Thursday, August 6, 2015

Discount Johanna Quandt: The silent inheritance – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         

 
 
 
 
 
          A family: Johanna Quandt (center) with her children Stefan Quandt (left) and Susanne Klatten (right)
     

 
                                              

 
 
     
     
     
         
         
                                                             

After the death of Johanna Quandt, the question arises how the great fortunes of BMW heiress is transmitted to the children Susanne Klatten and Stefan Quandt. The exciting thing is: The Quandt family has already given the answer. For Johanna Quandt has passed its BMW shares for the most part many years ago to her children. It was one of the greatest gifts that has ever existed in Germany. It is a block of shares, which in the spring of 2015 had a value of 11.5 billion euros. That’s what the journalist Rüdiger Jungbluth for his book “The Quandt. Germany’s most successful family of entrepreneurs’ research, which will be released in September and the Frankfurter Allgemeine Zeitung is present in extracts.


                         
         
         
                                                             
                             

Carsten Knop Author: Carsten Knop, editor in charge of business coverage and businesses Joachim Jahn Author:. Joachim Jahn, economics correspondent in Berlin, responsible for “Law and Taxes”

As Jungbluth writes, was at the center of these assets offset an unknown company: the Johanna Quandt GmbH & amp; Co. KG for automotive values. This is a limited partnership, in which Johanna Quandt had their 1998 BMW shares introduced. Since then, a package lay there by 16.4 percent of the voting shares of the carmaker. In addition, the widow had a block of shares in direct personal possession that gives you 0.4 percent of voting rights at BMW.


                         
         
         
                                                             

At some point in the course of 2011 wandered the company that bears the name of the mother and in her BMW stake stuck to the two children over. The limited partnership interests were transferred in equal parts to the companies of the two children: 49.5 percent of the KG-shares were in fixed assets of Susanne Klatten Beteiligungs GmbH. Other 49.5 stake in Johanna Quandt GmbH & amp; Co. KG for automotive values ​​took Stefan Quandt investment company that AQTON SE.


                         
         
         
                                                             

shares to offspring away

Jungbluth is also the question whether BMW and Johanna Quandt have not thereby infringed the reporting requirements of the Act on Securities Trading. The answer is no, because in the case of Johanna Quandt is such that it has indeed largely presented their shares to their offspring, has retained the voting rights associated with these shares, however, what the legal structure of Johanna Quandt GmbH & amp; Co. KG for automotive values ​​and its general partner, the Johanna Quandt GmbH, was possible. As the Managing Director held office until last Johanna Quandt personally. And with that she still had the voting rights attached to those shares that are owned by their two children for years.


                         
         
         
                                                                                                                                                                                                                              

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It is the family managed to take advantage of tax benefits still alive Johanna Quandt and the transfer of assets to bring unnoticed across the stage. Inheritances and gifts are the same for the tax authorities, apply the same tax rates, allowances and sparing rules. “The transfer of assets was well planned. He took part in several donations over a longer period up to 2008 and was organized donation tax low. This has to do with stock prices and reviews. We have seen that we can lift the now. Within two or three years, which is coped, “Stefan Quandt is quoted in Jungbluth book. How much tax has paid the family Quandt dislike disclose: The family has benefited from the tax privileges for business assets, but they have also paid to an appreciable extent gift tax. There is probably evidence that the effective tax rate on all donations Johanna Quandt might be doing at 18 percent.


                         
         
         
                                                             

Several portions due to the Gift Shop

The Quandt family did not want to conceal that the BMW shares from the mother to the daughter and the son had been transferred, Stefan Quandt said: “All information is public accessible. “But was directly informed of the transfers do not even BMW. Either way: “The issue of inheritance from the third to the fourth generation is through,” said Quandt. “It will be for the company sure no distortions.” Why the Quandt decided to transfer his lifetime Johanna Quandt, is obvious. In this way they could transmit the BMW involvement in several portions, making it easier dropped the family to bear the resulting gift tax. The level of taxation has also decisively influenced by the respective stock market values. The first donation was made in 2003 at rates of 36 euros.


                                 

 

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discount Johanna Quandt

The silent inheritance

From Carsten Knop and Joachim Jahn

Johanna Quandt had taken precautions. Your BMW shares have been transferred several years ago to the children. It was one of the greatest gifts that has ever existed in Germany.

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