Registration.

Founding a company and starting business in Germany you will have to register at several authorities to get the permissions and licenses you might need. Cosmotax GmbH will help to organize all information and documents in time and will guide you through that bureaucratic jungle to put you in the position to focus you on your business.

VAT registration.

Cosmotax offers to you to

  • Check your specific situation if you have to register for VAT in Germany
  • Collect all necessary information and documents to apply for VAT
  • Handles all correspondence with tax office
  • Prepares and submits all necessary VAT declarations and EC sales lists to tax authorities

Email or call our specialist for a free first analysis of your case. We will find the best solution for your company.

Book keeping – Reporting.

We usually prepare our bookkeeping on Germany’s leading accounting quality software Datev. For some multinational clients, we prepare the bookkeeping on client’s accounting software.

We can record in

  • German
  • English or
  • Russian

language. Based on client’s requirements and often based on required frequency of VAT report filing) the bookkeeping is done once a year, quarterly, monthly or even daily.

Bookkeeping is done according to German statutory requirements and client’s need. Speak to our team and we will customize the bookkeeping / reporting to your needs, including extra reports like e.g.

  • Fixed asset schedules
  • Open item lists for debtors and creditors
  • Aging lists for debtor and creditors
  • Inventory stock reports

Payroll accounting.

We advise our clients how to design the complete payroll process to achieve the best benefit for both sides, employer and employees. We will help the employer to reduce its costs and time spent on payroll process and the employee how to get the best outcome (e.g. by consulting concerning tax free payments). No matter if you have one employee or many hundreds, we will design an efficient payroll process for your needs

We offer to take care for all accompanying requirements like

  • payroll tax audits
  • company cars
  • bonus programs
  • retirement benefits
  • compensation payments

Preparation of financial statements.

German companies usually have to prepare once a year a financial statement, including balance sheet, income statement, notes and also year end corporate and VAT tax declaration. German accounting law HGB and tax requirements have to be considered. It is possible to make either a reconciliation from German GAAP (generally accepted accounting principles) to your local GAAP or vice versa. If you use a licensed accounting firm like Cosmotax GmbH, you usually have an extended deadline of 12 months after balance sheet day to file the accounts.

Tax declarations.

On year end threes standard tax declarations have to be prepared by a GmbH company:

  • Corporate tax I ( Körperschaftsteuererklärung )
  • Corporate tax 2 ( Gewerbesteuererklärung )
  • VAT year end tax declaration (Umsatzsteuererklärung )

The sum of corporate tax declarations I and II usually result in a taxation of circa 33% of taxable profit per year. Cosmotax will help you to minimize tax burden in Germany.

We know many methods to reduce your tax e.g. by transfer pricing or tax losses transfer between different periods.