{"id":3854,"date":"2018-09-21T09:50:46","date_gmt":"2018-09-21T07:50:46","guid":{"rendered":"https:\/\/honert.de\/restructuring-clause-ecj-declares-aid-decision-null-and-void\/"},"modified":"2019-09-05T14:14:34","modified_gmt":"2019-09-05T12:14:34","slug":"restructuring-clause-ecj-declares-aid-decision-null-and-void","status":"publish","type":"post","link":"https:\/\/honert.de\/en\/restructuring-clause-ecj-declares-aid-decision-null-and-void\/","title":{"rendered":"RESTRUCTURING CLAUSE \u2013 ECJ DECLARES AID DECISION NULL AND VOID"},"content":{"rendered":"\n\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-g21723-10341f1a1aaa019878ab68e458b78db3\">\n.avia-section.av-g21723-10341f1a1aaa019878ab68e458b78db3{\nbackground-repeat:no-repeat;\nbackground-image:url(https:\/\/honert.de\/wp-content\/uploads\/3629.jpg);\nbackground-position:0% 0%;\nbackground-attachment:scroll;\n}\n<\/style>\n<div id='av_section_1'  class='avia-section av-g21723-10341f1a1aaa019878ab68e458b78db3 main_color avia-section-default avia-no-shadow  avia-builder-el-0  el_before_av_section  avia-builder-el-first  hide_on_print avia-full-stretch avia-bg-style-scroll av-minimum-height av-minimum-height-40 av-height-40  container_wrap sidebar_right'  data-section-bg-repeat='stretch' data-av_minimum_height_pc='40' data-av_min_height_opt='40'><div class='container av-section-cont-open' ><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-3854'><div class='entry-content-wrapper clearfix'>\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div><div id='av_section_2'  class='avia-section av-doj4vf-309e072bc8903bf94e2cf3a01ef2f8a6 main_color avia-section-default avia-no-shadow  avia-builder-el-1  el_after_av_section  avia-builder-el-last  avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-3854'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-bxwjqz-9f5c1acca333ca8fb9c3d27f5d10a391\">\n.flex_column.av-bxwjqz-9f5c1acca333ca8fb9c3d27f5d10a391{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-bxwjqz-9f5c1acca333ca8fb9c3d27f5d10a391 av_two_third  avia-builder-el-2  el_before_av_two_third  avia-builder-el-first  first flex_column_div av-zero-column-padding  '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-k06mlhnu-76256c4a2d0d2a235559f6e5c49f43ee\">\n#top .av-special-heading.av-k06mlhnu-76256c4a2d0d2a235559f6e5c49f43ee{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-k06mlhnu-76256c4a2d0d2a235559f6e5c49f43ee .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-k06mlhnu-76256c4a2d0d2a235559f6e5c49f43ee .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-k06mlhnu-76256c4a2d0d2a235559f6e5c49f43ee av-special-heading-h1 blockquote modern-quote  avia-builder-el-3  avia-builder-el-no-sibling '><div class='av-subheading av-subheading_above'>21. September 2018\n<\/div><h1 class='av-special-heading-tag '  itemprop=\"headline\"  >RESTRUCTURING CLAUSE \u2013 ECJ DECLARES AID DECISION NULL AND VOID<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-bcr0mj-ca59242978279f6acddd6f5e1d9b7e65\">\n.flex_column.av-bcr0mj-ca59242978279f6acddd6f5e1d9b7e65{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-bcr0mj-ca59242978279f6acddd6f5e1d9b7e65 av_two_third  avia-builder-el-4  el_after_av_two_third  el_before_av_two_third  first flex_column_div av-zero-column-padding  column-top-margin'     ><section  class='av_textblock_section av-k06mm0rv-2231ab257826a76549e0a75cd007eb1a '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p><strong>A change of shareholder can lead to a proportional or complete elimination of the existing losses of a company. However, this shall not apply if the acquisition of the investment is made with the aim of restructuring the company. Up to now, however, the EU Commission has regarded this so-called restructuring clause as state aid. The European Court of Justice [<em>ECJ<\/em>] has recently declared this state aid decision null and void. Therefore, the restructuring clause can be applied again.<\/strong><!--more--><\/p>\n<\/div><\/section><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-8t64cr-24c3d6a8a1a03fe4880ee9226be95913\">\n.flex_column.av-8t64cr-24c3d6a8a1a03fe4880ee9226be95913{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-8t64cr-24c3d6a8a1a03fe4880ee9226be95913 av_two_third  avia-builder-el-6  el_after_av_two_third  el_before_av_one_third  first flex_column_div av-zero-column-padding  column-top-margin'     ><section  class='av_textblock_section av-k06msddx-3459a7ee590cd58bd6613e5d352a2af5 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2>I. Tax treatment of restructuring profits<\/h2>\n<p>German tax law contains specific restrictions on the deduction of losses in order to avoid misuse of the tax system. Among other things, these are intended to prevent a loss-making company with high losses carried forward from being acquired solely with the intention of offsetting the transferred losses against the profits of the acquirer. The so-called shell company purchase regulation introduced for this purpose (section 8 para. 4 German Corporation Tax Act [<em>K\u00f6rperschaftsteuergesetz \u2013 KStG<\/em>] old version) was replaced by section 8c KStG as part of the 2008 corporate tax reform. Since then, this provision has provided for a proportional or complete forfeiture of losses in the case of share transfers, depending on the extent of the change in shareholding (so-called &#8220;<em>harmful acquisition of shares<\/em>&#8220;).<br \/>\nHowever, the fact that such loss deduction restrictions can also have a crisis aggravating effect and make it considerably more difficult to restructure companies became particularly clear during the 2008 financial and economic crisis.<br \/>\nSubsequently, the so-called restructuring clause (section 8c para. 1a KStG) was introduced on the basis of the restructuring privilege under insolvency law (section 39 para. 4 sentence 2 German Insolvency Code [<em>Insolvenzordnung \u2013 InsO<\/em>]). <\/p>\n<h5>1. Principle of the restructuring clause<\/h5>\n<p>The restructuring clause pursuant to section 8c para. 1a KStG stipulates that in the event of a harmful acquisition of shares, there will be no (proportional) forfeiture of losses if this occurs with the intention of restructuring and continuing the business of the company. Exceptions to this are cases in which business operations were largely already discontinued at the time of acquisition. A change of the industrial sector within a 5-year period also leads to the non-applicability of the restructuring clause (\u00a7 8c para. 1a sentence 4 KStG).<br \/>\nDerogations such as the restructuring clause only apply to selected companies because of their limited scope. In such a case, European state aid law is intended to ensure that there is no discriminatory unequal tax treatment. In the case of the restructuring clause, the EU Commission already initiated an investigation under state aid law when the regulation was introduced in August 2009; the formal investigation under state aid law was then initiated in spring 2010.<\/p>\n<h5>2. State aid assessment of the restructuring clause<\/h5>\n<p>The prohibition of state aid is based on the principle that \u201c<em>any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favoring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the internal market<\/em>\u201d (article 107 para. 1 of the Treaty on the Functioning of the European Union, \u201c<em>TFEU<\/em>\u201d).<br \/>\nFor the specific EU state aid control of tax regulations or measures, independent requirements have been developed through case law. In particular, the criteria of advantage (\u201c<em>preferential treatment<\/em\u201d) and selectivity (\u201c<em>certain undertakings or the production of certain goods<\/em>\u201d) are of decisive importance. It is essential to determine whether the tax rule leads to discriminatory unequal treatment.<br \/>\nIf these conditions are met and a tax measure is subsequently classified as state aid, the tax consequences are likely to be significant. An EU Member State will be required to recover the aid from the beneficiary. In practice, it is particularly problematic that a (possibly retroactive) tax burden is also imminent in the case of final tax assessments and the provision of binding information. There is no protection of confidence in the case of inadmissible state aid.<br \/>\nIn the case of the restructuring clause, the EU Commission came to the conclusion at the beginning of 2011 that it constituted a selective advantage. According to the EU Commission, this cannot be justified by the approved justification either. As a result, the restructuring clause was classified as state aid and thus incompatible with the single European market.<br \/>\nThis classification of the EU Commission was strongly criticised in the literature and partly also by German courts (cf. decision of the Working Committee of the Surveying Authorities of the States of the Federal Republic of Germany [AdV] of the M\u00fcnster Finance Court of 1 August 2011 &#8211; 9 V 357\/11 K). Germany was subsequently forced to reclaim the benefits granted from the companies concerned. Binding disclosures that had already been made were revoked and corresponding tax assessments were issued only in case of tax assessment subject to review (\u00a7 164 German Tax Code [<em>Abgabenordnung \u2013 AO<\/em>]).<br \/>\nSome companies which fulfilled the conditions of the restructuring clause filed an action for annulment with the General Court of the European Union (\u201c<em>EGC<\/em>\u201d). However, at this point it should only be mentioned briefly that the Federal Government of Germany at the time also filed such an action, but one day too late. That\u2019s why the action was dismissed as inadmissible. As a result, Germany joined the actions which had been validly brought as an intervener.<br \/>\nAt the beginning of 2016, the EGC confirmed the opinion of the EU Commission with two largely identical rulings, which led the companies concerned to appeal to the European Court of Justice (\u201c<em>ECJ<\/em>\u201d). On 28 June 2018, the ECJ delivered four (again largely identical) judgments (ECJ cases C-203\/16 P, C-208\/16 P, C-219\/16 P and C-209\/16 P). The ECJ has declared the state aid decision of the EU Commission null and void.However, it should be noted that the ECJ only had to decide on the legality of the EU Commission&#8217;s negative decision. The ECJ did not have to decide on the existence of the criterion of selectivity and thus on the nature of the state aid. This gave rise to consequential questions regarding the application of the restructuring clause.<\/p>\n<h2>II. Consequences for practice<\/h2>\n<p>The decisions of the ECJ are highly appreciated by both the legislator and the taxpayer, as the restructuring clause is (again) to be applied in all cases which are still correctable. It is not clear whether the application is possible owing to the originally introduced transitional provision of section 8c KStG. The transitional provision (section 34 para. 6 sentence 2 no. 1 KStG) in its current version provides for a revival of the restructuring clause under two conditions. Firstly, the European Commission&#8217;s decision must be declared null and void by the ECJ. This is undoubtedly the case.<br \/>\nAs already mentioned, however, the ECJ only had to decide on the legality of the EU Commission&#8217;s negative decision. It is therefore questionable whether the European Court of Justice has also made findings about the state aid character within the meaning of Art. 107 para. 1 TFEU. This is important because otherwise the EU Commission could again classify the restructuring clause as state aid. In view of the annulment and the clear argumentation of the ECJ, however, it is likely to be difficult for the EU Commission to maintain its assessment of selectivity under state aid law.<br \/>\nThis makes it all the more important for structuring practice and M&#038;A practice that the legislator is currently seeking clarification. The Annual Tax Act 2018 (cf. decision of the Federal Government of 1 August 2018) provides, among other things, for the implementation of the ECJ rulings on the restructuring clause. An amended transitional provision (section 34 para. 6 sentences 2 and 3 of the draft Income Tax Act) is intended to ensure the application of the restructuring clause. Retroactive application is provided for acquisition of shares which took place after 31 December 2007, provided that the corresponding tax assessments are not yet final.<br \/>\nFinally, it should also be noted that Section 3a of the German Income Tax Act [<em>Einkommensteuergesetz \u2013 EStG<\/em>] (Tax Exemption of Restructuring Income), which is currently a further tax rule relating to restructuring cases, is subject to a review under state aid law. In the interests of legal certainty, it is to be expected that the above-mentioned ECJ rulings on the restructuring clause will have a positive effect on this notification procedure and that a resolution will<br \/>\nbe reached soon. As usual, we will keep you up to date with our honert + partner newsletter.<\/p>\n<\/div><\/section><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-75c223-263999ee2ebdcb5376de128bde924fae\">\n.flex_column.av-75c223-263999ee2ebdcb5376de128bde924fae{\nborder-radius:0px 0px 0px 0px;\npadding:7px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-75c223-263999ee2ebdcb5376de128bde924fae av_one_third  avia-builder-el-8  el_after_av_two_third  avia-builder-el-last  sy-only-desktop hide_on_print flex_column_div  column-top-margin'     ><p><div  class='avia-builder-widget-area clearfix  avia-builder-el-9  el_before_av_textblock  avia-builder-el-first '><section id=\"categories-3\" class=\"widget clearfix widget_categories\"><h3 class=\"widgettitle\">Newsletter issues<\/h3>\n\t\t\t<ul>\n\t\t\t\t\t<li class=\"cat-item cat-item-272\"><a href=\"https:\/\/honert.de\/en\/category\/2026-q1\/\">2026 Q1<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-267\"><a 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class='entry-content-wrapper clearfix'>\n","protected":false},"excerpt":{"rendered":"<p>A change of shareholder can lead to a proportional or complete elimination of the existing losses of a company. However, this shall not apply if the acquisition of the investment is made with the aim of restructuring the company. Up to now, however, the EU Commission has regarded this so-called restructuring clause as state aid. The European Court of Justice [ECJ] has recently declared this state aid decision null and void. Therefore, the restructuring clause can be applied again.<\/p>\n","protected":false},"author":26,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"mc4wp_mailchimp_campaign":[],"footnotes":""},"categories":[146],"tags":[],"class_list":["post-3854","post","type-post","status-publish","format-standard","hentry","category-2018-q3-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/posts\/3854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/comments?post=3854"}],"version-history":[{"count":4,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/posts\/3854\/revisions"}],"predecessor-version":[{"id":3859,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/posts\/3854\/revisions\/3859"}],"wp:attachment":[{"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/media?parent=3854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/categories?post=3854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/tags?post=3854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}