Die umsatzsteuerrechtliche Behandlung von Gutscheinen -Eine kritische Betrachtung der Neuregelungen.

The article reports on the sales tax treatment of vouchers in Germany. It is said that vouchers are becoming increasingly popular as not only are they appealing to the customer, but they also represent an effective tool for customer acquisition and revenue generation due to pre-financing effects and high rates of forfeiture. It discusses one of the new regulations, the so-called Coupon Directive.