Thousands of investors have to worry about tax payments . Source: AP
DÜSSELDORF. With a transmission of meaning change in tax matters by the Film Fund Kaldeo III of LHI on comparable funds is , in the opinion of experts is not expected , however. Porr Oliver , CEO of LHI warns: "Therefore, can not breathe all film fund investors. "
The Tibet also Neusel , tax expert at the action the federal government provides active investor that supports Filmfondsbeteiligte , said: " In the majority of the funds the tax issues are still highly explosive, the tax has continued its aggressive attitude. " That is, tax-reducing initial losses will withdraw and tax payments required.
Guarantees to the detriment
In 2005, around 3500 investors had participated with € 350 million on the film fund Kaledo III. It was knitted using a pattern typical in this period . gave money fund investors (limited partners ). The funds paid to companies producing the films . Because the fund itself possessed neither cameras nor Studios. Nevertheless, the film producer investors for tax purposes . This meant that the entire fund deposits diminished participation in the year, the taxable income. The deposit had it not even be paid fully, but was pre-financed by banks in part. For the finished films , the film distributors were paying royalties later . To this license revenue in full or in part at least secure , debt assumption agreements were concluded with banks with which the banks are guaranteed royalty payments to the Fund .
Between 1997 and 2005, invested approximately twelve billion euros in German film fund. A very large proportion of such debt was provided with acquisition agreements . Later refused to tax the recognition of tax benefits and called for back taxes . The last word is likely to be the Bundesfinanzhof ( BFH) have .
The BFH will decide whether the guarantees so-called "abstract Schuldversprechen ", as the tax claims . Gets the tax authority of law must be feared , thousands of investors, tax payments in the billions. Recognize the judges on the other hand, a debt assumption of the Treaty, there are both advantages, such as the looming due to special circumstances when Kaledo III.