Every tax return is based on the tax documents of the custodian. Even after the implementation of the payment tax in Germany (“Abgeltungsteuer”) tax documents prepared by German custodians often offer no sufficient information when it comes to preparing tax returns for wealthy individuals or institutions with complex investment structures. Thus, in many cases, proper information about results from currency trades or financial instruments is absent. Especially, tax data delivered by non-domestic custodians need to be revised before filing a German tax return.
Hence, we consider it as one of our major tasks to take care, already in the approach of the preparation of the tax return, that all necessary tax information is complete and accurate. Moreover, we do a lot of reconciliation work in regard to the documents of the custodians by comparing them with the tax results generated in your financial accounting.