Attention craft businesses: New law brings important relief!

Attention craft businesses: New law brings important relief!

From January 1, 2025, the fourth bureaucracy relief law (BEG IV) comes into force, which brings with it a variety of relief for craft businesses and companies. The retention period for booking documents in tax and commercial law is shortened from ten to eight years, while trade letters only have to be kept for six years. This applies not only to new documents, but also invoices whose retention periods have not yet expired on December 31, 2024, such as The HWK Halle reported .

changes in tax assessments and powers of attorney

In addition, the announcement of tax notices is facilitated. From 2026, the recipient's consent is no longer necessary, instead a right to object comes into play. A central power of attorney database enables employers to electronically provide their tax advisors, whereby numerous written powers of powers are eliminated, such as buzer.de reported .

Other important changes concern the VAT law, where from 2025 the threshold for the VAT advance registration from EUR 7,500 will be increased to EUR 9,000. Companies that do not exceed this value only have to submit their pre -registrations quarterly. These extensive reforms aim at simplified administration and faster processing times and should benefit small and medium -sized companies in particular.