- Tax right of the Mezzaninekapitals
- Balance right of the investment capital without right to vote
- Company capital balance of the quiet participation
and the pleasure right
Mezzanines finance capital is in the tax right and balance right of big furtherances stamped namely in the balance and therefore with the credit standing and with the rating as well as with the tax advantages. Mezzanine capital can become by additional contract clauses balance-juridically "real" company capital (Equity-Mezzaninekapital). Mezzanine capital is to be valued by the bare Nachrangigkeit compared with the classical outside capital basically only as an economic company capital. This means that it must be expelled in the balance basically as an obligation.
Balance-juridical company capital (conditions)
Provided that the mezzaninen participation contracts fulfil complementary conditions, the Mezzanine capital can be also led balance-juridically as a company capital. Five complementary conditions of the contract are necessary moreover after the main certificate of the institute of the chartered accountants IdW: Beside the profit sharing and loss participation the participation contract must be concluded for at least five years and payments may occur only from a positive annual output. Further a postrank clause as well as an at least 2-year-old term of notice of the Beteiliungsvertrages are necessary (see certificate of the institute of the chartered accountants, Dusseldorf, IDW in the statement HFA 1/1994). The balance-juridical arrangement as a balance-juridical company capital and custody capital has no tax negative results. Rather the arrangement remains tax-neutral.
In spite of the company capital character in bilanzieller and economic regard, Mezzanine capital is evaluated with suitable creation according to tax law as an outside capital with the dismissal advantages. Thus the costs of a Mezzanine financing are deductible as company expenses and contribute to the decrease of the taxable profit. Profit payments at the typically quiet society and with the pleasure right capital decrease with right contract creation the profit liable to corporation tax and are like interest on loans deductible expenditure of the society. The Mezzaninekapital offers real tax advantages.
Tax right of the quiet participation and the pleasure rights
The atypically quiet society (= participation) against it shows a special form and has a profits tax-juridical stamping. This grants income from industrial concern to settle positive and negative income with the possibility with each other. The atypical quiet participation grants the possibility to close the tax circle between different legal people (natural people and legal entities) and to settle thereby profits with losses income-tax or body-tax. Tax condition for the recognition of an atypically quiet society as coemployers is (1) the loss participation, (2) sucked the participation in the goodwill increase and (3) the grant one. Coenterpriser's initiative (= certain rights to a say). Further the additional conditions of the contract which permit then the quiet investment capital balance-juridically as a company capital to passivieren can be taken up. Profit payments at the atypically quiet society are no expenditure at the enterprise, but mean real profit division on account of a uniform and separate profit statement. Payments shorten the profit liable to body, e.g., of the corporation.
In the tax right the yields from pleasure rights are classified as income from capital assets and are defeated by the payment tax. Profit payments are with the quiet corporate capital and with the pleasure right capital an income from capital assets which is defeated by the payment tax with maximum 25% and currently still to the solidarity tax. The enterpriser should find out to the illustration with the help of calculation examples about the advantageous effects in the area of the body, Trade-expensive and income tax with his tax adviser individually.