Porsche is cooperating with state prosecutors into tax investigation issues

2018 Porsche 911 GT2 RS

Volkswagen’s Porsche unit on Sunday stated it was working with state prosecutors to clear up investigations into alleged tax debts associated with early retirees and taxable advantages enjoyed by former top executives.

A company spokesman stated the automaker had “already responded to possibly anticipated tax payments via safety surcharges and lump sum payments.”

The Bild am Sonntag (BamS) newspaper stated on Sunday enforcement officers visited Porsche premises in 2018.

The paper noted they were investigating paperwork associated to parties, private travel by managers on company planes and chauffeured vehicles, along with shortfalls in payments to tax officials because of salaries collected by former employees on early retirement schemes.

The paper also stated costs incurred for a birthday party held by former CEO Matthias Mueller who ran the firm between 2015 and 2018 had needed retroactive tax declarations and the late settlement of outstanding liabilities.

In a statement, Porsche stated the company had paid major outstanding sums in question.

It had handed over all documentation about possible tax liabilities for the workers in early retirement, it stated.

The payments queried by the officials associated with 2009 to 2017, and prompted an onsite search at Porsche headquarters in June 2018, it stated.

Porsche had further replied to queries about its tax liabilities by starting internal tax compliance measures and processes, aided by external consultants, the statement included.

It refused to discuss further on details while the investigation was still ongoing.

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