On 03.06.2020 the Corona economic stimulus package was presented to the German government. A central point was the reduction of the value added tax or sales tax from the previous 19% to 16% in the future and for the reduced rate from 7% to 5% - for the next six months. On 01.07.2020 this change has now come into force.
Many companies were thus forced to deal with the implementation at short notice in order to maintain smooth day-to-day business.
TSO-DATA provided support immediately after the measures were announced. Tools were available in the form of an online seminar, various instructions and checklists, which enabled companies to quickly find out about the necessary steps. In some cases, our customers were thus able to carry out the changeover of the VAT rate in the system successfully on their own. TSO-DATA was also able to facilitate the changeover for customers with branch business and corresponding cash register solutions without any problems and in good time, so that the customers have been able to benefit from the reduced VAT rate since 01.07.
Now that the companies have successfully met the requirements for the reduced VAT phase in the shortest possible time, it is to be hoped that the measure will have the desired effect.
The renewed adjustment of the VAT rate as of 01.01.2021 can certainly be approached more relaxed after the positive experiences with the current changeover and a longer lead time - we will keep you informed about this: