The Islandic erupting volcano and the resulting grounding of flights pressure the 27 EU-States. The “regional” Sky is still a tentatively watched point of national interest. At least the EU member states were finally able to agree on the three-zones model by the European flight control agency Eurocontrol and the volcanic ash institution VAAC. Eyjafjallajökull is continuously spewing forth ash clouds – the last previous eruption lasting for two years – forcing airports and airlines alike to get used to spontaneously closed air traffic. Passengers would be advised to not only inform themselves about the position of the ash cloud, but also about their rights. Continue →

The controlling influence of the German fiscal offices over a taxpayer´s financial situation is getting more efficient with every day. Additionally, the amendments of various Double Taxation Agreements as well as agreements on the the purchase of Liechtenstein and Swiss data cd´s

Therefore, some German tax payers may think about using the instrument of voluntary disclosure to the tax offices – which will guarantee an exemption from punishment, but might just get very expensive. The interest rate on evaded taxes amounts to 0,5% per month of evasion, or 6% a year. The period for the calculation of interest begins at the date of the former tax assessment missing the now disclosed capital yield and ends on the day the back taxes are paid. Continue →

In 2009, the Citizen Relief Act amended the so-called Mantelkauf regulation which places various restrictions on the use of loss carry-forwards of companies acquired in share-purchase arrangements. The amendment to the regulation implemented a restructuring exception, initially valid for two years, which was intended to ease the restrictions in order to facilitate company restructurings during the current economic crisis. Continue →