Accounting Amendment Act 2014 - Räg 2014

Original Language Title: Rechnungslegungs-Änderungsgesetz 2014 – RÄG 2014

Read the untranslated law here: https://www.global-regulation.com/law/austria/2994878/rechnungslegungs-nderungsgesetz-2014--rg-2014.html

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22 federal law be changed with the company law book, the German Stock Corporation Act, the companies Act, the cooperative law, the cooperative Auditor Act 1997, SE law, the law on associations and the income tax Act 1988 (Amendment of accounting 2014 - RÄG 2014)

The National Council has decided:

Table of contents



Article 1 amendment of the company law book article 2 change of the Stock Corporation Act article 3 amendment of the GmbH law article 4 amendment to the cooperative act article 5 amendment of cooperative Audit Act article 6 amending SE law article 7 amendment of the Association Act article 8 amendment of the income tax Act 1988 article 1

Change of the company law book

The corporate code – UGB, dRGBl. S. 219/1897, as last amended by Federal Law Gazette I no. 83/2014 (GesbR-RG), is amended as follows:

1. Article 131 is amended as follows:

(a) Z 3 is as follows:



"3. by the final opening of the bankruptcy proceedings against the assets of the society, through the amendment of the designation of reorganisation proceedings in bankruptcy proceedings or by the final not opening or closure of insolvency proceedings due to lack of cost-covering assets;"

(b) Z 5 is as follows:



"5. by the final opening of the bankruptcy proceedings against the assets of a shareholder by the amendment of the designation of reorganisation proceedings in bankruptcy proceedings or by the final not opening or closure of insolvency proceedings due to lack of cost-covering assets;"

1a. in article 189, paragraph 1 the text of no. 2 is section named "3", the Nos. 1 and 2 as follows:



"1. capital companies;

2. partnerships, where a. all direct or indirect shareholders otherwise unlimited is actually only limited be liable, because they either corporations in the sense of annex I of Directive 2013/34/EEC on the annual accounts, the consolidated accounts and thus related reports by company specific legal forms and amending Directive 2006/43/EC of the European Parliament and of the Council and repealing directives 78/660/EEC and 83/349/EEC , OJ No. L 182 of 29 6 2013 S. 19 (in the following: accounts directive), or are companies which are not the law of a Member State of the European Union or of a Contracting State of the agreement on the European economic area, but have a legal form which is comparable to a referred to in annex I of Directive 2013/34/EC; or b. no general partner a natural person and who are in business;"

2. in article 189, paragraph 2 the reference "ABS. 1 Z 2" with the reference "ABS 1 Z 3" and in section 189 subsection 4 reference "ABS 1 Z 1" is replaced by the reference "ABS 1 Z 2".

3. after section 189, 189a the following paragraph with heading shall be inserted:

'Definitions

Article 189a. For the third book, the following definitions shall apply:



1. companies of public interest: a. company, whose transferable securities to trading on a regulated market in a Member State of the European Union or of a Contracting State of the agreement on the European economic area in the sense of article 4 para 1 No. 21 of 2014/65/EC directive on markets in financial instruments, as well as amending Directives 2002/92/EC and 2011/61/EC, OJ No L 173 of the 12 6 2014 S. 349, are approved;

b. corporations, credit institutions in the sense of article 4 para 1 No. 1 of the Regulation (EU) No. 575/2013 on supervision requirements for credit institutions and investment firms and for amending the Regulation (EU) No. 646/2012, OJ No. L 176 of 27 6 2013 S. 1 - with the exception of article 2 paragraph 5 of Directive 2013/36/EC on access to the activity of credit institutions and the supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing directives 2006/48/EC and 2006/49/EC, OJ No L 176 of the 27 6 2013 S. 338, such credit institutions - are;

c. corporations, the insurance companies in the sense of article 2 paragraph 1 of Directive 91/674/EEC on the annual accounts and the consolidated accounts of insurance undertakings, OJ No. L 374 of 31 12 1991 are S. 7, or d. company identified irrespective of their legal form in a federal law with reference to this provision as such.

2. participation: Shares in another company, which are determined through a continuous connection to this company to support own business operations; It is whether the shares in securities are represented or not; It is believed a stake in another company if the share is 20% of the capital is about; Section 244 subsection 4 and 5 on the calculation of interest shall be applied; Involvement as a general partner in a partnership is always considered participation;

3. fair value: the amount that an acquirer of the entire company in the context of the total purchase price for the respective asset or the relevant debt would apply It is assumed that the purchaser continues the company;

4. fair value: the stock price or market value; in the case of financial instruments their market values as a whole cannot easily determine the value derived from the market value of the individual components of the financial instrument or the market price for a similar financial instrument; firmly, If a reliable market cannot readily determine the value using generally accepted valuation models and methods specific allows, unless these models and methods ensure an adequate approach to the market value;

5. revenues: the amounts arising from the sale of products and control the provision of services after deduction of sales rebates and of value added tax as well as other connected directly to sales;

6. parent company: a company that controls one or more subsidiaries in the sense of § 244;

7 subsidiary: a company directly or indirectly ruled by a parent company in the sense of § 244;

8 associated companies: two or more companies within a group where the parent company and all subsidiaries form a group;

9 associated company: a company in which another company has a stake and which business and financial policy is influenced by the other company It is believed that a company exerts significant influence on another company if that company owns 20% or more of the voting rights of the shareholders or members of the company;

10 essential: the status of information, if it is reasonable to expect that their omission or incorrect indication influenced decisions, on the basis of the annual or consolidated financial statements meet the users. The materiality depends on the size or the specific property of the item or the wrongness of the indication. Even if a single post for itself taken as negligible can be seen, several unwesentliche similar items can be considered together essential;

11 investment firms: a. company, whose sole purpose of which is to put their funds in securities or properties of various kinds or other values with the only aim to spread the risk of investment and their shareholders or members of the profits from the management of their assets to participate;

b. companies, with company after lit. a with fixed capital are connected, unless the only purpose of this associated company is fully paid-up shares, by the companies after lit. a have been spent to acquire, without prejudice to article 22 paragraph 1 letter h 2012/30/EC directive on the coordination of agricultural protection, the Member States the companies within the meaning of article 54 (2) of the Treaty on the functioning of the European Union in the interests of shareholders and third parties for the establishment of the joint-stock company and the maintenance and alteration of their capital are prescribed , equivalent to make these provisions, OJ No. L 315 of the 14 11 2012 p. 74;

"12 investment company: companies, whose sole purpose of which is to acquire holdings in other companies, as well as to perceive the management and exploitation of these investments, unless they directly or indirectly intervene in the management of this company, without prejudice to the rights that are available to them in their capacity as shareholders."

4. According to section 196, 196a the following paragraph with heading is inserted:

"Economic content, materiality

§ 196a. (1) the items of the financial statements are to be balanced, taking into account the economic content of the respective business transactions of each agreement and to represent.

(2) the requirements for the financial statements in relation to representation and disclosure must be not met, if the effect of compliance is negligible."

5. in article 198, paragraph 1, the phrase "the untaxed reserves," is eliminated.

6. in section 198 paragraph 7, the first sentence reads:


"The redemption amount of a liability at the time of their establishment is higher than the issue price, the amount of the difference in the accruals and deferrals on the activated page is to record and separately."

7. in section 198 para 8, no. 3 is replaced by the phrase "non-essential amounts" the phrase "Amounts of secondary importance".

8 § 198 subsection 9 and 10 are:

"(9), which is expected to break down in later years, differences between the company law and the tax valuations of assets, provisions, liabilities and accruals and deferrals this is so when a resulting therefrom a total tax burden as provision for deferred tax liabilities in the balance sheet. A tax relief should arise, as medium-sized and large companies in the sense of § 189 1 have Nos. 1 and 2 lit. a it as deferred tax assets (§ 224, para. 2 D) to put in the balance sheet; small companies in the sense of § 189 1 may do so only Nos. 1 and 2, as far as they break down the unverrechneten loading and reliefs in the annex. For future tax claims from tax loss carryforwards deferred tax assets to the extent can be applied where there are sufficient deferred tax or unless compelling substantial evidence that sufficient taxable income in the future available; are in this case, Z 3 are also the substantial evidence which justify the approach to take in the specification according to article 238 paragraph 1.

(10) the assessment of differences pursuant to § 9 stems from the amount of expected me and credits in subsequent financial years; the amount is not to be interest. A netting of active deferred tax assets deferred tax liabilities is not to undertake, as far as a set-off of the actual tax refund claims with the actual tax liabilities is not legally possible. Deferred tax assets are not taken into account, as far as they arise



1. from the initial recognition of a Geschäfts(Firmen)Werts; (or 2nd from the initial recognition of an asset or liability in a transaction of a) any restructuring in the sense of section 202, paragraph 2 or takeover in the sense of § 203 paragraph 5 is, and b) at the time of the transaction neither accounting profit before tax affects even the taxable profit (tax loss);

3. in connection with investments in subsidiaries, companies or joint ventures in the sense of § 262 para 1 associated if is the parent company in a position to control the timing of the reversal of the temporary differences and it is probable that the temporary difference will not dissolve anytime soon.

The designated items are to resolve as far as the me - or credits occurs or if you no longer can be expected. The expense or income from the change in recognized deferred taxes is in the profit and loss statement under the item separately 'Taxes on income and income'."

9. the heading of the third title is as follows:

"Recognition and measurement"

10. in the heading to § 201, the phrase "the assessment" is omitted.

11. in section 201, para. 2 Z 1, the word "Valuation" is replaced by the phrase "Accounting and valuation methods".

12. after section 201, para 2, no. 6 is inserted following Z 7:



"7. the determination of a value only on the basis of estimates is possible, so these must be based on a careful assessment. Statistically identifiable experience values equal to stored items are available, this should be taken into account."

13. the final sentence does not apply in section 201, paragraph 2; the following paragraph 3 is added:

"(3) a departure from these principles is only in special circumstances and in accordance with § described 195 third set objectives, companies in the sense of § 189 1 Nos. 1 and 2 only in accordance with the § 222 para 2 first sentence spoken to objective allowed." The listed companies have to specify the deviation in the annex, to establish and to demonstrate their influence on the asset, financial and earnings position of the company."

14 in article 203, paragraph 3, the second sentence reads:

"When calculating the cost appropriate share are accounts for a single product of only indirectly zurechenbarer fixed and variable overhead costs to the same extent as to the period of production, to calculate."

15 paragraph 203 paragraph 4:

"(4) interest on debt used to finance the production of objects of investment or current assets may be used on within the framework of the production costs, insofar as they accounted for the period of production. The application of this right to vote is to specify in the annex; medium-sized and large companies (§ 221 para 2 and 3) have to specify the amount enabled total to this provision in the fiscal year also in the annex."

16 the following records will be added § 203 paragraph 5:

"In cases where the life of the Geschäfts(Firmen)Werts can be estimated reliably, the Geschäfts(Firmen)Wert is depreciated over 10 years evenly. Is in the annex of the period to explain the Geschäfts(Firmen)Wert is depreciated over the. "

17. pursuant to section 204 para 1, the following paragraph 1a is inserted:

"(1a) acquisition or manufacturing costs of low value of depreciable fixed assets may in the year of their acquisition or production be fully depreciated."

18. in section 204 para 2, the first sentence reads:

"Fixed assets are whether your use is limited on the lower at the balance sheet date at fair value to exceptional amortization as; for expected ongoing reduction in value without regard to, the depreciation financial assets, which are not investments, is carried out on the lower fair value."

19 § 205 is eliminated along with heading.

20 paragraph 206 para 3:

"(3) the ban on the inclusion of costs of general management and sales leads in exceptional cases (§ 203 paragraph 3 last sentence) to do so, that a true and fair picture of the assets, financial and earnings situation also with additional explanatory notes (§ 222 para 2) can not be conveyed so appropriate share of administrative and sales costs can be used for orders, executing spans more than twelve months," , if there is a reliable cost accounting, and as far as from the other order processing experience no losses. The application of this provision is to specify in the annex, and to justify and their effect on the assets, to present financial and earnings position of the company; the amount also scheduled over the cost is at the same time specify."

21 paragraph 207:

"sec. 207. Of current assets depreciation are to make, to put them at the lower value which is to resolve them at the balance sheet date. "Is the fair value cannot be determined, and exceeds the fair value, the purchase price or production cost is the asset to this value to write off."

22 paragraph 208 subsection 2:

"(2) section 1 does not apply to depreciation of the Geschäfts(Firmen)Werts."

23 paragraph 3 deleted § 208.

24. in article 209, paragraph 1, the phrase "of secondary importance" is 'not substantial' replaced by the twist.

25 paragraph 211:

"Liabilities are to be 211. (1) to its settlement amount, pension obligations at the present value of future payments. Provisions are to apply the settlement amount, which can best be appreciated. Provisions for termination benefits, pensions, Jubilee money commitments or comparable long-term employee obligations are to apply with the amount resulting according to actuarial principles.

(2) provisions with a residual maturity of more than one year are down to interest with a prevailing market rate. An average market rate can be applied to provisions for termination benefits, pensions, Jubilee money commitments or comparable long-term employee obligations, resulting from an assumed maturity of 15 years, provided, however, in some cases there are no significant concerns."

26. in article 212, paragraph 1, the reference "section 189, paragraph 1" with the reference "section 190" is replaced.

27. in paragraph 216, the reference "article 189 para. 3" with the reference "article 190 paragraph 5" will be replaced.

28. in the second section header eliminates the bracket expression (joint-stock companies and limited liability companies).

29. in section 221, paragraph 1 the amount "4.84 million" by the amount of "5 million" and the amount be replaced "10 million" "9.68 million" by the amount.

30. According to section 221, paragraph 1, the following paragraph 1a is inserted:

"(1a) Kleinstkapitalgesellschaften are small capital companies, that are not investment companies or subsidiaries and not exceed at least two of the three following criteria:"



1-350,000 euro balance sheet total;

2. 700,000 euro revenues in the twelve months prior to the balance sheet date;

"3. in the annual average 10 workers."


31. in section 221, paragraph 2 the amount "19.25 million" by the amount of "20 million" and the amount be replaced "40 million" "38.5 million" by the amount.

32. in article 221, para. 3, the second sentence reads:

"A company of public interest (Article 189a Z 1) always considered large corporations."

33. paragraph 221 paragraph 4:

"(4) the legal consequences of the criteria (par. 1 to para 3 first sentence) occur from the following business year, if these features are exceeded or not exceeded at the completion dates of two consecutive financial years. In the case of reestablishment and reorganization (merger, conversion, transfer, merger, Division of real or Division) except for a legal form changing transformation the legal consequences occur already, if the size characteristics on the first closing date for the establishment or reorganization; This also applies to the task of an enterprise or an operation of part of, if the criteria at least half are not met."

34. According to § 221 paragraph 4, the following paragraph 4a is inserted:

"(4a) public limited liability companies, which are parent undertakings (Article 189a Z 6), have the thresholds according to calculate the para 1 to 2 on a consolidated or aggregated basis."

35. paragraph 221 paragraph 5:

"(5) a partnership in the sense of § 189 1 Z 2 is subject to in terms of §§ 222 to 227, section 229 section 1 to 3, §§ 230-243 b and sections 268 to 285 regulated facts the legislation corresponding to the legal form of their unlimited shareholder;" This is no Corporation, the provisions apply to companies with limited liability. "."

36. in section 221, paragraph 7, the reference "paragraphs 1 and 2" with the reference "paragraphs 1 to 2" will be replaced.

37. in the heading of the second title, the phrase "and report payments to Governments" is inserted after the phrase "Corporate governance report".

38. in article 222, paragraph 1 eliminates the parenthesis quote "(§ 243b)" and after the phrase "a corporate governance report" the phrase "and a report of payments to government agencies" and the phrase "and the report on payments made to public authorities" inserted after the phrase "corporate governance report".

39. the following paragraph 3 is added to § the 222:

"(3) the application of a statutory accounting provisions laid down in this Act to do so, that a true and fair picture of the assets, financial and earnings situation of the company with additional information can not be conveyed pursuant to par. 2, results in exceptional cases as can be arranged through regulation, that the provision in question in this respect does not apply is when this is necessary to a true and fair picture of the assets , To provide financial and earnings position of the company. Is such a regulation by the Federal Minister of Justice in consultation with the Federal Minister of finance to issue; She has to define the exceptional cases and to pretend in any way and govern the provision must be derogated from the extent to which, and the required disclosures."

40th in § 223 para. 3, the semicolon is replaced by a point in the first set, the following phrase is omitted, and the second sentence reads:

"Companies that are not small, have to indicate the addition in the annex and to justify."

41. in article 223, paragraph 4, second sentence is inserted after the phrase "Additional items" the phrase "and subtotals".

42. in section 224 subsection 2 the following item is added:

"D. deferred tax assets."

43. in section 224 subsection 3 accounts for the items "B" and the immediately following "1" and "2."; the item "C" is called "B", item "D" receives the name "C." and the item "E." the term "D.".

44. paragraph 225 paragraph 3:

"(3) the amount of receivables with a residual maturity of more than one year is noted for each separately designated items in the balance sheet. Income are included in the line item "Other receivables and assets" are cash only after the balance sheet date, so companies that are not small to explain these amounts in the annex, when this information is essential have."

45. in article 225, paragraph 4 is replaced by the "Companies that are not small, have the phrase" "is".

46. paragraph 225 paragraph 5:

"(5) shares of parent company shall be disclosed depending on their intended purpose in fixed assets or current assets in a separate item"Shares in parent company". A reserve is separately at the same height on the liabilities side. This reserve may be formed by rezoning freely available capital and retained earnings, insofar as they exceed a loss carried forward. It is to resolve insofar as these shares leave the asset or a lower amount is applied to them."

47. paragraph 225 paragraph 6:

"(6) the amount of the liabilities with a maturity of up to one year and the amount of liabilities with a remaining term of more than one year are to specify when the C 1 to 8 items separately and for these items as a whole. Prepayments on orders are as far as down payments on stocks not from individual items of inventories are sold openly, separately under liabilities. Expenses are included in the line item "other liabilities" are cash only after the balance sheet date, so companies that are not small to explain these amounts in the annex, when this information is essential have."

48. paragraph 225 paragraph 7:

"(7) companies, which are not small, have to remember the basic value in the balance sheet at land or to specify in the annex."

49. paragraph 226 paragraph 1:

"(1) in the annex is the development of the individual items of fixed assets to represent." To specify separately for the various items of fixed assets are:



1. the acquisition or manufacturing costs to the beginning and end of the fiscal year;

2.- and disposals and transfers in the course of the fiscal year;

3. accumulated depreciation at the beginning and end of the fiscal year;

4. drain and attributions of the fiscal year;

"5. movements in depreciation related to and disposals and transfers in the course of the fiscal year and 6 which in the course of the fiscal year activated amount if interest pursuant to § 203 paragraph 4 be enabled."

50 paragraph 2 is § 226.

51. in article 226, para. 3, deleted the phrase "and is necessary in accordance with article 205, paragraph 1 in this respect no I.d. of an untaxed reserve".

52. in article 226, paragraph 5, the first sentence reads:

"Companies that are not small, have to specify the amount of a lump-sum allowance claims for the corresponding items of the balance sheet in the Appendix."

53. in paragraph 227, the second sentence reads:

"Companies that are not small, have loans with a residual maturity to give up to one year in the annex."

54. Article 228 is eliminated along with heading.

55. in paragraph 229 are the para 1, 1a and 1B:

"(1) the nominal capital is to be applied on the liabilities side, the amount of acquired deposits. Not required pending deposits are open to drop by this post. Societies that take a foundation privilege claimed (section 10 b GmbHG), have to expel those amount the shareholders not to afford 10 b para 4 GmbHG are obliged according to § in addition. The requested, but not yet paid-up amount is separately under the claims and to designate.

(1a) the principal amount or, if it is not present, the calculated value of acquired own shares is in the preliminary columns open to depose of the post nominal capital. The amount of the difference between the nominal value or the nominal value of these shares and their acquisition cost is with the non appropriated capital reserves and retained earnings free (article 224, paragraph 3 A II Z 2 and III Z 3) to charge. Expenses, the acquisition-related costs, are costs of the fiscal year. In the appropriated reserves, an amount is set, which is equivalent to the nominal value and the par value of own shares acquired. German Stock Corporation Act § 192 paragraph 5 shall apply.

(1B) for the disposal of own shares the card shall not be under par. 1a first sentence. A difference rising over the nominal value or the nominal value of the proceeds is to adjust to the height of the second with the freely available reserves in accordance with paragraph 1a sentence of invoiced amount to the respective reserves. A beyond difference must be no. 1 in the capital reserve pursuant to paragraph 2. The costs of disposal are expenses of the fiscal year. The reserve is fourth set after paragraph 1a to resolve."

56. in article 229, paragraph 3, the phrase is omitted "after taking into account the change in untaxed reserves".

57. in article 229, paragraph 4 "have" is inserted after the phrase "in accordance with the following paragraph 5 to 7".

58. in article 229, paragraph 6, the phrase does not apply "after taking into account the change in untaxed reserves".

59. Section 230 is eliminated along with heading.


60. in section 231, paragraph 2 Z 4 a comma and the turn ground to the phrase "operating income" "with companies that are not small, need to break down the following amounts:" inserted.

61. in section 231, para 2, the No. 6 reads:



"(6. Personalaufwand: a) wages and salaries, where companies that are not small, wages and salaries must expel separately"

b) social expenditure, of which expenses for pensions, where companies that are not small in addition must separately the following amounts: aa) expenses for severance payments and benefits to corporate staff provision funds.

BB) expenses for statutory social security contributions as well as taxes dependent on the fees, and mandatory contributions;"

62. in section 231, para 2, the Z 8 reads:



"8. other operating expenses, with companies that are not small, as far as they do not fall under Z 18, must separately taxes"

63. in section 231, paragraph 2, the introductory phrase of the Z 14 reads:



"14 expenses from financial assets and securities of in current assets, of which have companies that are not small, separately:" 64. The Z 17 to 26 are in section 231, paragraph 2:



"17 pre-tax profit (sub-total no.s 9 Z and Z 16);

18. taxes on income and income;

19 earnings after taxes;

20 1 to 19 contain other taxes, as far as not taking up the post;

21 profit / loss;

22 release of capital reserves;

23 resolution of retained earnings;

24 allocation to retained earnings;

25 earnings/loss carried forward from the previous year;

26 retained earnings (accumulated losses). "

65. in section 231, paragraph 2 account for the Z 27 to 29.

66. in article 231 para. 3 Z 4 to 6 are:



"4. distribution costs;

5. General administrative costs;

"6. sonstige betriebliche Erträge, wobei Gesellschaften, die nicht klein sind, folgende Beträge aufgliedern müssen: a) income from the disposal of the and the attribution to the fixed assets except for financial assets, b) income from the reversal of provisions, c) rest;"

67. in article 231 para. 3, the introductory phrase of the Z 13 reads:



"13 expenses from financial assets and securities of in current assets, of which have companies that are not small, separately:" 68. In article 231 para. 3 Z 16 to 25 are:



"16 pre-tax profit (sub-total no.s 8 Z and Z 15);

17 taxes on income and income;

18 result after taxes;

19 1 to 18 contain other taxes, as far as not taking up the post;

20 profit / loss;

21 release of capital reserves;

22 resolution of retained earnings;

23 allocation to retained earnings;

24 retained earnings/loss carried forward from the previous year;

25 retained earnings (accumulated losses). "

69. in article 231 para. 3 accounts for the Z 26 to 28.

70. According to article 231 para. 3 be added following paragraph 4 and 5:

"(4) the formation of subtotals (except those referred to in paragraph 2 Z 19 and para 3 Z 18) must be avoided when small companies."

(5) Alternatively to the presentation in the profit and loss account changes in capital and retained earnings also in the annex can be reported. In this case the profit and loss account ends with the item "Profit / loss"."

71. paragraph 1 is eliminated § 232.

72. in § 232 par. 2, the semicolon is replaced by a dot; the half-sentence no longer required after the semicolon.

73. in § 232 par. 3 of the reference is "article 231 para 2 Z 28 or article 231 para. 3 Z 27" by reference "section 231, paragraph 2 Z 25 or article 231 para. 3 Z 24" replaced.

74. paragraph 4 deleted § 232.

75. section 233 is eliminated along with heading.

76. in paragraph 234, the second sentence reads:

"Companies that are not small, have separated income from tax credits and from the reversal of improper used tax provisions to identify, as far as they are essential (section 189a Z 10)."

77. paragraph 235:

"235. (1) winnings may be not distributed, as far as they have arisen from the release of capital reserves arising from restructuring approach of fair value amounting to the difference between the book value and the fair value. This amount is reduced in so far as the difference in the result is reduced regardless especially by scheduled or non-scheduled depreciation in accordance with the sections 204 and 207, or by book value disposals by the resolution of the underlying capital reserve.

(2) in the case of capitalisation of deferred taxes in accordance with section 198 paragraph 9 profits may be distributed in addition only, as far as the remaining always resolvable reserves plus a profit carried forward and less of a loss lecture at least correspond to the enabled amount."

78. the paragraphs 236 to 238 are including headings:

"Understanding the balance sheet and profit and loss account

section 236. In the appendix are the balance sheet and the income statement as well as the accounting be applied and valuation methods to explain that a true and fair picture of the assets, financial and earnings position of the company is mediated. A small company needs no beyond the requirements of this federal law disclosures to make, as far as no accounting rules applicable to undertakings certain legal forms are applicable to them are based on legal acts of the European Union. The notes are in the order of appearance of items in the balance sheet and in the profit and loss account.

Content of the annex to applicable to all companies

237. (1) every society has to make the following entries in the annex in addition to the particulars required under other provisions of this federal law:



1. the accounting and valuation methods; These include in particular the assessment basis for the various items, an indication to match this accounting and valuation methods the concept of going concern and significant changes to the accounting and valuation methods; These data contain also the basis for the conversion into euro as far as amounts underlying the post, another currency are or have been originally;

2. at the place of the note under the balance sheet are the total amount of contingent liabilities (§ 199), as well as other essential financial obligations, not to have that on the liabilities side, even if generally use demands facing them, as well as type and shape each granted via security; any pension obligations and liabilities towards associated or associated companies are separately to note;

3. the amounts of advances granted to the members of the Management Board and the Supervisory Board and credits under the interest and principal conditions of payments, if necessary, back and adopted as well as the liabilities entered into for the benefit of such persons. This information is summarized for each of these groups of people to make;

4. the amount and the nature of the individual income or expense items of extraordinary magnitude, or of major importance;

5. the total amount of liabilities with a remaining term of more than five years and the total amount of the liabilities for which collateral are ordered, specifying the type and form of security;

6. the average number of employees during the financial year;

7. name and seat of the parent of the company that prepares the consolidated financial statements for the smallest group of companies.

(2) small companies have to make specifying Z 11 in the annex in addition to article 238 paragraph 1.

Explanatory notes for medium-sized and large companies

238. (1) medium-sized and large companies have to specify in the annex in addition:



1. for each category of derivative financial instruments: a) nature and scope of financial instruments, b) the fair value of the financial instruments, where is this under section 189a reliably determine Z 4 allows specifying the evaluation methodology as well as a possibly existing book value and the balance sheet item, in which the book value is recorded;

2. for belonging to financial fixed assets financial instruments, which are above their fair value, when a non-scheduled depreciation pursuant to section 204 para 2 second sentence is there have been no: a) the book value and the fair value of individual assets or appropriate groupings, as well as b) the reasons for the omission of a depreciation pursuant to section 204 para 2 and those clues that indicate that the impairment likely not of duration is;

3. on which differences and tax loss carryforwards deferred taxes are based and which tax valuation you are also in the course of the fiscal year be carried out movements of deferred balances;

4. name and location of other companies, in which the society or on whose behalf another person has a stake (Article 189a Z 2); In addition are the amount of the share capital, the equity and the results of the last financial year of these companies indicating a year report is available for this;

5.

the existence of participation certificates, participatory rights, convertible bonds, warrants, options, improvement bills or similar securities or rights, stating the number and the rights that securitize them;

6. name, seat and legal form of the company, whose unlimited managing partner is the company;

7. name and seat of the parent of the company that prepares the consolidated financial statements for the largest group of companies;

8. in the case of disclosure of the parent company to Z 6 and article 237, paragraph 1 Z 7 consolidated financial statements set up the places where these are available;

9. the proposed appropriation of the result or, where appropriate, the use of profits;

10 nature, purpose and financial implications of not in the balance sheet contained and not in accordance with article 237, paragraph 1 Z 2 to be shops, provided that the risks and benefits arising from such transactions, are essential and the disclosure of such risks and benefits for the assessment of the financial situation of the company is necessary;

11 nature and financial impact of significant events after the balance sheet date, are reflected in the profit and loss account or balance sheet;

12 transactions of the company with he related related companies and persons in the sense of Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards, OJ No. L 2002/243, p. 1, adopted international accounting standards, including information on the scope of the value, to the nature of the relationship with the related companies and persons, as well as further information on the operations, which are necessary for the assessment of the financial situation of the company, provided that these transactions have been completed substantially and in unusual market conditions. Information about individual transactions can be grouped together according to types of business if no separate specifications are needed for assessing the impact of these transactions on the financial position of the company. Transactions between affiliated companies are excluded, if the subsidiary companies involved in the transactions directly or indirectly owned but share their parent;

13. in application of the cost-of-sales accounting (article 231 para. 3) the expenses of for materials and other purchased production services, fiscal divided pursuant to article 231, paragraph 2 Z 5, and the personnel of the financial year, divided pursuant to article 231 para 2 No. 6;

14. the breakdown according to article 237 paragraph 1 Z 2 to be contingencies and explanation of this. Moreover are material obligations from the use of tangible assets not recognised on the balance sheet (section 224 subsection 2 A II) separately to specify, where is to specify the amount of the obligations of the following fiscal year and the total of the next five years.

15 provisions, which will not be shown separately in the balance sheet if they have a substantial; These provisions are to explain;

16. the amount of deposits by silent shareholders; not separately in the balance sheet

17. in applying a valuation method according to article 209, paragraph 2 the difference amounts for each group, if the rating compared to an assessment on the basis of the last prior to the closing date for the famous stock exchange price or market price has one significant difference;

18. the attributable to the fiscal year expenditures for the Auditor, broken down according to the expenses for the audit of the financial statements, for other assurance services, tax advisory services and other services. This information can be omitted if the companies included in the consolidated financial statements and such information is included;

19 intangible assets designated in the balance sheet purchased from an associated company or a shareholder with a stake (Article 189a Z 2);

20. the relationships to affiliated companies; RMS is also reporting that bind the company to überrechnen their profit or loss completely or in part to other people or to take such other people about contracts.

21 which in article 231 para 2 Nos. 10 and para. 3 Z 9 contained income, as well as in the article 231 para 2 Z 14 and para. 3 Z 13 included expenses from profit communities.

(2) derivative financial instruments within the meaning of paragraph 1 also contracts relating to the purchase be considered no. 1 or the sale of goods where each of the Contracting Parties to settle in cash or some other is entitled financial instrument, unless, the Treaty was signed, a for the acquisition, disposal, or use anticipated need secure, provided that this dedication of purpose from the outset was and remains and the contract with the delivery of the goods as is fulfilled. The application of generally accepted valuation models and methods (section 189a Z 4) are the central assumptions to specify each were used to inform the determination of the fair value.

(3) medium-sized companies may restrict the information referred to in paragraph 1 Z 12 on those transactions, concluded with its shareholders, who hold a stake (Article 189a Z 2), with companies in which the company has been involved in, or with the members of the management board or the Supervisory Board."

79. in article 239, paragraph 1 the introductory phrase and the Nos. 1 and 2 are:

"239 (1) of the annex by medium-sized and large companies has to lead institutions and workers in particular:"



1. the breakdown of the average number of employees during the financial year after workers and employees;

2. in the post article 231 para 2 No. 6 lit. b sublit. "aa or contained in the corresponding specification pursuant to article 238 paragraph 1 Z 13 expenses for severance pay or a note that the amount is just more of the benefits to corporate staff provision funds;"

80. in section 239 para 1 is in Z 5 lit. c the phrase "listed companies" by the phrase "companies according to Article 189a subpara 1 lit. a"replaced.

81. in article 239, paragraph 2, the phrase "a large or medium-sized company" is inserted after the word 'Annex'.

82. paragraphs 240 to 242 are including headings:

"Explanatory notes for large companies

§ 240. Large companies have in the annex in addition to fields of activity as well as geographically specific markets to specify the breakdown of revenues, as far as is under consideration of the Organization of sale of products and the provision of services that each other significantly different activity areas and geographically specific markets. Revenues however do not need to be expanded, as far as the breakdown is suitable according to sound business judgment, to inflict a considerable disadvantage to the company; the application of this derogation is to mention in the annex.

Mandatory for public companies

section 241. In the Appendix of large or medium-sized companies are also give information about



1 attributable to each class of shares amount of the share capital at par value shares the nominal and the number of shares of each nominal value shares whose numbers as well as when several genera are the number of shares of each category;

2. the inventory and access to shares, a shareholder account of the company or an associated company or an affiliated company as founder or artist or in the exercise of a granted a conditional capital increase conversion or subscription rights acquired; are such shares in the fiscal year have been recovered, it is also about the recovery, stating of the proceeds and the use of proceeds to report;

3. shares, which have been drawn from a conditional capital increase or an authorized capital in the financial year;

4. the authorized capital;

5. the amount of the subordinated capital within the liabilities;

6. the existence of a reciprocal participation (Article 189a Z 2) stating the participating company.

Omission of information

242. (1) Kleinstkapitalgesellschaften need to make no attachment if it Z to do 2 and 3 information required under the balance sheet according to article 237, paragraph 1. At Kleinstkapitalgesellschaften, it is assumed that the financial statements created under the provisions of this Federal Act gives a true and fair picture of the assets, financial and earnings pursuant to § 222 para 2 why second sentence and article 222, paragraph 3 do not apply section 222, paragraph 2.

(2) in the case of all other corporations, the indications referred to in article 238 paragraph 1 can be avoided Z 4, as far as they



1 not essential (section 189a Z 10) or 2 according to sound business judgment are suitable to inflict a considerable disadvantage the company or the other company, where in this case the application of this exemption in the annex must be mentioned.

The indication of changes in equity and the profit can be avoided if the company, which according to § 238 Z 4 to report, does not disclose its annual financial statements and it is not dominated by the reporting company.


(3) in the case of reporting pursuant to article 238 paragraph 1 Z 20 need not be specified details, as far as the information is suitable according to sound business judgment, to inflict a considerable disadvantage to the company or an associated company. The application of the derogation is to specify in the annex.

(4) concern the breakdowns according to section 239 para 1 Z 3 and 4 less than three persons, so are allowed except in the cases of § 243 para 2 No. 3 be avoided."

83. paragraph 243 para 3:

"(3) the annual report has also to take on"



1. the foreseeable development of the company;

2. activities in the field of research and development;

3. the stock of own shares in the company, which has acquired them, an associated company or another person on behalf of the company or an associated company or taken as a pledge; While the number of these shares, the attributable to them amount of the share capital as well as their share of the capital stock, for acquired shares also the date of acquisition and the reasons for acquiring shall be indicated. Are such shares during the year acquired or sold been, is also about the purchase or sale, specifying the number of these shares, the amount of attributable to them of the share capital, to report the proportion of the share capital and of the purchase or sale price as well as the use of the proceeds;

4. existing branches of the company;

5. use of financial instruments, provided that this is essential for the assessment of assets, financial and earnings situation; "(diesfalls sind anzugeben a) the risk management objectives and methods, including methods for hedging each major type of forecasted transaction, be applied in the context of hedge accounting, and b) existing risks, credit risk, liquidity and cash flow risks."

84. in section 243a para 2 is the phrase "Society, which shares or other securities issued by you to trading on a regulated market within the meaning of § 1 para 2 BörseG are approved," by the phrase "company under section 189a subpara 1 lit. a"replaced.

85. According to § 243, b the following § 243 c is inserted:

"Report of payments to Governments

§ 243c. (1) large companies and companies of public interest involved in the extractive industry or in the field of logging in primary forests, have a year to create a report of payments to Governments. Societies are the payments to Governments in the consolidated report of a parent company established in a Member State of the European Union or a Contracting State of the agreement on the European economic area which was created and disclosed according to the requirements of article 44 of the accounts directive are exempt if they specify in the notes to the financial statements, at which company they are included in the consolidated report and where it can be obtained.

(2) as an activity in the extractive industry is an activity in the field of exploration, exploration, discovery, development, and extraction of minerals, oil or gas deposits or other materials in the sectors of the economy to understand that section B divisions 05 and 08 of annex I of to Regulation (EC) No 1893/2006 of the European Parliament and of the Council of 20 December 2006 establishing the statistical classification of economic activities NACE revision 2 and amending Council Regulation (EEC) No 3037/90 of Council, as well as some regulations of the EC on specific areas of statistics, OJ No. L 393 of the 30 12 2006 p. 1, are listed. Primary forests are naturally regenerated forests with native species, where there are no clearly visible indications of human impacts and the ecological processes are not significantly disturbed.

(3) in the report monetary and in-kind contributions are to identify, provided for the activity in the extractive industry or in the field of logging in primary forests, in a public place per fiscal year. Public authorities are national, regional or local government or by such controlled departments, agencies or in the sense of § 244 companies dominated. It is each State authority to specify and in addition to subdivide, which total is eliminated each the total value of the services in the fiscal year



1 production entitlements, 2. taxes levied on the yields, the production or the profits of companies, excluding taxes, which are levied on the consumption (as sales tax), payroll taxes or taxes dependent on sales, 3. usage fees, 4. dividends, 5 signature, discovery and production bonuses, 6 license, rental and access fees as well as other considerations for licenses and/or concessions and 7 posts for the improvement of infrastructure.

(4) if the services for a specific project are dedicated to, is to specify which part of the amounts referred to in paragraph 3 to be accounted for by the project. In addition, there is the total value of the services for the project to specify. As the project is the entirety of operational activities to look at, which vary according to a single agreement or several content linked agreements, which forms the basis for the services pursuant to paragraph 3 or form.

(5) services, whose Gegenwert is under 100,000 euros in the fiscal year must not be expelled. In the case of an existing agreement on regular services is to terminate on the total amount of the associated regular services during the reporting period. If at a breakdown by type of performance and projects individual services due to fall of the limit of €100,000 not be deported, so that the sum of the individual expanded services not to be total, is separately to indicate the use of this relief. A company committed to the creation of a report made reportable payments during a period of no authority, it shall report only to indicate that a business activity in the extractive industry or in the field of logging in primary forests was carried out without any reportable payments were made.

(6) when indicating the services, reference is made on the terms of the relevant payment or activity and not on its form. Payments and activities do not artificially divided with the aim or summarized, to circumvent the application of this provision. As far as benefits in kind are provided, their values are and, if possible, their scope to specify. Supplementary explanations shall be attached to explain how its value has been set.

(7) a government body of voting shareholders of the company is, so paid dividends or capital gains must only be considered, if they



1. under the same conditions as were paid to other shareholders with comparable shares of same genus or 2nd instead of production rights or usage fees were not paid.

(8) companies, which according to equivalent reporting obligations of a non-member country report and disclose in accordance with § 277, are excluded from the creation of a report referred to in paragraph 1. Whether the reporting requirements of a third country are equivalent, is to be judged according to the implementing acts adopted on the basis of article 47 of the balance sheet policy."

86. the section heading before § 244 is as follows:

"THIRD SECTION

Consolidated financial statements, group management report and consolidated corporate governance report consolidated report on payments to government agencies"

87. in article 244, paragraph 1 reads:

"(1) a capital company (parent company) based in the domestic companies are under the uniform management, as the legal representative of the parent company have a consolidated, corporate consolidated a group management report and, where appropriate, a governance report and a consolidated report of payments to government agencies to set up as well as the Supervisory Board and the annual general meeting (AGM) of the parent company within the applicable periods for the presentation of the annual financial statements to submit. The consolidated financial statements, the group management report and the consolidated corporate governance report and the consolidated report of payments to Governments are to be signed by all legal representatives and to submit the main or general meeting together with the annual financial statements of the parent company. As far as the consolidated management report is mentioned in the following provisions, this term covers governance report, where appropriate, the consolidated corporate."

88. paragraph 244 section 3:

"(3) a partnership in the sense of § 189 1 Z 2 is subject to the legislation corresponding to the legal form of their unlimited shareholder; when the facts in the §§ 244 to 267 b This is not capital society, so the rules for limited liability companies."

89. paragraph 244 paragraph 4:


"(4) rights to which a parent undertaking, the rights of other subsidiary considered or by persons acting on behalf of the parent undertaking or of another subsidiary undertaking." To withdraw the rights associated with shares, are the



1 by the parent company or a subsidiary are held on behalf of another person or be kept 2. as security, where these rights are exercised under the authority of the collateral provider or, if a credit institution holding the shares as collateral for a credit, in the interests of the guarantor."

90. paragraph 6 deleted § 244.

91. in the first section 244, paragraph 7 the phrase is "entrepreneurially active registered partnership" "partnership in the sense of § 189 1 Z 2" replaced.

92. paragraph 245:

"245. (1) a parent undertaking (Article 189a Z 6), which is subject to Austrian law, need to prepare not part of consolidated financial statements and the group management report in compliance with the requirements of paragraph 2 (free enterprise) if it is included in the consolidated financial statements of a parent parent (exempting consolidated financial statements) and"



1. the parent company is subject to the law of a Member State of the European Union or of a Contracting State of the agreement on the European economic area and in the liberated company owns all the shares either a. or b. at least 90% of the shares in the exempted company has and the liberation of other shareholders have agreed to or c. the Supervisory Board nor a qualified minority, whose Anteile reach 10% of the nominal capital or the proportionate amount of EUR 1 400 000 , no later than six months before the end of the consolidated fiscal year require the preparation of the consolidated financial statements, or 2 the parent company is not the law of a Member State of the European Union or of a Contracting State of the agreement on the European economic area and neither the Board nor a qualified minority, whose shares reached 5% of the nominal capital or the proportionate amount of EUR 700 000, no later than six months before the end of the consolidated fiscal year require the preparation of the consolidated financial statements.

(2) the consolidated financial statements and the group management report of parent parent company have only liberating effect referred to in paragraph 1, if all the following conditions are met:



1. the exempt company and all its subsidiaries are included without prejudice of article 249 in the liberating consolidated financial statements;

2. consolidated financial statements and group management report have been placed according to the law applicable to the parent company in accordance with the accounts directive or according to the Regulation (EC) 1606/2002 adopted international accounting standards no.; in the case of paragraph 1 Z 2 it is sufficient, if consolidated financial statements and group management report created after the balance sheet policy documents or international accounting standards in accordance with Regulation (EC) No. 1569/2007 of the Commission over the establishment of a mechanism for the determination of equivalence of accounting standards applied by third country issuers of securities pursuant to directives 2003/71/EC and 2004/109/EC OJ No. L 340 of 22 12 2007 p. 66, laid down, are equivalent;

3. the liberating consolidated financial statements of a parent parent company referred to in paragraph 1 Z 2 has been reviewed by an auditor approved by the applicable law;

4. the annex of the annual accounts of the exempted company contains information about the name and the seat of the parent parent, which is the liberating consolidated financial statements, and a note on the exemption from the obligation to prepare consolidated financial statements and a group management report;

5. the liberating consolidated financial statements and the group management report of parent parent be disclosed immediately in the German language or in a language customary in international financial circles sphere at the Court (§ 280 para 2) and submitted to the Supervisory Board, as well as of the next annual general meeting (AGM).

(3) the exemption must be not taken referred to in paragraph 1, if the exempt company a society in the sense of section 189a para 1 lit. a is."

93. in section 245a, paragraph 1 is the phrase "as well as by the provisions of the second to ninth title article 247, para. 3, article 265 para 2-4, § 266 Z 2a, 4, 5, 7 and 11 as well as § 267 to apply" through the twist "as well as by the provisions of the second to ninth title article 247 paragraph 3, section 265 para 2 to 4, § 267 and 267a § apply; "the consolidated financial statements is also the information according to article 237 paragraph 1 No. 6 in conjunction with § 266 Z 4, article 237 paragraph 1 Nos. 3 and section 239 para 1 No. 4 in conjunction with § 266 Z 2 and article 238 paragraph 1 Z 10 and Z 18 to complement" replaced.

94. in article 246, paragraph 1 the amount of "21" be replaced by the amount of "24", the amount of "42" by the amount of '48', the amount of "17.5" by the amount of "20" and the amount of "35" by the amount of "40".

95. paragraph 246 para 3:

"(3) section 1 is not to apply if any of the affiliates is a company of public interest (Article 189a Z 1)."

96. paragraph 249:

"249. (1) a subsidiary need not to be included in the consolidated financial statements if"



1. the required for the preparation of the consolidated financial statements without getting disproportionate costs or not without disproportionate delays are, and on the size of the company is careful to take; or 2. the shares are held in the subsidiaries solely for the purpose of resale; or 3 significant and long-lasting restrictions which seriously impair the exercise of the rights of the parent company in relation to the assets or the management of this company.

(2) if the inclusion of a subsidiary is not essential, it does not need in the consolidated financial statements to be included. This applies to several subsidiaries, they are then in the consolidated financial statements to include when they are together. For a parent company that has only subsidiary, whose inclusion either for themselves and not much taken together is or which not included to be need, eliminates the obligation to prepare consolidated financial statements and a group management report on the basis of paragraph 1.

(3) the exclusion of the companies referred to in paragraph 1 is in the notes, if no consolidated financial statements to set up is to specify in the annex of the annual accounts of the parent company and to establish."

97. in article 250 paragraph 3 is the third sentence:

"A deviation from this principle is allowed; only in special circumstances and in accordance with para 2 third sentence circumscribed objective" "in our consolidated financial statements is to specify the deviation, to justify and their effect on the assets, to present financial and earnings position of the group."

98. in Article 251, paragraph 1 the reference is "§ 193 para. 3, §§ 194-211, 223 to 235" with the reference "§ 193 para 3 and 4 second half-sentence, sections 194 to 211, paragraphs 223 to 227, section 229 section 1-3, sections 231 to 234 and §§ 237 to 241" replaced.

99. paragraph 251 par. 2:

"The inventories in a post may summarizes (2) in the outline of the consolidated balance sheet, if the breakdown is not essential."

100. in article 252, paragraph 2, second sentence is inserted after the word "before" the phrase "or after".

101. in article 253, paragraph 1 and 2, the phrase "untaxed reserves," accounts for each.

102. section 3 eliminates § 253.

103. paragraph 254 paragraph 1:

"(1) the valuation of the shares belonging to the parent company in a subsidiary included in the consolidated financial statements will be charged with the relating to these shares amount of equity of the subsidiary. Equity is the amount, which corresponds the fair value of the assets to be included in the consolidated financial statements, provisions, liabilities and accruals and deferrals at the time chosen for the allocation in accordance with paragraph 2. Pro rata equity must not be in an amount, which exceeds the initial cost of the parent company for the shares in its consolidated subsidiary. If the acquisition cost less than the book value of the pro rata equity, book value is to apply."

104. in paragraph 254, para. 3, the first sentence reads:

"An difference emerging at the resolution is in the consolidated balance sheet, if he is on the active page, as Geschäfts(Firmen)Wert and, if it is created on the liabilities side, as a difference from the summary of equity and holdings (Consolidation) to expel."

105. paragraph 255 par. 2:

"(2) para 1 need not be applied, as far as the to skip away amounts (Article 189a Z 10) are not essential."

106. paragraph 256 paragraph 2:

"(2) section 1 does not need to be applied, as far as the treatment of intermediate results (section 189a Z 10) is not essential."

107. paragraph 257 paragraph 2:

"(2) expenses and income need not to be left out, as far as the to skip away amounts (Article 189a Z 10) are not essential in accordance with paragraph 1."

108. paragraph 258:


"§ 258. measures that have been carried out according to the provisions of the third section, lead to differences between the company law and the tax valuations of assets, debt or deferred charges and is expected to again reduce these differences in later years, a resulting overall tax burden as a provision for deferred tax liabilities and a resulting overall tax relief is so as to use deferred tax assets in the consolidated balance sheet. Differences arising from the initial recognition of an according to § 254 paragraph 3 remaining difference amount shall be disregarded. Be disregarded also differences arising between the tax valuation of a shareholding in a subsidiary, an associated company or a joint venture in the sense of § 262 para 1 and the company-legal valuation of net assets in the consolidated financial statements, when is the parent company in a position to control the timing of the reversal of the temporary differences and it is probable that the temporary difference will not dissolve anytime soon. A netting is not to undertake, as far as a set-off of the actual tax refund claims with the actual tax liabilities is not legally possible. Section 198 para 10 is to be applied accordingly. The items may be combined with the post according to section 198 paragraph 9. The tax accrual does not need to be made, insofar as it is not essential."

109. paragraph 259 paragraph 1:

"(1) in the consolidated balance sheet is for the non-not the parent company or a consolidated subsidiary shares in the subsidiaries included in the consolidated financial statements a counterpart for the shares of other shareholders in the amount of their share of the equity capital determined in accordance with the provisions of § 251 par. 1 under the heading"non-controlling interests"within equity separately to expel."

110. in article 260, para 2, the third and fourth sentence read:

"A uniform assessment pursuant to the first sentence does not need to be made, as far as their impact (section 189a Z 10) are not essential. Furthermore, a departure in special circumstances and in accordance with is third sentence in article 250 paragraph 2 circumscribed objective allowed; "in our consolidated financial statements is to specify the deviation, to justify and their effect on the assets, to present financial and earnings position of the group."

111. paragraph 261 subsection 1:

'(1) the depreciation of a to be assigned according to article 254 para. 3 Geschäfts(Firmen)Werts targeting according to § 203 paragraph 5.'

112. in section 261, paragraph 2, the semicolon is replaced by a dot Z 2; the following phrase is omitted.

113. in the heading of the seventh title and section 263, paragraph 2, and in section 264 paragraph 3 to 6 the term "connected (associated) company" in the linguistically correct version is replaced by the term "associated company".

114. in the heading to § 263 eliminates the word "Term" and the trailing comma.

115. paragraph 263 par. 1:

(1) that is participation in an associates in the consolidated balance sheet under a special item with corresponding label.

116. in section 263, paragraph 2, the phrase "for presenting as true a picture of the assets, financial and earnings position of the Group of only minor importance" is replaced by the phrase immaterial (section 189a Z 10).

117. paragraph 264 (1) to 2:

"264 (1) is an interest in an associated company in the consolidated balance sheet for the first time with the book value referred to in paragraphs 198 to 242. The amount of the difference between the book value and the proportional equity in associated company is separately at initial application in the consolidated balance sheet or in the notes.

(2) the amount of the difference referred to in paragraph 1, second sentence, is the carrying amounts of assets and debt of the associated company as far as associate, higher than their fair value or lower than their book value. The difference amount associated to the first movement is to continue according to the handling of the valuations of the assets and liabilities in the financial statements of the associated company in the consolidated financial statements, write off or to resolve. On a remaining after assignment after the first set difference is § 261 according to to apply."

118. in article 264, paragraph 4, the phrase "connected (associated) investments" is replaced by the phrase "Investments in associates".

119. in section 265 para 1 is before the word "specify" the twist "instead of stating according to article 237 paragraph 1 Z 1" inserted.

120. in section 265 para 2 is in the introductory sentence before the word "specify" the twist "instead of stating according to article 238 paragraph 1 Z 4" added.

121. in section 265 para 2 Z 2 is substituted the phrase "connected (associated) companies" "associated companies" with the phrase.

122. in section 265 para 2 No. 4 replaces the phrase "at least the fifth part of the shares" by the phrase "a participation (Article 189a Z 2)" and the phrase "for presenting as true a picture of the assets, financial and earnings position of the Group of only minor importance" not essential (section 189a Z 10) the twist.

123. paragraph 266:

"§ 266. The data, which are to make in accordance with § 251 par. 1 in conjunction with §§ 237-240, following special rules apply:



1 the figures are according to § 246 to make regardless of the classification of the Group;

2. when the information according to article 237 paragraph 1 No. 3 and to section 239 para 1 No. 4 is to specify the amounts that have granted the members of the Management Board, supervisory board or similar bodies of the parent undertaking the parent undertaking and its subsidiaries. Section 239 para 4 lit. a third set is ignored. Article 242, paragraph 4 is to apply mutatis mutandis. Except the remuneration for the year, the other references are to specify, which are granted in the fiscal year, so far but specified no consolidated financial statements;

3. When you specify according to article 237, paragraph 1 Z 5 is on liabilities to be taken into account, for the collateral are ordered by the companies included in the consolidated financial statements;

4. in case the information provided according to article 237 paragraph 1 Z 6 and section 239 para 1 refer Nos. 1 and 3 on the employees of the companies included in the consolidated financial statements; the average number of employees of companies only proportionally consolidated pursuant to § 262 is to specify separately;

5. When specifying transactions with related companies and persons and companies included in the consolidated financial statements (article 238 paragraph 1 Z 12) are businesses that omit the consolidation is not considered; Section 238, paragraph 3 shall not apply;

"6. the information according to article 238 paragraph 1 Z 15 to 17 and 19 to 21, section 239 para 1 Z-2 and Z 5 and § 241 subpara 2, 4, 5 and 6 can be avoided."

124. in the heading of the ninth title a comma and the word sequence is inserted after the word "management report" "consolidated corporate governance report".

125. paragraph 267 par. 3:

"(3) the consolidated management report is also on"



1. the expected development of the Group;

2. activities of the group in the field of research and development;

3. the number of shares in the parent company, has purchased the parent company or a subsidiary or any other person for the account of one such company or taken as a pledge; While the number of shares, the amount attributable to them, as well as their proportion of the share capital shall be indicated. Are such shares during the year acquired or sold been, is also about the purchase or sale, specifying the number of shares, the amount of attributable to them of the share capital, to report the proportion of the share capital and of the purchase or sale price as well as the use of the proceeds;

4. to understand of the position of the companies included in the consolidated financial statements significant branches of the parent company and the subsidiary companies;

5. use of financial instruments, provided that this is essential for the assessment of assets, financial and earnings situation (Article 189a Z 10); "(diesfalls sind anzugeben a) the risk management objectives and methods, including methods for hedging each major type of forecasted transaction, be applied in the context of hedge accounting, and b) existing risks, credit risk, liquidity and cash flow risks."

126. in article 267, paragraph 3 b is the phrase "Parent company, which shares or other securities issued by him to the trading on a regulated market within the meaning of § 1 para 2 BörseG are approved," by the phrase "parent undertaking according to Article 189a subpara 1 lit. a"replaced.

127. According to § 267 following §§ 267a and 267 b shall be inserted:

"Consolidated corporate governance report"


section 267a. A parent company whose shares to trading on a regulated market within the meaning of § 1 para 2 are admitted to BörseG or that emits only other securities than stocks on such a market and its shares with knowledge of the company on a multilateral trading facility, within the meaning of § 1 Z 9 WAG 2007 traded, has to establish a consolidated corporate governance report, which contains in section 243 (b) prescribed information , with the necessary adaptations to make have to be able to assess the situation of the companies included in the consolidation as a whole. Article 251 par. 3 shall apply accordingly.

TENTH TITLE

Consolidated report on payments to government agencies

section 267 b. (1) the legal representatives of a large (§ 221 para 3) parent (Article 189a Z 6) have, if it itself or one of its affiliated companies in the extractive industry or in the field of logging in primary forests is active, even if of the consolidated financial statements in some cases due to the application of article 249 is omitted, an annual consolidated report on payments to government agencies according to the § 243 c to prepare and the Supervisory Board and the annual general meeting (AGM) of the parent company within the for the template of the Financial statements applicable deadlines to submit. The consolidated report is to be signed by all legal representatives and to present the annual general meeting together with the annual financial statements of the parent company. He has to cover arising from the business activities in the extractive industries or in the area of logging in primary forests only on services.

(2) by the creation of a consolidated report on payments to government agencies, parent company are exempt, which are exempt under section 246 of the preparation of a consolidated or are subsidiaries of a company governed by the law of another Member State of the European Union or of a Contracting State of the agreement on the European economic area. By the inclusion of a subsidiary in the consolidated report on payments to Governments may be waived under the conditions of article 249, paragraph 1, if the subsidiary for these reasons also is not included in the consolidated financial statements. Finally, parent company are exempt, which according to equivalent reporting of a third consolidated report and disclose in accordance with § 277. Whether the reporting requirements of a third country are equivalent, is to be judged according to the implementing acts adopted on the basis of article 47 of the balance sheet policy."

128. in article 268, paragraph 3 is eliminated.

129. paragraph 269:

"269. (1) has the examination of the annual financial statements and the consolidated financial statements to cover, whether the legal regulations and supplementary provisions of the partnership agreement or the articles of Association to comply. In the audit of the financial statements, the accounting is to include.

(2) the auditor of the consolidated financial statements bear the full responsibility for the audit report to the consolidated financial statements. He has also annual accounts summarized in the consolidated to check whether they comply with the generally accepted accounting principles, and whether rules governing the takeover in the consolidated financial statements have been observed. If companies by other auditors are examined in the consolidated financial statements, the consolidated financial statements has whose activities in an appropriate manner to monitor, as far as this is decisive for the audit of the consolidated financial statements.

(3) the management report and the group management report of corporations are to examine whether the annual report with the financial statements and the group management report with the consolidated financial statements in conformity are available and whether the management report and group management report have been set up according to the applicable legal requirements. Subject to the statutory audit is also whether an according to § 243, (b) or section 267a of required corporate governance report has been drawn up.

(4) the annual financial statements, the consolidated financial statements, the management report or group management report change after submission of the audit report, is the change to announce the independent auditor who has to check with their effects. On the outcome of the examination is to report; the auditor's report is in accordance with § 274 according to complement and, if necessary, to change."

130. Article 270, para. 3 replaces the reference "section 268 paragraph 3" with the reference "article 269 paragraph 4".

131. paragraph 274:

"§ 274. (1) the statutory auditor has to summarize the results of the audits in a confirmation note. Includes the auditor's report



1. an introduction, which indicates at least the companies whose financial statements beziehungsweise consolidated financial statements is the subject of the audit, also was the closing date and the completion period and the accounting principles according to which the statements were compiled, 2. a description of the nature and the scope of the audit containing at least information about the auditing standards, which carried out the audit, as well as 3 a audit opinion, either a full , a limited or a negative and clearly stipulating whether according to the auditor the annual accounts or consolidated accounts complies with the statutory requirements and in accordance with the relevant accounting standards gives a true and fair picture of the assets, financial and earnings situation of the company or of the group.

(2) the Auditor not in a position to give an opinion, is he to specify this in the auditor's opinion.

(3) in the auditor's report is to refer the Auditor in a special way has pointed out, without compromising the audit opinion on all other circumstances.

(4) the auditor's report must include an explanation of any significant uncertainties in connection with the events or conditions that can raise substantial doubt about the ability of the company to continue of the business.

(5) the auditor's report also includes



1. a judgment about whether the management report or group management report a. says or consolidated financial statements of the relevant financial year in accordance with the financial statements b. set up according to the applicable legal requirements was and c. includes, where appropriate, relevant information according to § 243a and 2. a statement whether substantial erroneous information have been identified in light of the findings of the audit and gained understanding about the company and its environment in the management report and group management report , where to go in the way of this incorrect information is.

(6) the audit carried out by more than one statutory auditor, they have to agree on the results of the audit and to issue a common audit report and a common opinion. In disagreement, each auditor has to submit an own judgment in a separate paragraph of the audit report and to explain the reasons for the disagreement.

(7) the auditor's report must be signed by the statutory auditor, stating the date and place of establishment. An audit is performed by an audit firm, an auditor's opinion at least of the responsible auditor is to sign. Are more than an auditor at the same time commissioned been the auditor of all responsible Auditors is to sign, which conducted the audit.

(8) the auditor's report is in writing to compose with the results presented clearly and in a clear form. The auditor's report is to record in the audit report (§ 273)."

132. paragraph 277 section 1:

"(1) the legal representatives of corporations have the financial statements and the management report as well as, where appropriate, the corporate governance report and report payments to Governments after his treatment at the annual general meeting (AGM), but no later than nine months after the balance sheet date, to submit with the auditor at the Court of the registered office of the capital company; the report of the Supervisory Board and the decision on the use of profits to submit are within the same period. Be this deadline the annual financial statements and the management report, as well as, where appropriate, the corporate filed governance report and the report on payments to government agencies without the other documents, the report of the Supervisory Board after his, the decisions of its decision and the notice must be after grant to submit without delay. Modifying the financial statements for subsequent testing or observation, also to submit this change is."

133. in section 277, paragraph 2, the phrase "or the notice on its refusal or restriction" does not apply.

134. paragraph 277 para 3:

"All items in full 1 000 euro can be specified (3) in the disclosure and publication, in accordance with materiality (Article 189a Z 10) also in larger units."

135. in paragraph 277, paragraph 6, the first sentence reads:


"The documents are referred to in paragraph 1 to submit electronically, to include in the document collection of the companies book, and to make publicly available pursuant to §§ 33 f. FBG."

136. paragraph 278 paragraph 1:

"(1) section 277 shall apply that legal representatives have only the balance sheet and the notes to submit only the balance, Kleinstkapitalgesellschaften is on small companies with limited liability (§ 221 para 1)." The balance to be disclosed only the needs in section 224 subsection 2 and 3 with letters and Roman numerals to contain marked items with posting pursuant to § 224 subsection 2 B II § 224 paragraph 3 C according to all summarized Payables with a remaining term of more than one year separately to specify all combined receivables with a residual maturity of more than one year and at the post; the details are first according to article 229, paragraph 1 third set to make. The company referred to in article 268, paragraph 1 tax, the auditor's report is to submit."

137. paragraph 279:

"§ 279. The following applies to the disclosure of small and medium-sized companies (§ 221 para 1 and para. 2) and medium-sized companies with limited liability (§ 221 para 2):



1 to be disclosed balance requires only that designated in section 224 subsection 2 and 3 with letters and Roman numerals, in addition to include the following items: on the assets side the post A I 2, A II 1, 2, 3 and 4, III A 1, 2, 3 and 4, B II 2 and 3 B III 1, on the liabilities side the post B-1 and 2 and C 1 , 2, 6 and 7 are receivables with a residual maturity of more than one year in the items according to article 224, paragraph 2 B II 2 and 3 separately, as liabilities with a remaining term of more than one year in the post § 224 paragraph 3 C according to 1, 2, 6 and 7. The figures are according to § 229.

2. the post of section 231, paragraph 2 Nos. 1 to 3 and 5 and para. 3 Z 1 to 3 may are summarized to a post under the name "Gross profit"."

138. in § 280 para 1, the first sentence is replaced by the following records:

"The legal representatives of a society that has to prepare a consolidated, have to submit the consolidated financial statements and the group management report as well as, where appropriate, the consolidated corporate governance report and the consolidated report on payments to government agencies with the auditor's report with the annual accounts with the Court of the registered office of the company at the same time. First sentence shall apply analogously. article 277, para. 3 and para. 6"

139. § 280 para 2 the phrase "or in a language customary in international financial circles sphere" shall be added after the phrase "in the German language" and the word "Court" replaced by the word "Court".

140. in article 281, paragraph 1, the phrase "or of the note about its refusal" does not apply.

141. in § 281 para 2 is the third sentence:

"In the case of a mandatory final exam is however to report on the contents of the audit report to the annual financial statements created in legal form or consolidated financial statements including the information according to § 274 paragraph 3."

142. the following paragraph 3 is added to § the 281:

"(3) in the documents that contain the financial statements and the consolidated financial statements, you are first sentence in article 14, paragraph 1 to provide prescribed information."

143. According to section 282 paragraph 2, the following paragraph 2a is inserted:

"(2a) the Court may a company request to the Declaration, whether she or one of its affiliated companies in the sense of § 243 c para 2 in the extractive industry or in the field of logging in primary forests is working, and set a reasonable time limit. The request shall be justified. The company makes no declaration within the time limit, is suspected, dropping the company within the scope of § 243c respectively of section 267 b."

144. paragraph 283 paragraph 1:

"The legal representatives of the company are 283. (1) without prejudice to the General commercial law, to the timely observance of articles 277 and 280 of the Court through coercive penalties from 700 euro to 3 600, at Kleinstkapitalgesellschaften (§ 221 para 1a) stop to 1 800 euros 350 euros." Compulsory punishment is to impose expiry of the disclosure period. She is repeatedly to impose, as far as the above-mentioned institutions are still not fulfilled its obligations after each subsequent two months. A company is regarded as Kleinstkapitalgesellschaft in the sense of this provision, if the legal representatives last have classified in plausible way as such (section 277 para 4), unless it evidence that the thresholds were exceeded in the meantime. Otherwise an Kleinstkapitalgesellschaft only through timely objection of the party as such is treated, section 282 paragraph 2 is applied."

145. in section 283, paragraph 2 are after the phrase "700 Euro" a comma and the phrase "at Kleinstkapitalgesellschaften (§ 221 para 1a) from 350 Euro" inserted.

146. in article 283, para. 3, a comma and the twist are after the phrase "700 euro to 3 600" "at Kleinstkapitalgesellschaften (§ 221 para 1a) from 350 euro to 1 800" inserted.

147. in section 283, paragraph 4 are after the phrase "700 Euro" a comma and the phrase "at Kleinstkapitalgesellschaften (§ 221 para 1a) from 350 Euro" inserted.

148 the following sentence is added to the section 283, paragraph 4:

"There must be at least six weeks between the day of issuing a compulsory fine after this paragraph and the date of the issuing of a previous forced penal order concerning same addressee and same balance sheet date,."

149. in section 283, paragraph 7, the reference "sections 244, 245, 247, 270, 272 and 277 to 280a" with the reference "paragraphs 277 and 280" will be replaced.

150. According to § 283, following §§ 284 and 285 shall be inserted:

"§ 284. The legal representatives of the company and the company itself are without prejudice to the General company law rules to stop up to 3 600 euro for these persons to the compliance of section 280a of the Court through coercive penalties authorized domestic compliance with § 222 para 1, 244, 245, 247, 270, 272, 281 and 283, the Supervisory Board to the compliance of article 270, and in the case of a domestic branch of a foreign company. § 24 para 2 to 5 FBG is to apply.

Exceptions, deferral and relief

No forced penal orders are § 285. (1) during the proceedings with the exception of rehabilitation proceedings with self-administration according to § 283 to adopt. Rights of shareholders and third parties, to request the disclosure, remain unaffected.

(2) at the request of the addressee of a coercive penalty can the Court postpone the date of the payment of a coercive penalty over more than six months (deferred) or grant payment in instalments if the immediate or immediate full payment of the penalty for the applicant with special hardness would be connected and the collectibility of the coercive penalty is not jeopardized by the delay. The payment in installments may be allowed only with the proviso that all still outstanding amounts become due immediately if the debtor with at least two instalments in arrears.

(3) at the request of the addressee of a coercive penalty the Court can subside completely or partially a coercive penalty up to the complete payment, if all the following conditions exist:



1 the input is connected to special hardness for the applicant, 2. all disclosure requirements are now met or its fulfillment is no longer possible for the applicant, 3. is the applicant or his authorized institutions only a small fault in the violation to the load to lay, and 4 needed bringing not or not in full, stop the addressee or other companies for the future timely disclosure."

151. in paragraph 906 shall be added after paragraph 27 following paragraphs 28 to 39:


"(28) § 189 § 198, para 1, 2 and 4, Article 189a, § 196a ABS. 1 and 7 to 10, § 201, para. 2 and 3, § 203 paragraph 3 to 5, § 204 paragraph 1a and 2, article 206, paragraph 3, section 207, section 208 subsection 2, article 209, paragraph 1, § 211, article 212, paragraph 1, § 216, § 221 para 1 to 5 and 7, § 222 para 1 and 3, § 223 para. 3 and 4" , Article 224, paragraph 2 and 3, § 225 paragraph 3 to 7, article 226, paragraph 1, 3 and 5, § 227, section 229, paragraph 1 to 1b, 3, 4 and 6, § 231 para 2 to 5, § 232 par. 2 and 3, paragraphs 234 to 238, section 239 para 1 and 2, § 240 to 242, § 243 para 3, § 243a para 2, § 243 c, 244, para 1, 3, 4 and 7 , § 245, section 245a, paragraph 1, article 246, paragraph 1 and 3, § 249, § 250, para. 3, Article 251, paragraph 1 and 2, article 253, paragraph 1 and 2, article 254 para. 1 and 3, § 255 par. 2, article 256, paragraph 2, article 257, paragraph 2, § 258, article 259, paragraph 1, article 260, paragraph 2, article 261, paragraph 1 and 2, article 263, paragraph 1 and 2, section 264, section 265 para 1 and 2, § 266 , § 267 par. 3 and 3B, section 267a, § 267b, § 269, article 270, para. 3, § 274, § 277 section 1 to 3 and 6, § 278 paragraph 1, § 279, § 280, § 281, section 282 paragraph 2a, § 283, § 284 and section 285 amended by Federal Law Gazette I no. 22/2015 with 20 July 2015 into force. They are, as far as the following, otherwise will be arranged to apply for the first time on documents of accounting for fiscal years beginning after December 31, 2015. 20 July 2015 override contact § 205, section 208 subsection 3, § 226, para. 2, § 228, § 230, section 232, paragraph 1 and 4, § 233, 244, para 6, § 253 para. 3 and article 268, para. 3. On accounting documents for financial years which have begun before January 1, 2016, the provisions as amended before the Federal Law Gazette are I No 22/2015 continues to apply. Company pursuant to § 243 c or section 267 b can create a report or a consolidated report of payments to Governments for those fiscal years beginning after December 31, 2014; in this case, please contact § 243c or § 267b as amended by Federal Law Gazette I no. 22/2015 to.

(29) for the entry of the legal consequences of § 221 para 1, 1a and 2 and § 246 paragraph 1 is to apply the amended criteria for observation periods according to § 221 (4) and article 246, paragraph 2, that before January 1, 2016 lie.

(30) was a discount I no. 22/2015 rather than active deferred items recognised under section 198 paragraph 7 as amended by Federal Law Gazette, the formation of assets for the liability is, until it is no longer assigned. Article 203, paragraph 3 applies, commenced in fiscal years beginning after December 31, 2015 for the first time to manufacturing operations. On manufacturing operations that were started before January 1, 2016, § 203 paragraph 3 in the previous version shall apply. § 203 paragraph 5 and § 261 para 1 as amended by Federal Law Gazette I no. are 22/2015 to apply only to Geschäfts(Firmen)Werte that are made after December 31, 2015. On Geschäfts(Firmen)Werte, that were made before January 1, 2016, is to apply these provisions in the previous version.

(31) untaxed reserves, which according to section 205 as amended before the Federal Act Federal Law Gazette I no. 22/2015 were made, are, as far as the deferred tax liabilities contained therein to feed not the provisions are in the fiscal year that begins to set directly in retained earnings after 31 December 2015.

(32) has been made at an asset a depreciation pursuant to section 204 para 2 or § 207 and was I no. 22/2015 so far apart from the write-up on the basis of § 208 para 2 as amended by Federal Law Gazette, is that whenever the reasons for the write-down no longer apply in the fiscal year, which begins to make an attribution after December 31, 2015. According to § 124 b Z 270 of the income tax Act 1988 tax a write-up reserve formed, can be separately the amount entered in the reserve in the balance sheet under the deferred and Z 270 of the income tax Act 1988 dissolved according to the provisions of § 124 b.

(33) as far as on the basis of the amended assessment of long-term obligations, which require the establishment of a reserve, and on the basis of the approach of deferred taxes from the first-time application of section 198 paragraph 9 and 10 and § 258 amended by Federal Law Gazette I no. 22/2015 an allocation to the provisions is required, is this amount, starting with the year of intake , at the latest five years evenly distributed to catch up. It is permitted, the proposed provision in financial statements for fiscal years beginning after December 31, 2015, to set fully in the balance sheet. In this case the difference between each resulting against the provision proposed pursuant to the first sentence can be separately in the balance sheet under the prepaid expenses.

(34) as far as the first-time application of section 211 in the version of Federal Law Gazette I 22/2015 a release of provisions requires no. or due to the first-time application of section 198 paragraph 9 and 10 and § 258 amended by Federal Law Gazette I no. 22/2015 approach of deferred tax is needed, this amount is starting with the year of the first-time application of this provisions, , to distribute evenly over no more than five years. It is permissible, the offered amount in financial statements for fiscal years beginning after December 31, 2015, to be fully. In this case, a distribution of no longer than five years can be done by the amount of the difference between the full extent of the amount and the amount to be taken into consideration at least after the first set, the deferred will be shown separately.

(35) companies, which in consolidated financial statements for fiscal years that began before January 1, 2016, the capital consolidation according to article 254 para. 1 No. 1 as amended before the Federal Act Federal Law Gazette I no. 22/2015 have carried out, can they maintain method; Article 254 para. 1 case is applying 2 and 3 in the previous version. The change on the consolidation method according to article 254 para 1 as amended by Federal Law Gazette I no. 22/2015 third sentence is justified; in the sense of article 250 paragraph 3 the impact on the asset, financial and earnings position is to represent in our consolidated financial statements.

(36) change with the first application of the provisions under the Federal Act Federal Law Gazette I no. 22/2015 the previous form of the representation or the assessment methods previously applied, so are not apply section 201, paragraph 2 after the amended regulations Z 1 and § 223 para 1 when first establishing of an annual or consolidated financial statements. I are information to associate a different post than before, at the first application of the provisions under the Federal Act Federal Law Gazette No. 22/2015 in comparison to the previous year balance sheet, then the previous year amounts are to calculate, as the provisions under the new law would be applied in the previous year (§ 223 para. 2). As far as the amounts are not comparable, are the appropriate disclosures to make.

(37) § § 283, 284 and 285 are infringements referred to in article 283, paragraph 1 and article 284 obligations to apply, which are used after July 19, 2015 or continue. Applications on deferral and relief can be made from the 20 July 2015 at all coercive penalties; already pending applications for deferral or discount is section 285 amended by Federal Law Gazette I 22/2015 apply by analogy to no..

(38) § are 269, 270, para 3 and § 274 as amended by Federal Law Gazette I to apply no. 22/2015 on the audit of fiscal years beginning after December 31, 2015. Article 268, paragraph 3 occurs with 20 July 2015 override; on the audit of fiscal years that started before January 1, 2016, the provisions as amended before the Federal Law Gazette I are no 22/2015 continues to apply."

(39) section 131 in the version of Federal Law Gazette I 22/2015 is no. 1 January 2015 in force.

152. the text of the previous article 908 receives the clause numbering "§ 909.", from 908 the following section including headline is inserted:

"Relative to European Union law

section 908. The §§ 189, para 1 Nos. 1 and 2, 189a, 195 para 2, 196, 198, 201, 203-211, 221-227, 231 to 269, 274 and 277 to 284 as amended by Federal Law Gazette I no. 22/2015 is the Directive 2013/34/EEC on the annual accounts, the consolidated accounts and related reports by company specific legal forms and amending Directive 2006/43/EC of the European Parliament and of the Council and repealing directives 78 /. 660/EEC and 83/349/EEC, OJ No. L 182 of 29 6 2013 implemented p. 19."

Article 2

Change of the Stock Corporation Act

The German Stock Corporation Act, BGBl. 1965 No. 98, last amended by Federal Law Gazette I no. 40/2014, is amended as follows:

1 in § 45 para 1, § 51 para 2 and 3, article 65, par. 5, article 66, paragraph 1 and 2, § 86 para 2, § 90 (1) and section 95 para 5 Z 12 will each of the reference "section 228 para 3 UGB" with the reference "section 189a Z 7 UGB" replaced. in § 66a is the reference "section 228 para 3 UGB" by reference "section 189a Z 6 UGB" replaced.


2. in article 65, paragraph 2 the phrase "that make prescribed reserve for own shares pursuant to § 225, sect. 5 UGB" "the withdrawal of the nominal capital and the formation of the reserve in accordance with article 229 paragraph 1a (UGB) make" is replaced by the phrase.

3. in section 66a, the phrase "which do not make mandatory reserve for own shares (UGB) in accordance with article 225, paragraph 5" "the withdrawal of the nominal capital and the formation of the reserve in accordance with article 229 paragraph 1a UGB does not make" is replaced by the phrase.

4. in article 79, paragraph 1 and in article 86, paragraph 3, the reference is "article 228, paragraph 1 UGB" with the reference "section 189a Z 2 UGB" replaced.

5. in section 95 para 5 Z 1 is the reference "section 228 UGB" by reference "section 189a Z 2 UGB" replaced.

6. in article 96, paragraph 2, the phrase "and report payments to Governments" is inserted after the phrase "Corporate governance report".

7. in article 96, paragraph 3, the phrase is after the word "management report" "and, where appropriate, the consolidated corporate governance report and the consolidated report on payments to public authorities" inserted.

8. in article 118, paragraph 1, the reference is "§ 244 UGB" with the reference "section 189a Z 6 UGB" replaced.

9. in section 192 paragraph 3 is to turn "section 225, para. 5 second sentence" the twist "or § 229 para 1a fourth movement" inserted.

10. in article 211, paragraph 2, the reference is "specified in §§ 222, 236, 237, 277 and 281 UGB" by reference "specified in §§ 222, 236 to 243 b, 277 to 279 and 281 UGB" replaced.

11. in article 258, paragraph 1 the phrase does not apply ", as well as the § 222 para 1 and 281 UGB".

12 34 the following paragraph is added to article the 262:

"(34) § 45 I 22/2015 contact no. para 1, § 51 para 2 and 3, section 65, subsection 2 and 5, article 66, paragraph 1 and 2, § 66a, section 79, § 86 para. 2 and 3, article 90, para. 1, § 95 para 5, § 96 para. 2 and 3, article 118, paragraph 1, section 192 paragraph 3, section 211 para 2 and § 258 para 1 as amended by Federal Law Gazette 20 July 2015 in force and are to apply for the first time to fiscal years , that begin after December 31, 2015. Business year that started before January 1, 2016, the provisions as amended before the Federal Law Gazette are I No 22/2015 continues to apply. Article 258, paragraph 1 is violations in article 258, paragraph 1 to apply these obligations, which are used after July 19, 2015 or continue."

Article 3

Change of the GmbH law

The GmbH law, RGBl. No. 58/1906, last amended by Federal Law Gazette I no. 13/2014, is amended as follows:

1. in article 30a, paragraph 2 No. 2, section 30e, paragraph 1 and section 30j para 5 Z 10 is each reference "section 228 para 3 UGB" by reference "section 189a Z 7 UGB" replaced.

2. in article 30a, paragraph 2 Z 3 and article 30a, paragraph 3 is the reference "article 228, paragraph 1 UGB" with the reference "section 189a Z 2 UGB" replaced.

3. section 30j para 5 Z 1 is the reference "section 228 UGB" with the reference "section 189a Z 2 UGB" replaced.

4. in paragraph 125, the phrase is omitted "as well as the § 222 para 1 and 281 UGB".

5 18 the following paragraph is added to article the 127:

"(18) section 30a par. 2 and 3, section 30e para 1, I 22/2015 contact no. section 30j para 5 and § 125, as amended by Federal Law Gazette 20 July 2015 in force and are to apply for the first time to fiscal years beginning after December 31, 2015." Business year that started before January 1, 2016, the provisions as amended before the Federal Law Gazette are I No 22/2015 continues to apply. section 125 in the version of Federal Law Gazette I no. is 22/2015 on violations of the obligations referred to in § 125 to apply, which are used after July 19, 2015 or continue."

Article 4

Amendment to the cooperative act

The Act on employment and economic co-operatives, RGBl. No. 70/1873, as last amended by Federal Law Gazette I no. 70/2008 is amended as follows:

1. in article 22, paragraph 5, deleted the phrase "and heard UGB the parent company a stake in accordance with section 228 or the other under the uniform management companies (subsidiaries)".

2. in article 24e, para. 3 of the reference are "§ 228 UGB" by reference "section 189a Z 2 UGB" and the reference "section 228 para 3 UGB" by reference "section 189a Z 7 UGB" replaced.

94f the following section is added to § 3. 94:

"that after 31 December 2015 start § 22 paragraph 5 and article 24e par. 3 in the version of Federal Law Gazette I no. 22/2015 contact 20 July 2015 in force and are to apply for the first time to fiscal years, § 94f.. Business year that started before January 1, 2016, the provisions as amended before the Federal Law Gazette I are no 22/2015 continues to apply."

Article 5

Amendment of cooperative Audit Act 1997

The Federal law on the revision of employment and economic cooperatives, Federal Law Gazette I no. 127/1997, as last amended by Federal Law Gazette I no. 71/2009, is amended as follows:

1. in article 1, paragraph 2, is omitted the phrase "and heard UGB the parent company a stake in accordance with section 228 or the other under the uniform management companies (subsidiaries)".

2. in article 23, paragraph 2, the second sentence is omitted.

The following paragraph 11 is added to § 3. 32:

"(11) section 1 para 2 in the version of Federal Law Gazette I 22/2015 is no. 20 July 2015 in force and is to apply for the first time to fiscal years after 31 December 2015 start. Business year that started before January 1, 2016, § 1 para 2 as amended before the Federal Law Gazette is I No 22/2015 continues to apply."

Article 6

Change of the SE-law

The SE Act, Federal Law Gazette I no. 67/2004, amended by Federal Law Gazette I no. 53/2011, is amended as follows:

1. in article 65, paragraph 1, the phrase is omitted "as well as the § 222 para 1 and 281 UGB".

The following paragraph 8 is added to § 2. 67:

"(8) § 65 in the version of Federal Law Gazette I 22/2015 is no. 20 July 2015 in force and is to apply to non-compliance with the obligations referred to in article 65 which are used or continue after July 19, 2015."

Article 7

Amendment of the 2002 Association Act

The 2002 Association Act, Federal Law Gazette I no. 66/2002, as last amended by Federal Law Gazette I no. 161/2013, is amended as follows:

1. in article 22, paragraph 2, the reference is "§§ 222 to 226 para 1, 226 para 3 to 234, 236-239, 242, 269 (1) and 272 to 276 UGB" by the reference "§§ 222-234, 236-240, 242 para 2-4, 269 (1) and 272 to 276 UGB" replaced.

13 the following paragraph is added to § 2. 33:

"(13) section 22 par. 2 in the version of Federal Law Gazette I 22/2015 is no. 20 July 2015 in force and is to apply for the first time to fiscal years after 31 December 2015 start. Business year that started before January 1, 2016, section 22 amended before the Federal Law Gazette is I 22/2015 continues to apply Nr."

Article 8

Amendment to the income tax Act 1988

The income tax Act 1988, Federal Law Gazette No. 400/1988, as last amended by the Federal Act Federal Law Gazette I no. 40/2014, is amended as follows:

1. in paragraph 6, subpara 2 lit. the last sentence is a.

2. paragraph 6 Z 13:



"13 are in accordance with company law principles of proper accounting in the corporate legal financial statements of a later business year assets revalued (write-up), prevail this appreciation also for the tax value approach and increase the tax income of this year."

3. in article 8, paragraph 2, second sentence, the following is inserted:

"This can be done regardless of the treatment in the corporate legal financial statements and is in the system directory."

4. Article 12 is amended as follows:

(a) in paragraph 1 the following sentence is added:

"The dismissal can be made regardless of the treatment in the corporate legal financial statements and is in the system directory."

(b) in paragraph 8, the following two sentences are inserted in place of the second sentence:

"This can be done regardless of the treatment in the corporate legal financial statements. This reserve is to describe and to keep for tax purposes in evidence."

5. in paragraph 13, second sentence, the following is inserted:

"This can be done regardless of the treatment in the corporate legal financial statements."

6. in paragraph 124 (b) the following paragraphs 269, 270 and 271 are added:



"269. § 6 No. 2 lit. a and section 6 Z 13 each as amended by the amendment Act of the accounting 2014, Federal Law Gazette I 22/2015, are to apply for the first time for fiscal years beginning after December 31, 2015.

270. a)

As far as in the first marketing year that begins after the 31.12.2015, due to an impairment occurred already before this year is a write-up in accordance with section 208 of the corporate law in the version of Federal Law Gazette I no. 22/2015 must be carried out, this write-up also for tax purposes is relevant and effective control. The reversal amount for the relevant asset can be done to on the basis of one but in the tax declaration (statement) made application for a write-up reserve. The write-up reserve shall to the extent tax effective to resolve, as the value of the relevant asset falls below the part value relevant to the formation of the reserve of the attribution or a deposition for wear within the meaning of paragraphs 7 and 8 is made. The write-up reserve shall at the latest at the time of the withdrawal of the concerned asset from business assets tax-effective to resolve.

b) assets, for a write-up reserves in accordance with letter. a has been made, shall be disclosed in a directory. In this directory, the tax balance sheet of the relevant asset, as well as the attribution reserve until the retirement of the asset from its assets are evident every year to keep.

271. § 8 par. 2 EStG 1988, article 12, paragraph 1 and paragraph 8 EStG 1988 and § 13 EStG 1988, as amended by the accounting change Act 2014, BGBl. 22/2015, are no. to apply for the first time for fiscal years beginning after December 31, 2015. Existing untaxed reserves (including revaluation reserves) within the meaning of section 906, para 31 UGB independently from the company law financial statements as fiscal reserves continue; "are on these (UGB) and § 6 Z 13 § 205 first sentence EStG 1988, each as amended before the accounting change law 2014, Federal Law Gazette I no. 22/2015, accordingly continue to apply."

Fischer

Faymann

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