Because of the corona virus, the government has decided to provide tax breaks. If you are affected by the crisis, you can benefit from the changes.
- The government has passed tax breaks .
- The reason for this is the spread of the corona virus in Germany.
- Entrepreneurs and the self-employed in particular benefit from this.
If you are currently preparing your tax return , you should first inquire which new regulations apply due to the coronavirus pandemic . In addition to extensive state aid packages, the government has also decided to grant tax breaks to help those who are particularly affected by the current events.
Entrepreneurs and self-employed in particular have advantages if they can prove that their work is affected by the crisis.
Extension of deadline for advance sales tax returns and income tax returns
The corona virus * affects the everyday life of many people. The working life of countless people is now also affected, which is why the government is trying to protect small businesses, in particular, with aid packages * and tax breaks . For any tax relief that you apply for, however, it is important to specifically explain to the tax office to what extent the corona virus has a negative impact on you and your work. Otherwise, you will not be allowed the benefits.
As the Federal Ministry of Finance explains in a letter, the tax offices have been instructed to process applications for tax relief as quickly as possible. Accordingly, you should be able to expect early feedback.
But what specific relief has been decided? Affected entrepreneurs and the self-employed can apply for an extension if they cannot submit their VAT returns and income tax returns by April 10th. In Hesse and North Rhine-Westphalia, the levy is due on May 11, 2020 , and in Bavaria not later than June 10, 2020 . It can be assumed that other federal states will draw up similar regulations. Incidentally, the deadline extension also applies if your tax advisor is affected by the coronavirus crisis .
Read also : Tax return 2020 - Make sure to claim these special expenses.
Tax-free premiums and more: These changes now also apply
You should have submitted the 2018 tax returns * no later than July 31, 2019, or by the end of 2019 if you hire a tax advisor. However, a special rule also applies here: If the submission has been delayed due to the corona virus, you should definitely explain the reasons to your clerk. In the ideal case, no penalty payment is imposed and no assessment notices are threatened.
And there is another innovation: Finance Minister Olaf Scholz (SPD) has announced that taxation of bonus payments of up to 1,500 euros will be suspended . Previously, according to the German Press Agency, several companies had decided to reward employees who work hard during the coronavirus crisis with bonuses. The government therefore wants to accommodate the workers. Scholz cited nurses, cashiers in the supermarket, doctors in hospitals and truck drivers as examples of such professions.
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* merkur.de is part of the nationwide central Ippen editorial network.