Every company and many private individuals are required to file their tax return(s) once a year.
There are many tax regulations to be observed when doing so. For example, associations and corporations (GmbH, AG, etc.) are required to prepare corporation, trade and VAT returns annually. Any income as well as any tax-relevant turnover must be presented and properly recorded therein for the purposes of corporation tax and trade tax. Any errors made in this context may result in steep tax back payments.
The tax return obligation is no less complicated for partnerships. For example, regular self-assessment returns must be prepared in addition to the trade tax and sales tax returns. The self-assessment return serves to correctly determine the company's income and the distribution of that income to the individual shareholder.
Often, however, private individuals are also required to submit income tax returns. For example, this is the case for sole proprietors, but invariably also for individuals who earned an income of over EUR 410.00 per year, provided that this amount was not subject to pay-as-you-earn income tax. However, there are also many other regulations which may create an obligation to pay tax.
In order to avoid costly mistakes or unnecessary queries from the tax authorities, it is advisable to refer the task of tax return preparation into experienced hands. We will also be happy to provide you with these services.