When the Volkswagen shareholders decide on a special dividend from the proceeds of the Porsche IPO on December 16th, the Federal Finance Minister Christian Lindner (FDP) can also be happy. Because part of the distribution of 9.55 billion euros – 19.06 euros per share – goes indirectly to the tax authorities. Even VW owner Lower Saxony has to pay hundreds of millions of euros in taxes. This emerges from a response from the State Ministry of Finance to a request from WELT AM SONNTAG.
Accordingly, the dividend initially flows into the state-owned Hannoversche Beteiligungsgesellschaft (HanBG). Their surpluses “are subject to corporate and trade tax liability within the framework of the usual tax liability,” explains a spokeswoman. She confirms that the HanBG will probably receive 1.12 billion euros. If one calculates with the corporate tax rate of 15 percent, 168 million euros would have to be transferred to the tax office, as well as 188 million euros trade tax to the city of Hanover.
The country remains the smallest part: “Should this special dividend come about, it would primarily benefit the VW Foundation and thus the promotion of science and research,” says the spokeswoman. Lower Saxony is obliged to give the foundation a little more than half of the gross dividend from the state budget. “It is planned that the HanBG will distribute a corresponding amount from its profits to the state.” Then capital gains taxes and solos will be due. How high the transfer will be is not clear. At 600 million euros, Lindner would collect another 183 million euros in taxes.
