{"id":3864,"date":"2018-09-21T09:40:53","date_gmt":"2018-09-21T07:40:53","guid":{"rendered":"https:\/\/honert.de\/real-estate-transfer-tax-reform-with-respect-to-share-deals\/"},"modified":"2019-09-05T15:23:40","modified_gmt":"2019-09-05T13:23:40","slug":"real-estate-transfer-tax-reform-with-respect-to-share-deals","status":"publish","type":"post","link":"https:\/\/honert.de\/en\/real-estate-transfer-tax-reform-with-respect-to-share-deals\/","title":{"rendered":"REAL ESTATE TRANSFER TAX REFORM WITH RESPECT TO SHARE DEALS"},"content":{"rendered":"\n\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-g09r44-64e5d04980cd8029e12b83073099116d\">\n.avia-section.av-g09r44-64e5d04980cd8029e12b83073099116d{\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-g09r44-64e5d04980cd8029e12b83073099116d 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-3864'><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-dfecgk-6994f4297df466062a49d51248565373 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-3864'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-cofu6s-93fa1dca54fc9fb3210858946bfda0e7\">\n.flex_column.av-cofu6s-93fa1dca54fc9fb3210858946bfda0e7{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-cofu6s-93fa1dca54fc9fb3210858946bfda0e7 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-k06osthy-4c7a750e207d63475f49d283efb64ab1\">\n#top .av-special-heading.av-k06osthy-4c7a750e207d63475f49d283efb64ab1{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-k06osthy-4c7a750e207d63475f49d283efb64ab1 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-k06osthy-4c7a750e207d63475f49d283efb64ab1 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-k06osthy-4c7a750e207d63475f49d283efb64ab1 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\"  >REAL ESTATE TRANSFER TAX REFORM WITH RESPECT TO SHARE DEALS<\/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-ad1v78-3098a98934da00f1fb76a9bf7463da7f\">\n.flex_column.av-ad1v78-3098a98934da00f1fb76a9bf7463da7f{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-ad1v78-3098a98934da00f1fb76a9bf7463da7f 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-k06otd83-6ee51ec6e510c417603ec6e4fa42ce13 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p><strong>On 8th September 2016, the federal states of Hesse, North Rhine-Westphalia and Schleswig-Holstein decided to implement a working group with respect to an intended reform of the real estate transfer tax. The reform targets to close down loopholes with respect to structures which are considered abusive regarding the sale of company shares which (mainly) hold real estate properties. Such working group presented a working paper with the key points for new statutory provisions on 21th June 2018.<br \/>\nThe real estate transfer tax is a Federal States tax. However, each Federal State is entitled to determine the rate of the incurring real transfer tax, which varies currently between 3.5 and 6.5 %. However, the Real Estate Transfer Tax Act itself is a Federal Law and applies equally in all Federal States.<br \/>\nThe following article gives an overview of the published key points of this reform proposal as well as their effects \u2013 far beyond the (alleged) abusive cases \u2013 on the (current) practice.<\/strong><!--more--><\/p>\n<\/div><\/section><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-8mlx9w-2f8b1c76e62d0acb4b605598f85fe966\">\n.flex_column.av-8mlx9w-2f8b1c76e62d0acb4b605598f85fe966{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-8mlx9w-2f8b1c76e62d0acb4b605598f85fe966 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-k06ox5z2-5c5abf82a7d6a87a37a23312ad15e43e '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2>I. Current legal status and intention of the legislator<\/h2>\n<p>The background for the intended reform of the Real Estate Transfer Tax Act [<em>Grunderwerbsteuergesetz \u2013 GrEStG<\/em>] is, in particular, that it is possible to fully avoid the otherwise incurring real estate transfer tax by using certain contractual arrangements within so-called share deals.<\/p>\n<h5>1. Current taxation of share deals (corporation)<\/h5>\n<p>Subject of the so-called share deals with respect to corporations is not the real estate property itself, but the shares in the corporation that (at least inter alia) holds real estate property. The special tax feature of such share deals &#8211; in simplified terms &#8211; is that under the GrEStG, a transaction only triggers real estate transfer tax when at least 95 % of the shares in the company are transferred directly or indirectly to a new shareholder or &#8220;<em>is merged<\/em>&#8221; in the person of a shareholder of the real estate company.<br \/>\nIf the sale of the company is now structured in such a way that only 94.9 % of the shares in the company are transferred to a new shareholder or the shares in the company are transferred to two independent (new) shareholders at a ratio of 94.9 % and 5.1 %, no real estate transfer tax will incur under the current version of the GrEStG.<\/p>\n<h5>2. Retention periods for partnerships<\/h5>\n<p>In addition, pursuant to the current GrEStG the triggering of the real estate transfer tax with respect to a change of 95 % of the participation in a partnership (e.g., GbR (private company), OHG (general partnership), KG (limited partnership), GmbH &#038; Co. KG (German limited commercial partnership (KG) consisting of a general partner (GmbH) and a limited partner)) depends on a five-year period. Hence, after a period of five years, a real estate tax free transfer of more than 95 % of the participation in a partnership which holds at least a piece of a real estate property is permissible.<br \/>\nThus, it is possible in compliance with the current legal situation to acquire all participations in a partnership which holds real estate property under extensive avoidance of real property transfer tax by structuring a so called extended acquisition (gestreckter Erwerb): Therefor, first, 94.9 % of the participation in the partnership have to be acquired and after the five-year period has expired, the remaining 5.1 % of the participation can be acquired. In this case, the acquisition of the additional 5.1 % would in principle trigger the real estate transfer tax for the entire acquisition (in the amount of 100 %), but the acquisition is exempted from the real estate transfer tax to the extent that the acquirer already holds an participation in the partnership (in this case 94.9 %).<\/p>\n<h2>II. Planned innovations (working group)<\/h2>\n<h5>1. Reduction of the participation limit from 95 % to 90 %<\/h5>\n<p>The threshold which triggers the real estate transfer tax within share deals shall be lowered from 95 % to 90 %. It should be noted that even a reduction to 50 % or 75 % was discussed. This means that an external investor shall participate with 10.1 % of the shares instead of the previous 5.1 %.<\/p>\n<h5>2. Incurring of the real estate transfer tax in the event of a change in the shareholder structure in the amount of 90 % (section 1 para. 2b GrEStG draft)<\/h5>\n<p>For the practice the most far-reaching renewal is that an (additional) supplementary provision shall be implemented according to which the real estate transfer tax shall be triggered if a total of 90 % of the shareholders of a corporation changes within 10 years. Pursuant to this (intended) provision, the incurring of the real estate tax does not depend on the fact that the participation or amount of shares held by one shareholder exceeds a certain threshold.<br \/>\nThis is intended to prevent the (in practice widespread) constructions in which a co-investor is &#8220;<em>brought along<\/em>&#8221; who only holds a &#8220;<em>dwarf share<\/em>&#8220;. According to the current legal situation, no real estate transfer tax is triggered in this case due to a lack of acquisition\/association of 95 % of the shares in the hands of one shareholder.<\/p>\n<h5>3. Extension of the retention period<\/h5>\n<p>All current \u201c<em>five-year periods<\/em>\u201d shall be extended to ten years. This would make the aforementioned models of an extended acquisition less attractive. At present, five-year periods exist with respect to the aggregation of shareholder changes in partnerships, to the retention period pursuant to sections 5 and 6 GrEStG and for the retention period pursuant to section 6 para. 3 GrEStG.<br \/>\nThus, cases in which the acquired real estate property is transferred to a partnership or the real estate property in a proportionately acquired partnership will be transferred to one partner will also be affected in the future. In these situations, the property would initially have to be held by the acquiring shareholder for 10 years or the acquirer&#8217;s participation in the partnership has to remain unchanged respectively before it could be transferred to the partnership or removed from the partnership without any real estate transfer tax incurring. <\/p>\n<h5>4. Expected entry into force<\/h5>\n<p>In legal terms the new provisions could take effect retroactively from the date of the adoption in the Federal Cabinet [<em>Bundeskabinett<\/em>] (start of the legislative procedure). At present, the legislative procedure has not yet begun in such way so that, in our opinion, acting in compliance with the current legal situation is possible. With respect to the previous jurisprudence of the Federal Constitutional Court [<em>Bundesverfassungsgericht<\/em>] pertaining to the protection of legitimate expectation [<em>Vertrauensschutz<\/em>] it seems rather unlikely that structures which are carried out between the official disclosure of the reform proposal at the end of June 2018 and the introduction of the legislative proposal to the Federal Parliament will be captured retroactively although this seems to be conceivable with respect to the will of the legislator.<\/p>\n<h2>III. Consequences for the practice<\/h2>\n<p>With respect to the planned expansion of the real estate transfer tax offences and the lowering of the tax triggering thresholds, the (real estate transfer tax) implications in the context of transactions and restructurings will come to the fore even more strongly and will have even greater influence on the respective (legal) structuring of these processes.<br \/>\nIt remains to be seen to what extent the introduced reform proposals by the working group will ultimately be implemented in the law or how they will be changed in detail during the legislative procedure due to the multiple criticism that has already been expressed many times.<br \/>\nConsidering a possible retroactive effect of the planned legislative changes, relevant cases should be implemented at short notice.<br \/>\nThe reform proposals should already be kept in mind now &#8211; especially within the structuring of real estate transactions or other restructurings relevant to real estate transfer tax &#8211; so that there are no surprises in the aftermath.<\/p>\n<\/div><\/section><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-7p0nbo-4978c90648ecff08701c97b8ab7b3b10\">\n.flex_column.av-7p0nbo-4978c90648ecff08701c97b8ab7b3b10{\nborder-radius:0px 0px 0px 0px;\npadding:7px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-7p0nbo-4978c90648ecff08701c97b8ab7b3b10 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 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href=\"https:\/\/honert.de\/en\/category\/2017-q3-en\/\">2017 Q3<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-114\"><a href=\"https:\/\/honert.de\/en\/category\/2017-q2-en\/\">2017 Q2<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-142\"><a href=\"https:\/\/honert.de\/en\/category\/deals-en\/\">Deal Announcements<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-58\"><a href=\"https:\/\/honert.de\/en\/category\/uncategorized\/\">Uncategorized<\/a>\n<\/li>\n\t\t\t<\/ul>\n\n\t\t\t<span class=\"seperator extralight-border\"><\/span><\/section><\/div><br \/>\n<section  class='av_textblock_section av-k06oype9-96160ae51a179a4c8121b8623536fccb '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2>More information on this topic<\/h2>\n<ul class=\"sy-list-margin\">\n<li><a href=\"http:\/\/9zh.f5b.myftpupload.com\/en\/taetigkeitsgebiete\/corporate-law\/\">Corporate Law<\/a><\/li>\n<li><a href=\"http:\/\/9zh.f5b.myftpupload.com\/en\/taetigkeitsgebiete\/steuerberatung-und-steuerverfahren\/\">Tax Advice and Tax Proceedings<\/a><\/li>\n<li><a href=\"http:\/\/9zh.f5b.myftpupload.com\/en\/taetigkeitsgebiete\/reorganization-tax\/\">Reorganization Tax<\/a><\/li>\n<li><a href=\"http:\/\/9zh.f5b.myftpupload.com\/en\/taetigkeitsgebiete\/transaction-tax\/\">Transaction Tax<\/a><\/li>\n<\/ul>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3y3tn8-b7e5b237cfd12bf5af6ee9430a44eb61\">\n#top .hr.hr-invisible.av-3y3tn8-b7e5b237cfd12bf5af6ee9430a44eb61{\nheight:8px;\n}\n<\/style>\n<div  class='hr av-3y3tn8-b7e5b237cfd12bf5af6ee9430a44eb61 hr-invisible  avia-builder-el-11  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-306jlg-e94f42467ed9ceb23e1fd3f42fe488cd '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock hide_on_print'  itemprop=\"text\" ><h2>Downloads<\/h2>\n<p><a href=\"#\" onclick=\"window.print();return false\">Print<\/a><br \/>\n\n\n\n\t<div class=\"dkpdf-button-container\" style=\" text-align:left \">\n\n\t\t<a class=\"dkpdf-button\" href=\"\/en\/wp-json\/wp\/v2\/posts\/3864?pdf=3864\" target=\"_blank\"><span class=\"dkpdf-button-icon\"><i class=\"fa fa-file-pdf-o\"><\/i><\/span> Download (PDF)<\/a>\n\n\t<\/div>\n\n\n\n\n\n<\/p>\n<\/div><\/section><\/p><\/div><\/div><\/div><\/div><!-- close content main div --><\/div><\/div><div id='after_section_2'  class='main_color av_default_container_wrap 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-3864'><div class='entry-content-wrapper clearfix'>\n","protected":false},"excerpt":{"rendered":"<p>On 8th September 2016, the federal states of Hesse, North Rhine-Westphalia and Schleswig-Holstein decided to implement a working group with respect to an intended reform of the real estate transfer tax. The reform targets to close down loopholes with respect to structures which are considered abusive regarding the sale of company shares which (mainly) hold real estate properties. Such working group presented a working paper with the key points for new statutory provisions on 21th June 2018.<\/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-3864","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\/3864","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=3864"}],"version-history":[{"count":4,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/posts\/3864\/revisions"}],"predecessor-version":[{"id":3870,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/posts\/3864\/revisions\/3870"}],"wp:attachment":[{"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/media?parent=3864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/categories?post=3864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/honert.de\/en\/wp-json\/wp\/v2\/tags?post=3864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}