Der Deutsche REIT: Ist die REIT-AG als Rechtsform für Unternehmen wirtschaftlich sinnvoll und geeignet, ihr umfangreiches Immobilienvermögen steuerbeg
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Masterarbeit aus dem Jahr 2007 im Fachbereich BWL - Investition und Finanzierung, Note: 2,0, Hochschule f�r Technik und Wirtschaft Berlin, Sprache: Deutsch, Abstract: 1 Immobilienwirtschaftliche Einf�hrung in das Thema G-REIT Als internationaler Standard f�r ein steuerlich neutrales Instrument zur indirekten Immobilienanlage haben sich bereits in �ber 20 L�ndern der Welt die sogenannten Real Estate Investment Trusts (REITs) durchgesetzt. Nach langwierigen politischen Diskussionen hat Deutschland nunmehr nachgezogen: Nachdem das Kabinett Zustimmung am 30.03.2007 vom Bundesrat erteilt. Die Auswirkungen f�r die Marktbeteiligten (Unternehmen und Anleger) sind gravierend. Traditionell werden Immobilien in Deutschland �berwiegend als Langfrist-Investment gehalten. Durch seine zwingende B�rsennotierung markiert der REIT als wesentliche Ziele zum einen den Schritt in die Richtung, Immobilien als flexibel handelbare Anlageg�ter zu sehen, die �ber die B�rse kurzfristig ge- oder verkauft werden k�nnen, zum anderen, Unternehmen einen steuerlichen Anreiz zu geben, ihr nicht betriebsnotwendiges Immobilienverm�gen zu mobilisieren, insbesondere zugunsten ihrer Wettbewerbsf�higkeit gegen�ber internationalen Finanz- und Immobilienstandorten. Die Besonderheit des REITs ist ihre Steuerbefreiung auf Gesellschaftsebene und die verpflichtend damit einhergehende Mindestaussch�ttung an ihre Anleger i. H. von 90 % des aussch�ttungsf�higen Gewinns. Daher stellt die Einf�hrung von deutschen REITs einen Paradigmenwechsel f�r den deutschen Immobilienmarkt dar. Mit der vorliegenden Thesis soll untersucht werden, ob die Einf�hrung des deutschen REITs f�r den Immobilienmarkt aus der Sicht der Unternehmen erforderlich ist, welche neuen Chancen der deutsche REIT f�r (non) real estate -Unternehmen bietet und welche Anforderungen und Restriktionen bei der durch das REIT-Gesetz eingef�hrten Exit Tax mit der Ver�u erung oder Transformation an REITs und Vor-REITs zu beachten sind. In einer kritis
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