Effects at the level of A-GmbH | Effects at the level of Anton Müller

The equity and thus assets of A-GmbH remain unchanged. While EUR 100,000 of cash assets (bank) are added on the asset side, debts on the liabilities side also increase by EUR 100,000. At the end of the first year, A-GmbH will pay EUR 14,000 to Anton Müller. This payment reduces liabilities by EUR 10,000, but reduces assets by EUR 14,000. The interest represents in full operating expenses, which reduces the equity capital. | The granting of the loan initially has no impact, since there is a purely private asset management. At the end of the first year, AM receives EUR 4,000 in interest, from which he can deduct the EUR 2,000 as advertising costs. Section 32d(2) second sentence of the EStG does not apply to the lump-sum savings amount (section 20(9) of the EStG). AM must therefore tax EUR 2,000 with its personal income tax rate.

Customary agreements – no vGA | Leverage Comparison Violation – vGA exists

AM must tax the interest received according to § 20 (1) sentence 1 no. 7 EStG with its personal tax rate of 45 % (§ 32d (2) EStG). He therefore pays EUR 2,700 in income tax on the received interest of EUR 6,000. Since A-GmbH can deduct the interest paid as operating expenses, it saves 15 % corporation tax. The savings are thus EUR 900. Overall, there is a tax burden of EUR 1,800, because while the GmbH saves EUR 900, AM pays EUR 2,700. | A-GmbH cannot deduct the interest paid as operating expenses, since a vGA may not influence the income of the company (§ 8 (3) sentence 2 KStG). In the case of AM, there is capital gain pursuant to § 20 (1) no. 1 EStG. They are taxed either at the withholding tax rate (26,375 %) or under the partial income scheme. Withholding tax: EUR 6,000 x 26.375 % = EUR 1,582.50 Parts income procedure: EUR 6,000 x 60 % x 45 % = EUR 1,620 AM now pays about EUR 1,600 in income tax on the interest income. The tax burden was thus reduced by EUR 200.

With a shareholder loan, natural or legal persons can provide capital to their company. However, a shareholder loan is only mentioned if the person transferring the capital – the creditor – is also a shareholder or shareholder of the respective company. We take a look at how the shareholder loan works at a GmbH and what design possibilities exist.

Principle 1: What is a shareholder loan?

In the case of the shareholder loan, the shareholder, i.e. the owner of the shares, grants a loan to the GmbH. The company now has debts (liabilities) in the corresponding amount, at the same time a claim arises at the level of the shareholder. In the further course, the GmbH repays the loan, so it pays a repayment and interest to the creditor. The specific loan terms can be freely agreed between the parties.

The shareholder loan thus represents a form of corporate financing. A distinction must be made here between own and external financing: