nachschätzung

Nachschätzung is a German term that translates to "additional assessment" or "reassessment" in English. It refers to a process where a tax authority or other governing body revisits a previously made assessment. This can occur for several reasons, most commonly due to new information coming to light that was not available at the time of the initial assessment.

In a tax context, a nachschätzung might be initiated if discrepancies are found between declared income and other financial records, or if evidence of undeclared income emerges. It can also be triggered by changes in the law or court rulings that affect the original assessment. The purpose of a nachschätzung is to ensure the correct amount of tax or other liability is paid, correcting any underpayments that may have occurred.

The process typically involves the authority notifying the individual or entity of the impending reassessment and providing an opportunity to present their case or submit additional documentation. If the nachschätzung results in a higher liability, the individual will generally be required to pay the additional amount, potentially with interest or penalties. The specific rules and procedures for a nachschätzung vary depending on the jurisdiction and the type of assessment being reviewed. It is a mechanism to maintain the integrity of fiscal systems and ensure fairness.