Porsche may sell the remaining shares to Volkswagen with no tax
|   Wednesday, June 13, 2012
Porsche Automobil has now come up with a new strategy of selling their sports car unit which is just over 50 percent even without paying the tax of about $1.9 billion according to the reports from WirtschaftsWoche. The deal was legally reshuffled and therefore it doesn't require any tax to be paid for the reason reported the magazine in its latest arrival. Porsche recently had some troubles regarding the sale of their various models which is now reported to be sorted out at the earliest as possible.


It has been estimated that Porsche receives only a single share in Volkswagen which does not subjected to the tax. There is no such policy introduced for the payment of tax for those who holds a single share in 4.5 billion euro transactions of the Volkswagen.

According to the reports from the media, the tax officers have sent a legal notice to the Porsche SE promising not a single cent to be paid as tax to the state which would have lessened the stress on the company. Although there is no such approval from the state finance ministry yet and also the ministry refused to talk about the matter, but according to the reports from inside it is clear that they have also confirmed of discharging the tax issue on Porsche SE.

Weather the finance ministry or the tax office, no one is confronting it in the media in relation to the affair. A senior spokesperson for Porsche said "the investigation has not yet completed, but this tax allegation is supposed to be resolved soon". Although he also didn't have a word regarding the legal notice from the tax office but somehow accepted it in a roundabout way.

Some time back, the Porsche SE spokesperson said that "Volkswagen has acquired 49.9 percent of the stock of the sports cars and we might have to wait until 2014 to sell out the remaining stock of 50.1 percent which would be tax free".

In the 2009 deal with the Volkswagen at the Porsche headquarter in Stuttgart (Baden-Wuettemberg's capital), there had been a deal of 3.9 billion euros between both the sides in order to prevent the financial collapse of the company. It has been estimated that both the sides have been maintaining a good business relations for a long time and for the reason supporting each other at the time of economic failure.

In spite of Porsche's lesser interaction with the media, a spokesperson for Volkswagen has recently confronted the media saying "the plannings of amalgamating both the companies away from the total rights of purchase has been going on from long and soon there will be a conclusion to this will come across". This increases the rumors that Volkswagen may acquire an immense amount of shares in the deal in coming next year.
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