{"id":996,"date":"2019-02-27T13:43:18","date_gmt":"2019-02-27T12:43:18","guid":{"rendered":"http:\/\/wordpress.p497547.webspaceconfig.de\/?p=996"},"modified":"2019-02-27T13:45:54","modified_gmt":"2019-02-27T12:45:54","slug":"mergers-acquisition-and-taxes","status":"publish","type":"post","link":"https:\/\/traumannconsulting.com\/en\/mergers-acquisition-and-taxes\/","title":{"rendered":"Mer\u00adgers &<\/span> Acqui\u00adsi\u00adti\u00adon and Taxes"},"content":{"rendered":"

[vc_\u200brow css_\u200banimation=\u201d\u201d row_type=\u201crow\u201d use_row_as_full_screen_section=\u201cno\u201d type=\u201cgrid\u201d angled_section=\u201cno\u201d text_align=\u201cleft\u201d background_image_as_pattern=\u201cwithout_pattern\u201d z_\u200bindex=\u201d\u201d kswr_row_top_decor_enabled=\u201cfalse\u201d kswr_row_bottom_decor_enabled=\u201cfalse\u201d][vc_column width=\u201c1\/4\u201d css=\u201d.vc_custom_1551088779656{padding-top: 3% !important;padding-bottom: 3% !important;}\u201d][\/vc_column][vc_column width=\u201c3\/4\u201d css=\u201d.vc_custom_1551088786847{padding-top: 3% !important;padding-bottom: 3% !important;}\u201d][vc_column_text]\u201cIgno\u00adran\u00adce of tax laws does not exempt from the obli\u00adga\u00adti\u00adon to pay tax. But often the know\u00adledge.\u201d
\n<\/em>Mey\u00ader A. Roth\u00adschild, Ban\u00adker (1744\u20131812)[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]\u201cThe tax law is so com\u00adpli\u00adca\u00adted and obscu\u00adre as fog with visi\u00adbi\u00adli\u00adty in 50 m.\u201d<\/em>
\nHein\u00adrich List, for\u00admer Pre\u00adsi\u00addent of the BFH<\/span> (Federal Finan\u00adce Court, Germany)[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]Business Sel\u00adler and Buy\u00ader, both par\u00adties have an inte\u00adrest to opti\u00admi\u00adze their taxes, becau\u00adse, as for\u00admer Ger\u00adman Chan\u00adcellor Hel\u00admut Schmidt said: \u201cWho has the duty to pay taxes, also has the right to save taxes\u201d<\/em>[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]The inte\u00adrests of both par\u00adties shape the tech\u00adnic of M&<\/span>A and its opti\u00admiz\u00ada\u00adti\u00adon of taxes. For a suc\u00adcess\u00adful Deal, the M&<\/span>A Con\u00adsul\u00adtants will access the tax situa\u00adtions of sel\u00adler and buy\u00ader and inte\u00adgra\u00adte the deman\u00adds into a satis\u00adfac\u00adto\u00adry for both side, via\u00adble tran\u00adsac\u00adtion con\u00adcept, appro\u00adved by the tax advi\u00adsers of both par\u00adties. This also means tax advan\u00adta\u00adges and dis\u00adad\u00advan\u00adta\u00adges in terms of pos\u00adsi\u00adble step-up volu\u00adme to be weig\u00adhed and inte\u00adgra\u00adted in an over\u00adall pri\u00adce, terms and war\u00adran\u00adty model.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]The fol\u00adlowing state\u00adments about taxes, can only be a first rudi\u00admen\u00adta\u00adry infor\u00adma\u00adti\u00adon. Legal form, com\u00adpa\u00adny legal histo\u00adry, share or asset deal, tax figu\u00adres, the per\u00adso\u00adnal inte\u00adrests and the tax situa\u00adti\u00adon of the share\u00adhol\u00adders have among others a signi\u00adfi\u00adcant influ\u00adence on an opti\u00admal tran\u00adsac\u00adtion struc\u00adtu\u00adre and tax design which should be che\u00adcked by a tax expert.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

1. Taxes sel\u00adler side<\/strong><\/span><\/h2>\n

Depen\u00adding on the legal form of the sel\u00adling com\u00adpa\u00adny and accord\u00ading to the legal form of the Share\u00adhol\u00adder the\u00adre are dif\u00adfe\u00adrent tax regimes to be obser\u00adved. On the issue of the tre\u00adat\u00adment of dis\u00adpo\u00adsal los\u00adses should not be dealt with here.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

1.1 Sale of a pri\u00adva\u00adte com\u00adpa\u00adny or indi\u00advi\u00addu\u00adal com\u00adpa\u00adny<\/strong><\/span><\/h3>\n

Pri\u00adva\u00adte com\u00adpa\u00adnies and natu\u00adral per\u00adsons are to be trea\u00adted simi\u00adlar\u00adly for taxa\u00adti\u00adon. Part\u00adners\u00adhips, as a mer\u00adger of several natu\u00adral per\u00adsons, the inco\u00adme of tho\u00adse Part\u00adners\u00adhips the is deter\u00admi\u00adned in the frame\u00adwork of a sepa\u00adra\u00adte and uni\u00adform pro\u00adfit state\u00adment and attri\u00adbu\u00adt\u00aded to the share\u00adhol\u00adders accord\u00ading to their respec\u00adti\u00adve share. Depen\u00adding on the legal form of the share\u00adhol\u00adder, dif\u00adfe\u00adren\u00adces ari\u00adse in the tax assessment.[\/vc_column_text][vc_column_text]<\/p>\n

1.1.2 Share\u00adhol\u00adder is a natu\u00adral per\u00adson<\/strong><\/span><\/h4>\n

If the ent\u00adi\u00adre shares of a share\u00adhol\u00adder in a com\u00adpa\u00adny are sold, this is sub\u00adject to a redu\u00adced tax rate. In this case, no com\u00admer\u00adcial tax will ari\u00adse. Are howe\u00adver only parts of a co-entrepreneur\u2019s share sold, this is regar\u00added as con\u00adti\u00adnuous inco\u00adme from tra\u00adde or busi\u00adness, with the result of the full inco\u00adme and com\u00admer\u00adcial tax.<\/p>\n

The redu\u00adced rate of taxa\u00adti\u00adon can be the 1\/5 rule (i.e. the capi\u00adtal gain is dis\u00adtri\u00adbu\u00adt\u00aded fac\u00adtious\u00adly over 5 years, the then cal\u00adcu\u00adla\u00adted tax amount is taken by 5, in this way top tax rates should be com\u00adpen\u00adsa\u00adted for). The other pos\u00adsi\u00adbi\u00adli\u00adty is, when the tax\u00adable per\u00adson has pas\u00adsed the age of 55 years or he\/\u200bshe is per\u00adma\u00adnent\u00adly unab\u00adle to work, he once in the life has the right to a redu\u00adced tax rate of 56% of the average tax rate for capi\u00adtal gains, ins\u00adtead of the 1\/5 rule. This app\u00adlies to capi\u00adtal gains up to \u20ac 5 mil\u00adli\u00adon. Fur\u00adther the\u00adre is a tax exemp\u00adti\u00adon of 45.000,00 \u20ac which melts away by the amount that exceeds \u20ac 136.000,00 of capi\u00adtal gains.[\/vc_column_text][vc_column_text]<\/p>\n

1.1.3 Share\u00adhol\u00adders is a coope\u00adra\u00adti\u00adon<\/strong><\/span><\/h4>\n

In case a coope\u00adra\u00adti\u00adon (e.g. pri\u00adva\u00adte-law cor\u00adpo\u00adra\u00adti\u00adons: GmbH, UG<\/span>, AG<\/span>, e.V, coope\u00adra\u00adti\u00adve) is share\u00adhol\u00adder of a Part\u00adners\u00adhip, the gains on dis\u00adpo\u00adsal is in regards cor\u00adpo\u00adra\u00adte and com\u00admer\u00adcial tax ful\u00adly tax\u00adable. (Cur\u00adr\u00adent\u00adly cor\u00adpo\u00adra\u00adte tax is 15% as well as appro\u00adxi\u00admate\u00adly 14% tra\u00adde tax at a com\u00admu\u00adni\u00adty mul\u00adti\u00adplier of 400). The com\u00admer\u00adcial tax is app\u00adlied to Part\u00adners\u00adhip. Tax deb\u00adtor is in this case the Part\u00adners\u00adhip, not the coope\u00adra\u00adti\u00adon.<\/p>\n

The capi\u00adtal gain or loss is on cor\u00adpo\u00adra\u00adte inco\u00adme tax level sett\u00adled with the los\u00adses or pro\u00adfits of the cor\u00adpo\u00adra\u00adti\u00adon, while in respect of the com\u00admer\u00adcial tax this is done on the level the Partnership.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

1.2 Sale of a cor\u00adpo\u00adra\u00adti\u00adon<\/strong><\/span><\/h3>\n

For capi\u00adtal gains from shares in a cor\u00adpo\u00adra\u00adti\u00adon it is for taxa\u00adti\u00adon decisi\u00adve whe\u00adther the shares are held by a cor\u00adpo\u00adra\u00adti\u00adon or a natu\u00adral per\u00adson. In the case, they are held by a natu\u00adral per\u00adson, it is necessa\u00adry to cla\u00adri\u00adfy whe\u00adther the shares belong to the pri\u00adva\u00adte or busi\u00adness assets. If the shares are held as pri\u00adva\u00adte assets, the ques\u00adti\u00adon of the par\u00adti\u00adci\u00adpa\u00adti\u00adon level of the last 5 years is of significance.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

1.2.1 The sel\u00adler is a natu\u00adral per\u00adson and holds the shares in the pri\u00adva\u00adte assets<\/strong><\/span><\/h4>\n

The par\u00adti\u00adci\u00adpa\u00adti\u00adon was direct\u00adly and indi\u00adrect\u00adly in the last 5 years never 1% of the capi\u00adtal of the com\u00adpa\u00adny, in this case the gains on dis\u00adpo\u00adsal are taxed with with\u00adhol\u00adding tax (25%) plus the soli\u00adda\u00adri\u00adty surch\u00adar\u00adge as well as any church tax, if app\u00adli\u00adca\u00adble. Deduc\u00adti\u00adble on capi\u00adtal gains are howe\u00adver only cos\u00adts direct\u00adly lin\u00adked to the sale of busi\u00adness.<\/p>\n

The capi\u00adtal share was grea\u00adter than or equal to 1% in the last five years, the gains on dis\u00adpo\u00adsal are sub\u00adject to taxa\u00adti\u00adon of inco\u00adme from tra\u00adde or busi\u00adness and thus to the par\u00adti\u00adal inco\u00adme sys\u00adtem (Teil\u00adein\u00adk\u00fcnf\u00adte\u00adver\u00adfah\u00adren). They are not sub\u00adject to com\u00admer\u00adcial tax.<\/p>\n

The par\u00adti\u00adal inco\u00adme sys\u00adtem (Teil\u00adein\u00adk\u00fcnf\u00adte\u00adver\u00adfah\u00adren) means that the gains on dis\u00adpo\u00adsal are redu\u00adced by 40%, that means only 60% of capi\u00adtal gains are taxed with per\u00adso\u00adnal tax rate of the sel\u00adler. I.e. based on the maxi\u00admum tax rate (45%) this results in a load of approx. 27% plus soli\u00adda\u00adri\u00adty surch\u00adar\u00adge and any church tax on the total capi\u00adtal gains. In the rever\u00adse case, expen\u00adses about the share sale, only 60% are deduc\u00adti\u00adble.<\/p>\n

In addi\u00adti\u00adon, a tax exemp\u00adti\u00adon of 9060,00\u20ac for a 100% share\u00adhol\u00adding, is app\u00adlied, but this tax exemp\u00adti\u00adon melts by the amount the gains on dis\u00adpo\u00adsal exceed 36.100 Euro.<\/p>\n

The \u00a7 6b of the Inco\u00adme Tax Act allows indi\u00advi\u00addu\u00adal entre\u00adpre\u00adneurs and Part\u00adners\u00adhips to trans\u00adfer the capi\u00adtal gains from the sale of a cor\u00adpo\u00adra\u00adti\u00adon to 100% to new\u00adly purcha\u00adsed shares of cor\u00adpo\u00adra\u00adti\u00adons and as far as the gains on dis\u00adpo\u00adsal are not exempt from taxa\u00adti\u00adon per \u00a7 3 No 40 sen\u00adtence 1 in con\u00adjunc\u00adtion with \u00a7 3c para. 2 of the EStG to new\u00adly purcha\u00adsed buil\u00addings (not land) and mova\u00adble assets.<\/p>\n

This achie\u00adves a qua\u00adsi-tax-free trans\u00adfer of the capi\u00adtal gains com\u00adpa\u00adra\u00adble to the situa\u00adti\u00adon of cor\u00adpo\u00adra\u00adti\u00adons, whe\u00adre capi\u00adtal gains are in accordance with \u00a7 8b in princip\u00adle tax-free (restric\u00adtion: \u00a7 8b para. 3 sen\u00adtence 1 of the Ger\u00adman Cor\u00adpo\u00adra\u00adti\u00adon Tax Act (KStG).[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

1.2.2 The sel\u00adler is a natu\u00adral per\u00adson and holds the shares in his busi\u00adness assets<\/strong><\/span><\/h4>\n

In this case, the gains on dis\u00adpo\u00adsal belong to the ongo\u00ading com\u00admer\u00adcial inco\u00adme and are sub\u00adject to the par\u00adti\u00adal inco\u00adme sys\u00adtem (Teil\u00adein\u00adk\u00fcnf\u00adte\u00adver\u00adfah\u00adren), i.e. 60% of the capi\u00adtal gains less 60% of expen\u00adses are taxed. On com\u00admer\u00adcial tax level also 60% of capi\u00adtal gains less 60% of the expen\u00adses. Howe\u00adver, the\u00adre is no addi\u00adti\u00adon of tax-free inco\u00adme in accordance with \u00a7 8 No. 5 GewStG. In the case of capi\u00adtal gains a tax exemp\u00adti\u00adon of \u20ac 24.50 0.00 is avail\u00adab\u00adle. In the case that after this exemp\u00adti\u00adon the\u00adre is still a com\u00admer\u00adcial tax, this com\u00admer\u00adcial tax will be sett\u00adled with per\u00adso\u00adnal inco\u00adme tax (\u00a735 EStG). As long as the com\u00admu\u00adni\u00adty mul\u00adti\u00adplier don\u2018t exceeds 380% this will result to a full dischar\u00adge of com\u00admer\u00adcial tax, mul\u00adti\u00adpliers bey\u00adond 380% will result in a com\u00admer\u00adcial tax burden.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

1.2.3 The sel\u00adler is a cor\u00adpo\u00adra\u00adti\u00adon<\/strong><\/span><\/h4>\n

The inco\u00adme from the sale of a cor\u00adpo\u00adra\u00adti\u00adon is in the dive\u00ads\u00adting cor\u00adpo\u00adra\u00adti\u00adon to 95% tax free. I.e. 5% of the gains on dis\u00adpo\u00adsal will be con\u00adsi\u00adde\u00adred non-deduc\u00adti\u00adble ope\u00adra\u00adting expen\u00adses and trea\u00adted with 15% cor\u00adpo\u00adra\u00adti\u00adon tax plus soli\u00adda\u00adri\u00adty surch\u00adar\u00adge tax. The same app\u00adlies in the case of the com\u00admer\u00adcial tax. This does not app\u00adly to credit and finan\u00adcial ser\u00advices institutions.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

1.2.4 Sel\u00adler is a part\u00adners\u00adhip<\/strong><\/span><\/h4>\n

In this case the legal form of the share\u00adhol\u00adders of the part\u00adners\u00adhip rules the taxa\u00adti\u00adon, sin\u00adce the part\u00adners\u00adhip is trans\u00adpa\u00adrent and only in regards to the com\u00admer\u00adcial tax a tax sub\u00adject. In so far the state\u00adments in regards to natu\u00adral per\u00adsons and cor\u00adpo\u00adra\u00adti\u00adons app\u00adly accord\u00adin\u00adgly.<\/p>\n

In regards to the com\u00admer\u00adcial tax the part\u00adners\u00adhip is tax sub\u00adject. Is the share\u00adhol\u00adder of the sel\u00adling part\u00adners\u00adhip a cor\u00adpo\u00adra\u00adti\u00adon, 5% (non\u00adde\u00adduc\u00adti\u00adble ope\u00adra\u00adting expen\u00adses) of the capi\u00adtal gains are sub\u00adject to the com\u00admer\u00adcial taxes. Is the share\u00adhol\u00adders of the sel\u00adling part\u00adners\u00adhip a natu\u00adral per\u00adson, 60 % of the dis\u00adpo\u00adsal gain is sub\u00adject to com\u00admer\u00adcial taxes. If the share\u00adhol\u00adders are natu\u00adral per\u00adsons and corporation\u2019s taxa\u00adti\u00adon is deter\u00admi\u00adned by the respec\u00adti\u00adve share\u00adhol\u00addings.<\/p>\n

This only brief\u00adly mar\u00adked tax topics, on the seller\u2019s side, which can be, depen\u00adding on the per\u00adso\u00adnal as well as ope\u00adra\u00adting situa\u00adti\u00adon, as com\u00adplex as you wish, are con\u00adse\u00adquent\u00adly oppo\u00adsed by the inte\u00adrests of a poten\u00adti\u00adal acquirer.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

2. Tax assess\u00adment acqui\u00adrer<\/strong><\/span><\/h2>\n

For a suc\u00adcess\u00adful deal, always both sides are to be obser\u00adved. In most cases the acqui\u00adrer has an inte\u00adrest to trans\u00adform the purcha\u00adse pri\u00adce as com\u00adple\u00adte\u00adly as pos\u00adsi\u00adble in tax-redu\u00adcing depre\u00adcia\u00adti\u00adon poten\u00adti\u00adal. Essen\u00adti\u00adal\u00adly the inte\u00adrests of the acqui\u00adrer sum\u00adma\u00adri\u00adze as follows:[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

    \n
  1. Tax opti\u00admi\u00adzed dis\u00adtri\u00adbu\u00adti\u00adon of the purcha\u00adse pri\u00adce to the acqui\u00adred assets, inclu\u00adding good\u00adwill<\/li>\n
  2. Tax effec\u00adti\u00adve detec\u00adtion of hid\u00adden reser\u00adves by rest\u00adruc\u00adtu\u00adring mea\u00adsu\u00adres after clo\u00adsing<\/li>\n
  3. Tax opti\u00admal finan\u00adcing of the purcha\u00adse pri\u00adce<\/li>\n
  4. Avo\u00adid\u00adance of addi\u00adtio\u00adnal bur\u00addens cau\u00adsed by tran\u00adsac\u00adtion taxes and pro\u00adper\u00adty acqui\u00adsi\u00adti\u00adon tax<\/li>\n
  5. As far as pos\u00adsi\u00adble use of acqui\u00adred loss car\u00adry\u00adfor\u00adwards<\/li>\n<\/ol>\n

    [\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]The pos\u00adsi\u00adbi\u00adli\u00adty to trans\u00adform the purcha\u00adse pri\u00adce into tax opti\u00admi\u00adzing depre\u00adcia\u00adti\u00adon poten\u00adti\u00adal, exist for a share deal only for the purcha\u00adse of part\u00adners\u00adhip shares, while this pos\u00adsi\u00adbi\u00adli\u00adty is lar\u00adge\u00adly not pos\u00adsi\u00adble for the purcha\u00adse of shares of cor\u00adpo\u00adra\u00adti\u00adon. An Asset Deal, which trans\u00adforms the purcha\u00adse pri\u00adce in depre\u00adcia\u00adti\u00adon poten\u00adti\u00adal, is stron\u00adgly depen\u00adding on the sta\u00adtus of the com\u00adpa\u00adny and may but also may not make sen\u00adse. Espe\u00adcial\u00adly the impact on the sel\u00adler side needs to be con\u00adsi\u00adde\u00adred.<\/p>\n

    Cur\u00adr\u00adent\u00adly, only with an Asset Deal the purcha\u00adse pri\u00adce for a cor\u00adpo\u00adra\u00adti\u00adon can be unpro\u00adble\u00adma\u00adti\u00adcal\u00adly trans\u00adfor\u00admed into depre\u00adcia\u00adti\u00adon poten\u00adti\u00adal. The various models to trans\u00adform the purcha\u00adse pri\u00adce of cor\u00adpo\u00adra\u00adti\u00adon into depre\u00adcia\u00adti\u00adon poten\u00adti\u00adal, like down\u00adstream mer\u00adger, com\u00adbi\u00adna\u00adti\u00adon model, trans\u00adfor\u00adma\u00adti\u00adon model, part\u00adner model, have been ruled out by legis\u00adla\u00adtor during the last years. Inso\u00adfar the\u00adse models are not sub\u00adject of this arti\u00adcle.<\/p>\n

    The inter\u00adcom\u00adpa\u00adny grou\u00adping model crea\u00adtes, in a share deal still limi\u00adted depre\u00adcia\u00adti\u00adon potential.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

    2.1 Inter\u00adcom\u00adpa\u00adny grou\u00adping model<\/strong><\/span><\/h3>\n

    The shares of the tar\u00adget com\u00adpa\u00adny are acqui\u00adred by a sub\u00adsi\u00addia\u00adry com\u00adpa\u00adny foun\u00added by the acqui\u00adrer in the legal form of a GmbH &<\/span> Co KG<\/span> (with one or more natu\u00adral per\u00adsons as limi\u00adted part\u00adners and without capi\u00adtal par\u00adti\u00adci\u00adpa\u00adti\u00adon of the gene\u00adral part\u00adner). Bet\u00adween the GmbH &<\/span> Co KG<\/span> as the con\u00adtrol\u00adling com\u00adpa\u00adny and the tar\u00adget com\u00adpa\u00adny as a sub\u00adsi\u00addia\u00adry com\u00adpa\u00adny a fis\u00adcal uni\u00adon for cor\u00adpo\u00adra\u00adte and com\u00admer\u00adcial tax pur\u00adpo\u00adses is estab\u00adlis\u00adhed. After\u00adwards the assets with hid\u00adden reser\u00adves of the tar\u00adget com\u00adpa\u00adny are sold in an inter\u00adnal asset deal to the GmbH &<\/span> Co KG<\/span>. The resul\u00adting capi\u00adtal gain is neu\u00adtra\u00adli\u00adzed by a cur\u00adrent value depre\u00adcia\u00adti\u00adon. The limi\u00adted partner\u2019s share and the share in the gene\u00adral part\u00adner GmbH is after\u00adwards sold to the acqui\u00adrer. This pro\u00adce\u00addu\u00adre is limi\u00adted sin\u00adce \u00a7 3c para 3 sen\u00adtence 2 EStG limits impairments of the shares of a con\u00adtrol\u00adling com\u00adpa\u00adny to 60%. The\u00adre\u00adfo\u00adre, also the inter\u00adcom\u00adpa\u00adny grou\u00adping model is sub\u00adstan\u00adti\u00adal\u00adly impaired.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

    2.2 Sel\u00adler con\u00adver\u00adsi\u00adon model.<\/strong><\/span><\/h3>\n

    A fur\u00adther pos\u00adsi\u00adbi\u00adli\u00adty to crea\u00adte depre\u00adcia\u00adti\u00adon poten\u00adti\u00adal is the sel\u00adler con\u00adver\u00adsi\u00adon model. The tar\u00adget com\u00adpa\u00adny is trans\u00adfor\u00admed by the sel\u00adler pri\u00ador to clo\u00adsing in a part\u00adners\u00adhip, qui\u00adte often a GmbH &<\/span> Co KG<\/span>. After\u00adwards the shares are sold to the acqui\u00adrer. The purcha\u00adser recei\u00adves in this way, on a secu\u00adre legal basis, the desi\u00adred tax-redu\u00adcing depre\u00adcia\u00adti\u00adon poten\u00adti\u00adal. This model results in a tax bur\u00adden for the sel\u00adler and only makes sen\u00adse if the shares are shares issue\u00addin return for a con\u00adtri\u00adbu\u00adti\u00adon in kind below fair mar\u00adket value\u00adpur\u00adsuant to \u00a7\u00a7 20, 23 UmwStG and are still wit\u00adhin the blo\u00adcking peri\u00adod, which were ful\u00adly tax\u00adable.  To note, the\u00adre are still pos\u00adsi\u00adb\u00adly adver\u00adse tax con\u00adse\u00adquen\u00adces in the case of a pos\u00adsi\u00adble return of con\u00adver\u00adsi\u00adon into a corporation.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

    2.3 Sales Tax (VAT<\/span>)<\/strong><\/span><\/h3>\n

    The acqui\u00adsi\u00adti\u00adon of com\u00adpa\u00adny shares is not sub\u00adject to the sales tax (VAT<\/span>). The sales tax legal con\u00adcept of the busi\u00adness unit is simi\u00adlar to the inco\u00adme tax con\u00adcept of par\u00adti\u00adal operation.[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][vc_column_text]<\/p>\n

    2.4 Real Esta\u00adte trans\u00adfer tax<\/strong><\/span><\/h3>\n

    Real Esta\u00adte trans\u00adfer tax ari\u00adses if wit\u00adhin the assets of the acqui\u00adred cor\u00adpo\u00adra\u00adti\u00adon are pro\u00adper\u00adties and in the con\u00adtrol of acqui\u00adrer are 95% of the shares, direct\u00adly or indi\u00adrect\u00adly. In the case of part\u00adners\u00adhips with pro\u00adper\u00adty assets, the real esta\u00adte trans\u00adfer tax is also trig\u00adge\u00adred if wit\u00adhin 5 years at least 95% of the shares in the hands of the acqui\u00adrer. Also for pro\u00adper\u00adty the\u00adre are various tax opti\u00admiz\u00ada\u00adti\u00adon models. Sin\u00adce tho\u00adse models may influ\u00adence the inco\u00adme tax sec\u00adtor they need be clo\u00adse\u00adly moni\u00adto\u00adred and coor\u00addi\u00adna\u00adted.<\/p>\n

    From the abo\u00adve-men\u00adtio\u00adned state\u00adments, which refer only to tran\u00adsac\u00adtions in Ger\u00adma\u00adny. It beco\u00admes obvious that the sub\u00adject of taxa\u00adti\u00adon has an signi\u00adfi\u00adcant influ\u00adence on tran\u00adsac\u00adtion design. The expe\u00adri\u00aden\u00adced M&<\/span>A Con\u00adsul\u00adtants, depen\u00adding on the situa\u00adti\u00adon, the per\u00adso\u00adnal pre\u00adfe\u00adren\u00adces of the cli\u00adent and the mar\u00adket needs and oppor\u00adtu\u00adnities will deve\u00adlop a tran\u00adsac\u00adtion model, coor\u00addi\u00adna\u00adted with the respec\u00adti\u00adve tax advi\u00adsers, which will result in an opti\u00admum result for both par\u00adties.<\/p>\n

    This con\u00adtri\u00adbu\u00adti\u00adon has been crea\u00adted with care. Any lia\u00adbi\u00adli\u00adty (for the cor\u00adrect\u00adness of the infor\u00adma\u00adti\u00adon) is exclu\u00added. (as of Dec. 2016)[\/vc_column_text][vc_separator type=\u201ctransparent\u201d thickness=\u201c15\u201d up=\u201c0\u201d down=\u201c0\u201d][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

    Busi\u00adness Sel\u00adler and Buy\u00ader, both par\u00adties have an inte\u00adrest to opti\u00admi\u00adze their taxes, becau\u00adse, as for\u00admer Ger\u00adman Chan\u00adcellor Hel\u00admut Schmidt said: \u201cWho has the duty to pay taxes, also has the right to save taxes\u201d<\/p>\n","protected":false},"author":1,"featured_media":988,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0},"categories":[24],"tags":[],"_links":{"self":[{"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/posts\/996"}],"collection":[{"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=996"}],"version-history":[{"count":0,"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/posts\/996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/media\/988"}],"wp:attachment":[{"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/traumannconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}