REPORTING REGULATIONS IN FOREIGN TRADE

According to the Foreign Trade Act (AWG), payments by non-residents or to residents on their behalf must be reported by the residents. Payments by residents to non-residents are also to be reported by residents.

• Payments that do not exceed EUR 12,500 or whose equivalent does not exceed EUR 12,500 (splitting into several partial amounts to circumvent the reporting obligation is not permitted)
• Payments for the import or export of goods, as these are already recorded in the export declarations or customs declarations;
• Payments for short-term loans with a term of no more than 12 months, as these are repaid within one year and therefore do not affect the annual statistics or would unnecessarily distort them. Overnight deposits or fixed-term deposits with a term of up to one year that are invested by residents with foreign banks, including their repayment, are also not subject to reporting.
• Payments in this context means not only the movement of money, but also the offsetting and offsetting of amounts, as well as the bringing in of property and rights in companies, branches and permanent establishments.