Store furnishings or expense?
February 7, 2015 | 25,00 EUR | answered by Anton Pernitschka
Information on the trade: Retail trade in clothing, cash accounting, SKR03.
How to correctly book an invoice for clothes hangers (net amount 300.00€, unit price 0.57€)?
Clothes hangers are used for merchandise display on the clothing rack (low-value asset under 150€ acquisition costs) and wall system (over 1000€ acquisition costs).
What corrections in the accounting for previous years are permissible? (Income tax, VAT declaration already filed)
Dear inquirer,
In the context of an initial consultation and your fee commitment, while considering the regulations of this forum, I would like to answer your question.
In the case of low-value assets, it must be ensured through the determination of the valuation unit that uniform assets are not impermissibly split into a large number of low-value and therefore immediately depreciable assets.
However, clothes hangers are assets that are capable of independent valuation and use. They are immediately deductible according to § 6 para. 2 EStG.
Your last question could be understood as whether previous years can be corrected due to the previously capitalized acquisition costs for the clothes hangers.
If you are a commercial trader preparing financial statements, a change to the balance sheet according to § 4 para. 2 sentence 2 EStG is generally prohibited. An exception is allowed if it is closely related in terms of time and content to a correction of the balance sheet. The facts do not provide any further details on this.
These principles do not apply to the simplified profit and loss statement. Tax assessments could be corrected if they have not yet become legally binding.
The response was based on your description of the situation. Missing or incorrect information about the actual circumstances can affect the legal outcome.
Best regards,
Anton Pernitschka
Tax advisor
