- German Council approved the 4th Bureaucracy Relief Law on 18th October
- Aim is to alleviate economic pressures and simplify fiscal process
- Reduction in retention period for accounting documents from ten to eight years
- Financial statements, books, records, inventories must be retained for ten years
- New regulation on advance VAT returns starting from 1st January 2025
- Threshold for filing monthly VAT returns increased to 9.000€ of VAT payable
Source: auxadi.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
