KPMG Germany Webpage Click on the above link to visit the KPMG Germany webpage on the Mondaq website For disclaimer and copyright see end of this article.
In a directive dated 24 March 1998 (DB 1998, 700), the Federal Ministry of Finance has stated that invoices showing amounts including VAT in both German marks and in Euro will be acceptable from 1 January 1999 onwards. Such invoices must clearly indicate that the purpose of showing amounts in both currencies is to enable the recipient to remit payment in the currency of his or her choice.
Disclaimer and Copyright
This article treats the subjects covered in condensed form. It is intended to provide a general guide to the subject matter and should not be relied on as a basis for business decisions. Specialist advice must be sought with respect to your individual circumstances. We in particular insist that the tax law and other sources on which the article is based be consulted in the original, whether or not such sources are named in the article. Please note as well that later versions of this article or other articles on related topics may have since appeared on this database or elsewhere and should also be searched for and consulted. While our articles are carefully reviewed, we can accept no responsibility in the event of any inaccuracy or omission. Please note the date of each article and that subsequent related developments are not necessarily reported on in later articles. Any claims nevertheless raised on the basis of this article are subject to German substantive law and, to the extent permissible thereunder, to the exclusive jurisdiction of the courts in Frankfurt am Main, Germany. This article is the intellectual property of KPMG Deutsche Treuhand-Gesellschaft AG (KPMG Germany). Distribution to third persons is prohibited without our express written consent in advance.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Stephen discusses the what, why and where in respect of open book accounting in public sector contracts. He also considers the practical drafting steps when drafting open book clauses in contracts and the possible remedies to include in the drafting.
Credit risk certainly stands as a cornerstone of the banking system. Concerns that counterparties will default on their repayment obligations has become a growing concern over years.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).