Annual financial statements: More time for disclosure

Shortly before the deadline on 31 December 2023, the Federal Office of Justice announces the extension

Frankfurt am Main

December 22, 2023

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The Federal Office of Justice, in coordination with the Federal Ministry of Justice, announces the long-awaited news on 22 December 2023:

Until April 2, 2024, companies will not face any administrative fines for 2022 annual financial statements that have not yet been published.

In plain language this means:

1. The original deadline for the disclosure of 2022 annual financial statements for small and medium-sized companies, which ends on 31 December 2023, is extended.

2. This measure is a response to the ongoing effects of the COVID-19 pandemic and meets the demands of the German Association of Tax Consultants for a grace period.

3. The time relief is intended to help law firms with a backlog of work, especially smaller and medium-sized firms, which are burdened by additional tasks such as applying for Corona economic aid, final accounts and property tax returns.

The time relief now announced finally takes this fact into account.

The Federal Office of Justice should be advised to synchronize these deadlines in the future. This is because the deadline for disclosing annual financial statements is months before the tax filing deadlines. Synchronizing both deadlines would be a quick and direct contribution to reducing bureaucracy in Germany.