- As of January 1, 2025, Germany will reduce the retention period for invoices from ten years to eight years, following the amendments in the Fourth Bureaucracy Reduction Act and the Annual Tax Act 2024.
- Small businesses will be exempt from issuing EN-compliant electronic invoices but must still be able to receive them.
- The threshold for small businesses has been increased to an annual turnover of no more than 25,000 EUR for the previous fiscal year and 100,000 EUR for the current fiscal year.
- The retention period for other documents, such as commercial books, inventories, and annual financial statements, will remain ten years despite the changes to invoice retention.
Source Pagero
Latest Posts in "Germany"
- Input Tax Deduction under § 15 UStG: Key Issues in 25 Exam-Relevant Cases Plus Mini Exam
- New BMF Letter Clarifies VAT Rules for Company Cars Used Privately by Employees
- Germany Prepares XRechnung 4.0 for EU-Compliant E-Invoicing and Digital VAT Reporting by 2030
- Germany Mulls VAT Hike to 21% Paired With Income Tax Cuts and Grocery Relief
- Six Charged in Germany’s ‘Water into Wine’ VAT Fraud Case Involving Diesel Sales
