Hi,
Indian company is having step down subsidary in Germany as GmbH. Is it need to follow any accounting standard of Germany. If yes plz provide which one.
Also through some light on service tax in Germany.
2 Replies
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 30 December 2010
Service Tax in Germany is 19% and Accounting Standards I asked for it I if i am in a position to get the same i will upload in this forum itself
Vivek Raju P
(Manager)
(614 Points)
Replied 01 January 2011
Germany as a part of the European Union as per the seventh directive of the european parliament is required to follow IFRS for accounting. While i am sure that all the companies which are public limited AG ( Aktiengesellschaft) need to follow this, gmBH are in the nature of private limited companies so not sure but believe that they are also on IFRS.
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