proALPHA News

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proALPHA News

proALPHA News
Important Information for Accounting Regarding the
Turn of the Year 2015/2016
Table of Contents
Table of Contents
1.
Introduction ................................................................................................................................................. 2
2.
Germany
3.
4.
2.1
Sales Tax ............................................................................................................................................................ 2
2.2
German BilRUG (Law to Implement Accounting Directives) ........................................................ 3
2.3
IBAN .................................................................................................................................................................... 5
Austria
6.
.................................................................................................................................................. 6
3.1
Sales Tax ............................................................................................................................................................ 6
3.2
Advance Sales Tax Return .......................................................................................................................... 7
3.3
XML Export .....................................................................................................................................................10
Italy
4.1
5.
............................................................................................................................................. 2
...................................................................................................................................................... 11
Investment Promotion through Increased Depreciation Allowance .......................................11
Hungary
............................................................................................................................................ 12
5.1
Sales Tax ..........................................................................................................................................................12
5.2
Exporting Accounts Receivable..............................................................................................................12
Disclaimer ................................................................................................................................................... 13
2015 proALPHA Business Solutions GmbH
proALPHA informs - Regulatory changes in accounting.docx - 17.12.2015
Accounting Product Management
Page 1 (13)
Introduction
1. Introduction
This document provides information about relevant changes in accounting which take effect as of
2016. Each chapter deals with a different country. The following countries are concerned:

Germany

Austria

Italy

Hungary
2. Germany
2.1
Sales Tax
Since 2005, sales tax returns and advance sales tax returns have to be processed electronically with
ELSTER. Software providers can automatically create these returns in the respective system by using
the Elster Rich Client (EriC) library. Structural modifications have been made here, which are
contained in the year-end update in proALPHA. Installing the update is a requirement to
electronically transmit the advance sales tax return and VAT information exchange report for 2016
and the sales tax return for 2015.
Moreover, new tax rates apply in the following countries as of January 01, 2016:

Austria: The reduced tax rate will be increased from 10% to 13% for certain sales (e.g.
generated from domestic flights, entrance fees for cinemas and swimming pools); the tax
rate of 12 % will be removed.

Norway: The reduced tax rate will be increased from 8 % to 10 %.

Romania: The standard tax rate will be reduced from 24 % to 20 %.
In France, the tax threshold for mail order selling will be reduced from EUR 100,000 to EUR 35,000
at the turn of the year.
What you need to do in proALPHA:

Configure new tax codes if your company is registered for sales tax.

Assign the new tax codes to the respective G/L accounts.

Adjust the revenue and purchasing groups concerned.

Adjust the tax threshold for France.
proALPHA informs - Regulatory changes in accounting.docx - 17.12.2015 15:25
Page 2 (13)
Germany
2.2
German BilRUG (Law to Implement Accounting Directives)
The EU directive 2013/34/EU was implemented in German law with BilRUG on July 17, 2015. BilRUG
is again a major change to commercial laws and part of the initiative to harmonize the European
legal framework by making annual reports and financial statements provided by company groups
comparable throughout Europe. BilRUG has a significant impact on balancing and reporting. The
changes apply to annual reports after December 31, 2015, and have three major effects:

Monetary threshold values are increased, and sales revenues are redefined.

Various documentation and disclosure requirements will be specified more clearly and
extended.

Corporate disclosure will include a report on payments to authorities.
For individual financial statements, the threshold values of size classes for corporations will be
increased. The following table shows the new thresholds as per section 267 of German HGB:
Size Classes for
Corporations
Smallest
Small
Medium
Large
Balance Sheet Total
€k
Sales Revenues €k
Previous
Previous
Now
Now
Number of
Employees
Previous
Now
350
350
700
700
10
10
4.840
6.000
9.680
12.000
50
50
19.250
20.000
38.500
40.000
250
250
>19,250
>20,000
>38,500
>40,000
>250
>250
As before, the data of two successive fiscal years are required to define the size class. Two out of
three features have to apply (section 267, paragraph 4 of German HGB). Initially, companies were to
be given the right to choose whether they wanted to apply the new size classes to their commercial
annual reports as of 2014 retrospectively. However, this would have caused problems with the ebalance, which is why this right of choice was not given.
While the new thresholds for corporations are likely to have only little effect in practice, the
redefinition of sales revenues presents a major challenge: Section 277, paragraph 1 of the new
version of German HGB now stipulates the following according to German BilRUG:
The following have to be classified as sales revenues: revenues from
selling, renting and leasing products as well as from services provided by
the corporation after revenue reductions, sales tax and other tax directly
related to sales have been deducted.
Page 3 (13)
Germany
As a result, deliveries and services rendered are no longer classified as "ordinary business".
According to the new definition, the following business transactions belong to sales revenues:

Sale of products (fixed assets excluded  other operating income)

Earnings from rentals and leases

Provision of services
The structure of the profit and loss statement according to section 275 of German HGB will also be
changed. The items of extraordinary earnings and extraordinary expenses as well as
extraordinary income will be removed.
Size Classes for
Corporations
Balance Sheet Total
€k
Sales Revenues €k
Previous
Previous
Smallest
Small
Medium
Large
Now
Now
Number of
Employees
Previous
350
350
700
700
10
10
4.840
6.000
9.680
12.000
50
50
19.250
20.000
38.500
40.000
250
250
>19,250
>20,000
>38,500
>40,000
>250
>250

Configure new revenue accounts for the accounts used so far for extraordinary expenses
and earnings.

Alternatively: Rename the account descriptions used so far.

Define new analyses and assign the new revenue accounts to the respective analyses (P&L,
MgA, etc.)

Alternatively: Regroup the revenue accounts used so far in new analyses for comparisons to
previous years.
The law also places new demands on larger companies with respect to reporting and notes to
financial statements. To comply with BilRUG, several steps need to be taken. The most important
changes are listed in the following:

The currency conversion as per section 284, paragraph 2, number 2 of German HGB no
longer needs to be specified.

Now
More details are required in fixed asset analyses: In addition to the data provided up to
now, changes in depreciation related to acquisitions, disposals and transfer postings have
Page 4 (13)
Germany
to be specified as an amount. Moreover, it has to be specified for each fixed asset how
interest for outside capital was included in the manufacturing costs of the fiscal year
(section 284, paragraph 3 of the new version of German HGB).

Sales revenues have to be divided by activities and geographical markets if these differ
greatly with respect to the organization of selling, renting and leasing products and of
providing services by the corporation (section 285, number 4 of the new version of German
HGB).

Taxes on extraordinary income do not have to be specified (section 285, number 6 of
German HGB).

The period over which purchased goodwill is depreciated has to be explained (section 285,
number 13 of the new version of German HGB).

In addition to the data on deferred taxes provided so far, the deferred tax balances at the
end of the fiscal year have to be specified as well as the changes made to these balances in
the balance sheet during the fiscal year if the balance sheet involves deferred tax liabilities
(section 285, number 30 of the new version of German HGB).

The amount and the type of extraordinary revenues and expenses have to be specified and
explained, provided they are not of minor importance (section 285, number 31 of the new
version of German HGB).

Explications of the amount and type of individual expense and revenue items which belong
to another fiscal year have to be specified, provided the amounts are not of minor
importance (section 285, number 32 of the new version of German HGB).
2.3
IBAN
As of February 2016, the IBAN will replace the account number and bank routing number. However,
these numbers will not be omitted completely because they keep being a part of the 22-digit IBAN
in Germany. Since the use of the IBAN is obligatory in the Euro zone, a bank identifier code (BIC) no
longer has to be specified as of February.
Page 5 (13)
Austria
3. Austria
3.1
Sales Tax
The standard tax rate in Austria is 20%. There is also a reduced tax rate of 10% for selected
products as well as a tax rate of 12% for farm gate sales of wine.
As of January 2016, a tax reform will become law:

The tax rate of 12% will be removed.

A new reduced tax rate of 13% will be introduced.

The new tax rate of 13% will apply to certain sales which were subject to the sales tax of
10% before.
The following list contains the most important cases where the new reduced sales tax of 13%
applies:

The shipment, import and personal use of the items listed in lines 1 to 13 of the attachment
2 of the VAT act. These include: live animals such as donkeys, cattle, pigs, sheep, goats,
poultry and others, plants and flowers, residues and waste of the food industry, animal and
vegetable fertilizers as well as firewood, collector's items, and antiques.

As of May 01, 2016, the sales tax of 13% also applies to accommodating persons in
furnished living rooms and bedrooms and to related ancillary services. In case of package
offers, a decree will define the share applied to breakfast, full and half board since this
share is still subject to the reduced tax rate of 10%.

The rental of campsites; with the prerequisite that a uniform usage fee is charged for the
services offered.

Theater plays, musical and choral performances as well as services offered by museums,
provided they are not organized by regional corporations or non-profit organizations.
These services are subject to the new reduced tax rate as of May 01, 2016.

Entrance fee for sport events (the standard tax rate is reduced).

Sales from swimming pools and heat therapy.

Passenger transport by aircraft.

Create new tax accounts, cash discount accounts, write-off accounts, and other for the sales
tax of 13%.

Configure new sales tax and prepaid tax codes for the sales tax of 13% and assign the new
accounts.

Assign the new tax codes in the revenue and expense accounts concerned.

Add the master files for purchasing and revenue groups.
Page 6 (13)
Austria
3.2
Advance Sales Tax Return
Due to these changes to the tax rates, there will be a new form (U-30) for the advance sales tax
return as of 2016. The form encompasses four pages. Modifications of the previous structure are
highlighted in color.
Page 1
Page 7 (13)
Austria
Page 2
Page 3
Page 8 (13)
Austria
Page 4

Update the account assignment for the advance sales tax return.
Scope of the update in proALPHA:

New form U-30 for the advance sales tax return

Use of the new form for checks before a final XML file is generated
Page 9 (13)
Austria
3.3
XML Export
The changes to the sales tax are also reflected in the XML file. The modified structure is in the scope
of the year-end update. The following screenshot shows the proALPHA dialog to create the output
file:
Implementation in proALPHA:

When the calendar year is entered, the XML file is automatically output with the correct
structure.


Calendar year 2015  XML file is created with the structure valid in 2015

Calendar year 2016  XML file is created with the structure valid in 2016
Advance sales tax returns for 2015 and 2016 can thus be created in parallel.
Page 10 (13)
Italy
4. Italy
4.1
Investment Promotion through Increased Depreciation Allowance
One of the most essential features of the Stability Law 2016 is an investment promotion for the
purchase of certain fixed assets. It allows businesses to write-off another 40% in addition to the top
limit of 100% stipulated by law for procurement and manufacturing costs.
The so-called "Super Depreciation", or "Superammortamento", can be used under the following
conditions:

New assets / used assets are exempt from the promotion

Airplanes, power lines, gas pipes, and railroad cars are also exempt

Assets acquired between October 15, 2015 and December 31, 2016

Fixed assets with a depreciation rate of > 6.5 % p. a.

Enable the FAA function "Depreciation Under 0"

Set up a new depreciation method "Superammortamento"

Define a factor for linear depreciation: 1.40

Set up a second level for the finalization
of the depreciation when the
top limit of 140% is reached
Page 11 (13)
Hungary
5. Hungary
5.1
Sales Tax
Good news for Hungary: There are no tax increases for the year 2016. And that's not all: For
accounting, the prerequisites for a so-called simplified year-end closing have been adjusted. The
threshold value for the balance sheet total has been increased from HUF 500m to HUF 1,200m and
the threshold value for sales revenues from HUF 1bn to HUF 2.4bn. The threshold value for the
average number of employees remains 50. To create a simplified annual report, at least two of the
three threshold values mentioned above must not have been exceeded in the last two fiscal years.
5.2
Exporting Accounts Receivable
As of 2016, all software used for the creation of accounts receivable has to feature a function for
exporting all invoices into one XML file. Upon request, the structured export has to be provided to
the National Tax and Customs Office (Nemzeti Adó- és Vámhivatal, or short "NAV") on a data
carrier. This request is usually made during an audit effected by the tax authorities. This way, the
contents of the invoices can be efficiently checked. There is no regular obligation or a fixed
deadline for an XML export to be provided to the tax authorities.
In this respect, the following modifications were made in proALPHA:
The Sales | Invoice menu was given a new menu item: "Adóhatósági ellenőrzés adatszolgáltatás"
("Data Export for Auditor"). In the corresponding option dialog, you can choose the data to be
selected.
Then you can select the directory in which the file is to be stored. The name of the file is
structured in the following way: "NAVDAT" + yy.mm.dd + ".xml".
The file contains the following pieces of information:

Information on the invoicing party and the invoice recipient

Information on the line items of the products/services

Miscellaneous (remarks, payment periods, currency, etc.)

A final list of the totals for determining the tax value, counter value and
determination base.
Page 12 (13)
Disclaimer
6. Disclaimer
This document is intellectual property of proALPHA Business Solutions GmbH. It may not be
disseminated, reproduced, published or used in any other electronic or printed publication without
the prior written consent of proALPHA Business Solutions GmbH. The contents of this document
have been created with utmost care. proALPHA cannot be held liable for the currentness,
correctness and completeness of the information provided, nor for any damage caused due to the
use of these recommendations or for any actions taken on the basis of the information provided.
The information in this document is not binding and does not represent any legal advice nor can it
replace any legal advice.
Page 13 (13)

proALPHA News

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