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Euro am Sonntag mailbox: Securities: Are tax traps threatened with the Siemens Energy spin-off? | message

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by Stefan Rullktter, Euro am Sonntag

I have been a loyal Siemens shareholder for more than 20 years and have repeatedly bought shares when the share price fell. Do I have to expect tax pitfalls when allocating Siemens Energy shares – and does it matter how long the old shares have been in the custody account?

€ URO ON SUNDAY:As compensation for the downsizing of the group on September 28, Siemens shareholders will receive a new share of Siemens Energy SE for every two Siemens shares they hold. This spin-off should be tax-neutral for investors because existing parts of the company will be transferred to a subsidiary.

In the eyes of the tax authorities, the acquisition costs for the entire Siemens stock portfolio therefore remain unchanged. The previous purchase costs will be redistributed between the old Siemens papers and the new Siemens Energy shares in a ratio of two to one.

On this basis, price gains realized later are subject to the withholding tax for both shares plus the solidarity surcharge and, if applicable, church tax (maximum 27.99 percent). The flat-rate tax can be avoided through the saver lump sum (801 euros per year for single persons, 1,602 euros for partners who are assessed together) For this purpose, shareholders must submit an exemption order to their custodian bank.

Shareholders who bought Siemens shares before the withholding tax was introduced in 2009 and have held them without interruption since then are even better off. If Siemens shares were acquired before and after 2009, the tranches are treated differently for tax purposes. The FIFO method (“first in, first out”) must be observed: In the event of a sale, the securities acquired first are considered sold.


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