Navigating the intricacies of German tax requirements is crucial for self-employed professionals, especially when it comes to renewing your freelance visa. The Gewinnermittlung, or net determination letter, plays a pivotal role in this process.
This detailed profit and loss statement documents your income and expenses for the financial year. Submitting this to the Finanzamt annually is standard practice, but for visa renewals, a more formalized version signed by a registered tax accountant is essential.
In this guide, we will walk you through preparing your Gewinnermittlung, finding a tax advisor for verification, and leveraging the Accountable app to simplify the entire process.
Your profit and loss statement is used to document your income and expenses for a specific financial year. In Germany the financial year runs just like the calendar, from January to December.
As a freelancer, you will always submit information about your income and expenses to the Finanzamt each year (if you are subject to VAT, you will of course also file monthly or quarterly VAT returns in addition to the yearly statement). You can use Accountable to prepare and send your VAT return to the Finanzamt with just a few clicks.
But if you’re applying for a freelance visa renewal in Germany, you’ll need to prepare a more formalised Gewinnermittlung and have it signed off by a registered tax accountant.
The Gewinnermittlung is a key component of your application for a freelance visa renewal. The immigration office (often called the Ausländerbehörde, or now the Landesamt für Einwanderung in Berlin) will use the Gewinnermittlung to determine whether you have been making enough money to support yourself as a freelancer, and use this information to help decide whether to grant your via extension.
The good news is, you can save yourself some money (and often a long wait) by preparing the document yourself, using our handy template!
This Gewinnermittlung template can also be used when applying for a flat rental – landlords will often ask for a Gewinnermittlung as part of your rental application. As with the immigration office, it can go a long way in terms of establishing trust with a landlord to have your Gewinnermittlung signed off by a registered tax accountant even though there is no legal obligation to do so.
💡Tip from Accountable: The Gewinnermittlung is sometimes referred to as the Netto Gewinnermittlung (in English: Net income determination or profit and loss statement).
| Gewinnermittlung | ||
| vom 1.1.2019 bis 31.12.2019 | ||
| EUR | EUR | |
| A. BETRIEBSEINNAHMEN | ||
| (Operating income) | ||
| 1. Einnahmen aus freiberuflicher Tätigkeit | 20.500,00 | |
| (Freelance income) | ||
| 2. Umsatzsteuer | 3.895,00 | |
| (VAT collected) | ||
| SUMME BETRIEBSEINNAHMEN | 24.395,00 | |
| (Total operating income) | ||
| B. BETRIEBSAUSGABEN | ||
| (Operating costs) | ||
| 1. Werbe- und Reisekosten | 4.500,00 | |
| (Business expenses, including travel) | ||
| 2. Verschiedene Kosten | 2.100,00 | |
| (Bills including rent and electricity) | ||
| 3. Vorsteuer | 0,00 | |
| (Advance income tax payments) | ||
| 4. Umsatzsteuer-Zahlung | 3.895,00 | |
| (VAT paid throughout the year) | ||
| SUMME BETRIEBSAUSGABEN | 10.495,00 | |
| (Total operating costs) | ||
| C. STEUERLICHER GEWINN | 13.900,00 | |
| (Taxable profit) |
The number at the bottom, Steuerlicher Gewinn, or taxable profit, will give your visa case worker a good indication of whether you are able to support yourself with your freelance work.
Once you have prepared your Gewinnermittlung, you’ll need to find a registered tax advisor to review it and sign it off. Make sure to keep all your invoices and receipts filed in case they need to check any details – this is also important in case you get audited by the Finanzamt.
💡 Tip from Accountable: Accountable is the tax software for everyone who's self-employed in Germany. You can save expenses and invoices with a few clicks and have them ready for any audit. With Accountable, you can also prepare all tax returns and send them directly to the Finanzamt. Test Accountable now!
Tax advisors are in hot demand in Germany, and getting the paperwork you need for your visa can often mean a long wait. The best way is therefore to start looking early in order to get an appointment in time. Here are some tips to find a tax advisor for preparing crucial documents like the Gewinnermittlung for visa renewals:
💡Learn more about taxes for freelancers in Germany:
5 common mistakes when submitting your tax return
What are tax prepayments and do I have to them?
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Author - Sophia Merzbach
Sophia has been a key member of the Accountable team for many years, bringing a unique blend of journalistic precision and in-depth tax expertise to her work.
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