BFH restricts the allocation of GmbH shares to special business assets II of a GmbH & Co. KG

The Federal Fiscal Court deals with the qualification of shares held by a limited partner in a general partner GmbH with its own business operations as special business assets II. Contrary to the opinion of the tax authorities, the causal connection is to be examined from the point of view of the limited partner. Even in the case of a two-tier GmbH & Co. KG, the general partner shares do not necessarily constitute SBV II.