On Nov. 26, GE Tax issued repeal of income tax provision in reporting.
GE Tax reported repeal of statutory reporting under, Electronic Reporting of Foreign Capital or Pension Insurance Policies s. 45d Abs. 3 Income Tax Act (act or EStG).
Discontinuation of Reporting Provision
In relation to adoption of 4th Bureaucracy Reduction Act, statutory reporting obligation s. 45d para. 3 of act was repealed and would apply for the last time by expiry date.
Applies to insurance contracts concluded before Jan. 1, 2025, and GE Tax advises that before repeal date, Jan. 1, 2025, automated data evaluation will no longer take place.
Therefore, transmission to tax authorities is not necessary with immediate effect.
GE Tax will not object if reports for the reporting year 2024 and any correction and/or cancellation reports for earlier periods are no longer submitted.
Those involved in the procedure are welcome to inform EMAKORV department that they do not wish to receive any further data, so that certain process is deactivated.
As such, registration numbers and access to GE Tax online portal (BOP) for the EMAKORV specialist procedure can be deactivated at this point in time.
In all other cases, deactivation will take place officially after Feb. 28, 2025, which is expiry of the statutory reporting deadline, Section 93c Paragraph 1 AO.
