Tax advice for the automotive industry and its suppliers
Experience in the supplier industry
The automotive industry and its suppliers are a major pillar of the German economy. Benefitax GmbH is both highly specialized and broadly positioned in terms of its client structure. If you come from the automotive sector, you can rely on our support in fulfilling your tax obligations and receive advice on how to reduce your tax burden and how to make use of accounting and valuation options in order to look good in your annual financial statements. Some well-known automotive suppliers have been relying on our support for years. Others supply the German market with mass-produced items for the automotive industry produced abroad, thus ensuring that prices remain low or even fall.
Experience in the classic car business
You can also benefit from our experience in the classic car business. This includes, in particular, questions as to when activities in connection with classic cars become taxable in Germany (permanent establishments) and when they constitute a hobby or the income is only taxable abroad. When transporting classic cars across the border, it is important to pay close attention to customs and tax regulations in order to avoid unintentionally having to pay tax on hidden reserves or import or export duties.
Torque and traction in all areas of tax consulting in the automotive sector
We offer the following services for the automotive industry, among others:
- VAT issues for the automotive industry, even across borders
- Support during tax audits and enforcement of your rights, including before the tax courts if necessary
- Preparation of expert opinions (e.g. correct VAT treatment of all groups of business transactions, restructuring within a group, cross-border income tax issues)
- Questions of international tax law. Transfer pricing and transfer pricing documentation. Secondment. Transfer of functions.
- Preparation of annual financial statements and tax balance sheets
- Audits and reviews of reporting packages
- Tax structuring advice
- Advice on the planning and implementation of company succession, including consideration of issues relating to gift tax and inheritance tax
- Participation in M&A transactions, in particular company valuation, financial due diligence, tax due diligence.
