Ask a tax advisor on the topic of Annual financial statement

Refund of customs duties

October 8, 2012 | 25,00 EUR | answered by Wirtschaftsprüfer André Hintz

Dear Sir or Madam,

Last month we had a customs audit at our premises. The years 2009, 2010 and 2011 were audited. After the audit was completed, it was revealed that we had overpaid customs duties for 2009-2011, totaling 54,000 euros. We have not yet received an official notification or similar. This amount was only mentioned to us in the closing discussion after the customs audit.

According to our tax advisor, the repayment for the year 2011 must be booked, as the years 2009 and 2010 have already been closed. The amount cannot be booked for 2012 either, as this would only be possible if the tax return for 2011 had already been completed. It would also not make sense to quickly complete the 2011 tax return now, as the customs audit took place before the submission of the 2011 tax return. Especially the year 2011 was very good for us, and if a customs refund of 50,000 euros is added here, we would have to pay a considerable amount of taxes. Therefore, I would like to inquire if the statement of our tax advisor is correct. Just for your information, we operate as a Ltd & Co KG.

Yours faithfully,
C. Müller

Wirtschaftsprüfer André Hintz

Dear inquirer,

I would like to answer your question within the framework of an initial consultation and based on your fee commitment, in accordance with the rules of the online portal. My response is based on the situation you have outlined.

The question is whether the realization of profits occurred in 2011.

According to § 252 of the German Commercial Code (HGB), caution is required in financial reporting. Profits can only be recorded in the balance sheet upon realization. Controversial claims should only be recognized in the fiscal year in which the debtor acknowledges the claim.

Since the customs audit took place in 2012 and the results will only be disclosed to you in 2012, a balance sheet for 2011 would not be permissible. In my opinion, it constitutes a value-establishing result in 2012.

I hope my explanations have been helpful to you and remain

Yours sincerely

André Hintz
Tax Advisor

Steuerberatung@andrehintz.de