In order to strengthen domestic demand in Germany, the VAT rate will be reduced from 19 percent to 16 percent and the reduced VAT rate from currently 7 percent to 5 percent for a limited period from 1 July 2020 to 31 December 2020
The current outbreak of COVID-19 – commonly known as Coronavirus – and its consequences are putting a major financial strain on employers. Many companies have had to close branches, are suffering from a decline in business activity or find themselves unable to operate. Matters of employment and payment are uncertain. Therefore, this article is meant to answer important questions regarding the legal situation in Germany and to show ways in which employers can manage the situation. The most important instrument for companies is the possibility of short-time-work compensation (Kurzarbeitergeld).
SCHOMERUS: Knowledge is the basis of our work, thinking our claim.
For us, thinking means thinking with our customers about their concerns, but more than that it means networked, interdisciplinary, strategic and multidisciplinary thinking. It means scrutinizing facts with a critical eye and taking into account all aspects of relevance to corporate and managerial decision-making.
Across Germany – and around the world.
Schomerus has been a member of HLB Germany, a network of separate, independent tax advice and auditing companies, since 1972. The work of the individual partners in the HLB offices is characterised by highly consistent quality and continuity as well as a close relationship between the partner and his clients. With this philosophy each HLB office is ideally suited to be a contact for medium-sized companies. The client structure includes industrial, trading and service companies of all sizes and legal forms from the most varied of industries. Our clients include internationally active groups, listed companies, municipal companies, foundations as well as charities and high-worth individuals. Each HLB office provides all the services of a professional tax advice and auditing company including audit-related advice – depending on the task either on its own or with the support of a national or international partner Company.
Via our network partners we have access to the experience, expertise and know-how of 21 member-companies in more than 35 offices. In all, 207 partners and more than 1,400 professionals and employees deal with the concerns of mainly SME clients. In 2016, HLB Deutschland ranks third among the top ten of the networks/alliances with independent member firms located in Germany.
Especially in the SME sector, complex issues with international ramifications require country-specific knowledge of local conditions and collaboration with highly qualified colleagues all over the world – global care. We can be sure of providing it as a member of HLBI, HLB’s international network with 480 offices in over 100 countries and thus a presence in all major business centres around the globe.
Aware of the past, sights set on the future.
Founded in 1924 as Hamburger Treuhand Gesellschaft, Schomerus was an early adopter in making contact with other auditing companies and joining forces for growth. Since 2004 we have offered our auditing and accounting services, as well as our legal advice, tax consultancy and business consultancy services under the Schomerus brand name.
Today, Schomerus comprises five companies that are active in auditing, business law, tax consultancy and management consultancy.
For us, tradition means passing on the embers and not the ashes. From this understanding of our role we have developed into a leading provider of auditing, legal and tax consultancy services in northern Germany with a focus on the Hamburg metropolitan Region.