation method
lineare Abschreibung
48
supervisory board
Aufsichtsrat
49
tax assessment notice
Steuerbescheid
50
tax base
Steuerbemessungsgrundlage
51
tax refund payment
Steuererstattung
52
tax return
Steuererklärung
53
trade creditors
Verbindlichkeiten aus LuL
54
trade debtors
Forderungen aus LuL
55
Trade Income Tax
Gewerbesteuer
56
TIT assessment notice
Gewerbesteuerbescheid
57
TIT base amount
Gewerbesteuermessbetrag
58
TIT refund claim
Gewerbesteuererstattungsansrpuch
59
Value Added Tax
Umsatzsteuer
60
write down
Abschreibung
61
write up
Zuschreibung
62
year of acquisition
Anschaffungsjahr
63
liable
haftbar/unterliegt
64
stock on hand / stock merchandise
Lagerbestand
65
capital equity
Eigenkapital
66
personal withdrawals
private Entnahmen (Soll)
67
personal deposits
private Einlagen (Haben)
68
bank loan
Bankdarlehen
69
expenses of interest of loans
Zinsaufwendungen für Kredite
70
wage
Lohn
71
salarier
Gehalt
72
expenses of rental from real estate
Mietaufwendungen
73
operating expenses
laufende Aufwendungen
74
fiscal year
Rechnungsjahr
75
cash box account
Kassenkonto
76
transactional taxes
Transaktionssteuern
77
resale on credit
Weiterverkauf auf Kredit
78
Debit
Soll
79
Credit
Haben
80
Invoice
Eingangsrechnung
81
overall tax profit
zu versteuerndes Einkommen
82
careless tax curtailment
leichtfertige Steuerhinterziehung
83
fraudulent tax evasion
betrügerische Steuerhinterziehung
84
imprisonment
Freiheitsstrafe
85
German Commercial Code
HGB
86
def. Fiscal Year
Rechnungsjahr
Das Rechnungsjahr muss innerhalb der ersten 12 Monate gewählt werden in dem man selbständig wird.
87
Private law
- civil law
- commercial law
- company law
88
Public law
- Constitutional law
| - Administrative law
89
What is the deadline for filling a tax return on Income Taxes and VAT?
Deadline for filling tax return >> 31.05 following year
90
Revenue Office determines advance tax payments for Income Taxes by advance tax payment notice. On what basis are advance payments determined by the RO?
Last tax assessment (Letzte Steuerschätzung)
91
VAT must be reported and paid to the RO on monthly basis. What is the due date of the VAT advance tax reports and the self-calculated amounts?
10th of the following month
92
What are the sources of taxable Income (categories)?
- CAT 1: Income from farming & forestry --> no TIT
- CAT 2: Business income of commercial enterprises (as one firm) TIT
- CAT 3: Income from professional services –> no TIT
- CAT 4: Income from employment
- CAT 5: Income from capital investments
- CAT 6: Income from rental of property
- CAT 7: Income from certain miscellaneous items
93
Categories of Income
- Self-employed business-activity-based income
--> CAT 1 + CAT 2 + CAT 3
all categories are liable to IIT. Only category 2 is liable to TIT
- Non-business-activity based income sources
--> CAT 4 + CAT 5 + CAT 6 + CAT 7
94
The total amount of value added
= last net sale price = price exklusive VAT (WERTSCHÖPFUNG)
95
Unlimited Income tax
Persons with domicile or habitual abode in Germany are subject to unlimited income tax liability with their world income.
96
Limited Income tax
Individuals with neither residence nor habitual abode in Germany may be subject to limited income tax liability if they earn income in Germany.
97
def. Real Estate Transfer Tax
Grunderwerbsteuer
| Wird auf dem Erwerb von Grundstücke erhoben.
98
def. Real estate Tax
Steuer auf das Eigentum
99
TIT base amount
```
Preliminary Balance Sheet profit
(Falls nicht gegeben dann: Sales Revenue – (Expenses + Purchase of Merchandise)
+ Salaries
+ Expenses from payments of TIT
=overall tax profit
+100% of interest payable on loans
+50% of rent paid
= gross amount of TIT
-TIT additional Allowance (100.000 €)
= intermediate amount of TIT
X TIT Add Factor (25%)
=Net amount of Additions
- 1,2% ratable value of real estate (determined by R/O)
= gross TIT profit (overall tax income – specific TIT reductions + net amount of additions)
- TIT Allowance (24.500 €) not for corporations
= Net Trade Income Tax Profit
X 3,5% TIT profit factor
= trade Income tax-base amount
X Municipal TIT rate (over 200%)
= TIT liability
- advance payments
= refund claim / arrears payment
```
Merke:
(+) Tax refund payment = Steuererstattung
(-) Tax arrears payment = Steuernachzahlung
100
TIT Final B/S Profit
Partnership and One Person Firm:
Prelim. B/S profit
+TIT refund or - TIT arrears
= Final B/S Profit
```
Corporation
Prelim. B/S profit
-/+ Soli
-/+ CIT (berechneter)
-/+ TIT (berechneter)
= Final B/S profit
```
101
CIT base amount
```
Preliminary Balance Sheet Profit
+ Expenses CIT
+ Expenses TIT
+ Expenses Soli
+ 50% payments to members of supervisory board
+ Expenses constructive dividends
- 95% of dividends received from another corporation
= Taxable Corporate Income (( Basis for TIT))
X CIT rate 15%
= CIT liability
- CIT advance payments
= refund claim / arrears payments
```
Final Balance Sheet (B/S)
Preliminary B/S profit
+ CIT arrears payment / liability
= Final B/S profit
102
Soli
CIT liability x Solidarity Surcharge rate 5,5%
103
other operating expenses
sonst. betrieblichen Aufwand (253HGB)
104
other operating income
sonst. betrieblichen Erträge (253 HGB)
105
Tax Liability
Steuerschuld
106
balance sheet value
Bilanzwert
107
Attributed up to amortized cost
Zuschreibung erfolgt bis zu den fortgeführten Anschaffungskosten
108
Unrealized gains can not be recognized (§252 GCC)
noch nicht realisierte Gewinne können nicht bilanziert werden (252 HGB)
109
Losses must be booked immediately (§252 GCC) Unscheduled depreciation must be made and recorded as other operating expenses
(§253 GCC)
Verluste müssen sofort eingebucht werden(253HGB) Eine außerplanmäßige Abschreibung muss erfolgen und als sonstig betrieblichen Aufwand verbucht werden (252 HGB)
110
balance
saldo
