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Together Stronger than Before -- Benefits for Companies Benefits for companies
 

Reduction of VAT to 5 percent

In the gastronomy and hotel industry, in the cultural sector and in the publication sector, a VAT rate in the amount of 5% applies for a limited period from 1.7.2020 to 31.12.2020. This includes the following sales: Food and drink, accommodation and camping, revenue from artists’ activities, theatrical performances, musical and singing performances, cinema shows, visits to museums, botanical gardens, zoos or nature parks, revenue from the operation of swimming pools, thermal treatments, circuses, show business, admission to sporting events, sales of newspapers, books, etc.

Fixed-cost subsidy

The subsidy to cover fixed costs is up to 75% of the fixed costs and can be applied for via FinanzOnline.

Tax relief through loss distribution

Duly determined losses not compensated for in the determination of the total amount of income in the course of the assessment for 2020 may be deducted from the total amount of income before special expenses and extraordinary burdens by way of a separate application in the course of the assessment for 2019 up to an amount of € 5 million.

If and insofar as a deduction is not possible under the 2019 assessment, it may be requested that this part be taken into account under the 2018 assessment, subject to certain restrictions defined by way of ordinance.