VAT & Foreign Trade Advisory

Claudia Klisa-Pejcinovic

Tax Advisor, Senior VAT specialist

Since VAT is a transaction based tax and is often automatically processed in a company, an incorrect VAT set up can quickly result in a financial risk but also a personal risk for the managing director. That is why we devote great importance in analyzing the individual business transactions of our clients in advance with regard to VAT risks.

It is important to us that our clients receive an individual and high quality VAT advisory. International trading companies have to comply with foreign trade and payment regulation. Non-compliance will be fined and inspections by customs officers are regularly conducted. We help minimizing the risk.

VAT Registrations

Correspondences with Tax Offices, incl. filing appeals
Preparation of VAT evaluations / opinions and manuals
Conducting of VAT reviews
Preparing VAT manuals for your business transactions
In-house VAT trainings
Filing of monthly / quarterly / annual VAT Returns
Filing of VAT refund claims
Implementation of VAT Compliance Management Systems
Support and management during VAT audits

Our clients and business partners appreciate our quick processing of their requests, high flexibility and easy accessibility. Did you know that we offer all our services in fluent German, English or even Japanese language?

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Who is FRANKUS?

Our interdisciplinary and well-rehearsed teams consisting of Tax Advisors, Lawyers and Public Accountants support every phase of the lifecycle of your company – from the foundation to the liquidation.

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Our Foreign Trade Advisory

Cross-border transaction reports are used for compiling the statistics of payments for the Federal Republic of Germany and the European monetary union. The Foreign Trade and Payments Act (Außenwirtschaftsgesetz, AWG) read in conjunction with section the Foreign Trade and Payments Regulation (Außenwirtschaftsverordnung, AWV), all residents in Germany (individuals and legal entities) have to submit electronic reportings payments of more than €12,500 or the equivalent in another currency in the Z 4 report.
The Z 5 report is to be used for all short and longer-term claims and liabilities arising from financial transactions vis-à-vis foreign banks. Annex Z 5a sheet 1 refers to claims and liabilities arising from financial operations vis-à-vis foreign nonbanks. Reports are to be submitted to the German central bank Deutsche Bundesbank electronically on the last working day of the preceeding month and no later than the twentieth day following the end of the month.
Legal entities and individuals domiciled in Germany (direct investors) that hold a participating interest in a foreign company (direct investment enterprise) of 10% or more are subject to reporting requirements. Likewise, any enterprise domiciled in Germany (direct investment enterprise) in which one or more non-resident investors holds a participating interest of 10% or more is obliged to observe the reporting requirements set out in the Foreign Trade and Payments Act. In both instances, there is a reporting threshold of €3 million (if necessary, converted) in respect of the balance sheet total of the respective participating interest.
FRANKUS supports in complying with these reporting requirements by submitting them on behalf of your company or provide advice in setting up a reporting process in your company.
In the case of inspections by the Customs office regarding compliance with Bundesbank we take care of communication.