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Auswirkungen der deutschen Unternehmensteuerreform 2008 und der österreichischen Gruppenbesteuerung auf den grenzüberschreitenden Unternehmenserwerb

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  • Bauer, André
  • Knirsch, Deborah
  • Niemann, Rainer
  • Schanz, Sebastian
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    Abstract

    Using a simple model under certainty we show the implications of the new group relief system in Austria effective from 2005 and the reform act of business taxation 2008 in Germany on cross border marginal purchase prices and marginal seller prices concerning incorporations. The results show that the new group relief in Austria does not imply a higher marginal purchase price for a subsidiary located in Austria by an Austrian investor in comparison to his German competitor. If the German reform act of business taxation 2008 is not taken into account a German investor is able to pay higher marginal prices at the Austrian and German transaction market for companies. Considering the German tax reform act the situation changes. Now the Austrian investor is able to pay higher marginal prices for subsidiaries located in Germany and Austria. -- Anhand eines einfachen Modells unter Sicherheit zur Bewertung von Kapitalgesellschaften wird gezeigt, wie sich die Unternehmensteuerreform 2008 in Deutschland und die Einführung der Gruppenbesteuerung in Österreich in 2005 auf die Käufer- und Verkäufergrenzpreise bei grenzüberschreitendem Erwerb von Kapitalgesellschaften auswirken. Die Ergebnisse zeigen, dass trotz der Einführung der Gruppenbesteuerung ein österreichischer Investor keinen höheren Grenzpreis für eine österreichische Kapitalgesellschaft zahlen kann als sein deutscher Konkurrent. Ein deutscher Investor kann sowohl auf dem österreichischen als auch auf dem deutschen Markt für Unternehmenstransaktionen einen höheren Preis zahlen. Dieses Verhältnis kehrt sich durch die Unternehmensteuerreform 2008 in Deutschland um. Nun kann der österreichische Investor auf beiden Märkten einen höheren Preis zahlen. Durch die Einführung der Abgeltungsteuer steigt die Renditeforderung des deutschen Investors und seine Zahlungsbereitschaft sinkt. So wirkt sich die Unternehmensteuerreform 2008 trotz eines sinkenden Körperschaftsteuersatzes stark negativ auf die Wettbewerbsposition eines deutschen Erwerbers einer Kapitalgesellschaft aus.

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    Bibliographic Info

    Paper provided by arqus - Arbeitskreis Quantitative Steuerlehre in its series arqus Discussion Papers in Quantitative Tax Research with number 47.

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    Date of creation: 2008
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    Handle: RePEc:zbw:arqudp:47

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    1. Devereux, Michael P & Lockwood, Ben & Redoano, Michela, 2002. "Do Countries Compete over Corporate Tax Rates?," CEPR Discussion Papers 3400, C.E.P.R. Discussion Papers.
    2. Fuest, Clemens & Huber, Bernd & Mintz, Jack, 2005. "Capital mobility and tax competition," Munich Reprints in Economics 20329, University of Munich, Department of Economics.
    3. Clemens Fuest & Bernd Huber & Jack Mintz, 2003. "Capital Mobility and Tax Competition: A Survey," CESifo Working Paper Series 956, CESifo Group Munich.
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