Information and updates on taxonomies 6.1

General updates

  • Taxonomy 6.1 – Audit report pursuant to Section 321 of the German Commercial Code (HGB)
     From Taxonomy 6.1 onwards, the content of the audit report in accordance with section 321 of the German Commercial Code (HGB) may also be submitted (on a voluntary basis) as a footnote in the notes to the financial statements.
  • Taxonomy 6.1 – Extension of the minimum scope
    The scope of the minimum requirements was further expanded with the release of Taxonomy 6.1 at the end of May 2017. For example, information relating to Section 7g of the Income Tax Act (EStG) is now required in accordance with the reporting obligations set out in Section 7g(1)(2) of the EStG (as amended) following the Federal Ministry of Finance (BMF) letter of 20 March 2017. The GCD master data has also been expanded to include new mandatory fields; amongst other things, the „Business activity“ field, which was previously optional, is now mandatory. The information to be reported here is the same as that used in the trade tax return under „Type of business“.
  • Taxonomy 6.1 – New report components
    The taxonomy has been expanded to include further report components:
    • Preparation of the statement of changes in equity in accordance with DRS 22 for both the standalone and consolidated financial statements.
    • Non-financial report pursuant to the Act Implementing the CSR Directive

Taxonomy 6.1 – heightened requirements regarding technical plausibility

Taxonomy 6.1 introduces new technical validation rules. For example, the following balance sheet relationships are checked:

  • In the case of corporations, profit distributions made during the financial year are reconciled with the balance sheet and the appropriation of profits
  • Items in the statement of changes in fixed assets must correspond to the balance sheet items
  • Information relating to the calculation of taxable profit in tax assessment proceedings is requested in a manner consistent with the calculation of taxable profit
  • Revision of the calculation rules for the “carry-forward of profits for foundations and associations“
  •  The identifier “not permitted under commercial law” has been reactivated for various items
  • Label: „Not permitted for submission to the tax authorities“
  • Inclusion of certain items from the corporation tax forms to optimise processes through extended use of the taxonomy within the tax return framework

CTA Box E-Balance Sheet

Taxonomy 6.1 – Return transmission of e-balance sheets

The provisions amended by the tax authorities E-balance sheets are to be made available for data retrieval. In Taxonomy 6.1, placeholders are already provided in the GCD master data to indicate when the e-balance sheet has been returned by the tax office. The explanatory note states: This field is only set in the event of a change and resubmission by the tax authorities. In future, e-balance sheets are to be available for data retrieval. In the first stage, the data is to be provided as a tax balance sheet in all cases and only where changes have been made. Overall, however, there is still a need for coordination regarding the method of data transmission, and there is a lack of nationally standardised guidelines at the state level concerning the methodology for tax audits.