Kategorie: Politics Law Society

BFH rules on recognition of stock losses for tax purposes Losses from shares in companies facing insolvency can be claimed against tax from the point in time when the shares are written off the securities account. That was the verdict of the Bundesfinanzhof (BFH), Germany”s Federal Fiscal Court (Az.: VIII R 20/18). The Bundesfinanzhof has delivered an important ruling on losses from shares in companies facing insolvency. We at the commercial law firm MTR Rechtsanwälte can report that, according to the court”s judgment from November 17, 2020, if the bank…

Finanzgericht Düsseldorf: No tax exemption for flat-rate bonuses Bonuses for night work and working on Sundays are only tax exempt if they are awarded on an individual and not a flat-rate basis. That was the verdict of the Finanzgericht (FG) Düsseldorf – the Fiscal court of Düsseldorf – in a judgment from November 27, 2020. Those who work nights or on Sundays and holidays are often rewarded with bonuses from their employer. However, according to a ruling of the Finanzgericht Düsseldorf from November 27, 2020, it is important to make…

Indications of origin: Black Forest ham need not be sliced in the Black Forest Black Forest ham (Schwarzwälder Schinken) may be referred to as such even if it is not sliced and packaged in the Black Forest. That was the verdict of the Bundesgerichtshof (BGH), Germany”s Federal Supreme Court (Az.: I ZB 72/19). Geographical indications of origin can be protected in a similar manner to trademarks, something which can prove to be particularly important because of consumers associating a certain level of quality with a product”s geographical origin in some…

LAG Düsseldorf: Short-time workers on zero hours do not accumulate vacation leave Short-time working – Kurzarbeit in German – refers to a government scheme that allows businesses experiencing economic difficulties to temporarily reduce their employees” working hours, with the state making up for all or part of the lost wages. Many firms have had recourse to this program for reasons related to COVID-19. The Landesarbeitsgericht (LAG) Düsseldorf – the Regional Labor Court of Düsseldorf – has now ruled that short-time work also entails a reduced entitlement to vacation leave (Az.…

Greensill Bank: Customers unable to access their money – BaFin orders moratorium The Bundesanstalt für Finanzdienstleistungsaufischt (BaFin) – Germany”s Federal Financial Supervisory Authority – has closed down Greensill Bank”s business operations with its customers and filed criminal charges. Private investors as well as institutional investors and municipalities fear losing their money at the bank. Greensill Bank was acquired by the British-Australian financial conglomerate Greensill Capital in 2014, with the parent company currently experiencing serious economic difficulties. According to media reports, an application for bankruptcy protection has already been submitted a…

BaFin determines that compensation is payable to depositors of insolvent Greensill Bank As was to be expected, the Bundesanstalt für Finanzdienstleistungsaufischt (BaFin) – Germany”s Federal Financial Supervisory Authority – has determined that compensation is payable to Greensill Bank”s depositors, as the bank is no longer able to repay all of its customers” deposits. Insolvency proceedings have also been initiated against the bank with the Amtsgericht Bremen, the District Court of Bremen (508 IN 6/21). After ordering a moratorium on Greensill Bank and freezing the accounts, it was to be expected…