Porsche will avoid tax payments in the Vw deal

Article by Christian A., on June 12, 2012

Porsche Automobil Holding SE has discovered a means by which the 50.1% left of sports car unit Porsche AG will be sold to Volkswagen Group without having to pay around 1.5 billion euros ($1.9 billion) in tax, according to a report last week on WirtschaftsWoche. The publication first stated that tax authorities think that the agreement was considered to be a restructuring and not a disposal that would relate to tax payments.

This is because Porsche would need a single voting share in Volkswagen as part of the 4.5 billion euro transaction. Sources inside the finance ministry of Baden-Wuerttemberg, the magazine shared that a legally binding notice has been prepared by Porsche SE in Stuttgart. For this model, no vehicle has been tasked to make a stand.

A Porsche spokesman said that it has yet to complete a study of the tax implications of the agreement. Porsche SE is based in Stuttgart, the capital of Baden-Wuerttemberg state.

In the past, Porsche SE had said it would have to wait until 2014 to sell the remaining stake tax-free. But in December 2009, Volkswagen acquired 49.9% of Porsche sports cars for 3.9 billion euros in December 2009 as part of a deal that avoided the probable insolvency of debt-laden parent Porsche SE. A VW spokesman said that it is continuing to study its options.

Topics: porsche, vw

If you liked the article, share on:

Comments

Recommended

The Insurance Institute for Highway Safety gives its Top Safety Pick Award to the 2017 Chevrolet Bolt EV, and they have got videos of it during the crash test procedures...
by - June 22, 2017
The wait is finally over for Dodge enthusiasts; the company will be taking orders for the 2018 Challenger SRT Demon this Wednesday, 21 June. The model will have an asking...
by - June 21, 2017
Earlier this year, German automaker Opel revealed their largest SUV to date, the Grandland X as it made its debut online. The SUV, a European exclusive, comes in a sophisticated...
by - June 21, 2017
As though many would think the Fire Orange is already synonymous to BMW Motorsport, Century West BMW in Lankershim Boulevard, Studio City California went above and beyond in customizing the...
by - June 21, 2017
A lot of people would consider the 2018 Lincoln Navigator an SUV large enough to fit seven passengers comfortably, and still having a lot of cargo space. But not everybody...
by - June 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries