scholarly journals Generation Shifting and the Principle of Continuity in Norwegian Tax Law

2014 ◽  
Vol 1 (1) ◽  
pp. 93-101
Author(s):  
Frederik Zimmer
Keyword(s):  
Capital Gains ◽  
Income Taxation ◽  
Tax Law ◽  
Continuity Principle ◽  
Inheritance Tax

Abstract With effect as from 1st January 2014 Norway abolished the inheritance tax and introduced the so-called continuity principle in income taxation. This means that heirs and receivers of gifts step into the tax basis and other tax positions of the giver and the deceased. Some additional requirements apply to some tax positions, in particular tax positions not related to assets (typically deferral of capital gains and carry forward of losses). Dwelling-houses and farms and forestries which the deceased or the giver could have sold without capital gains taxation is excepted.

Wirkungen der Gesamtrechtsnachfolge im Einkommensteuerrecht

2019 ◽  
Author(s):  
Veronika M. Rodenhäuser
Keyword(s):  
Income Tax ◽  
Case Law ◽  
Research Literature ◽  
Income Taxation ◽  
Tax Law ◽  
Normal Case ◽  
Inheritance Tax ◽  
Income Tax Law ◽  
The Given ◽  
Legal Entities

Inheritance has tax consequences not only with regard to inheritance tax. Whenever a testator has not completed his business, for example collecting a claimant’s fees or when business assets are sold, tensions between income tax and inheritance tax occur. Unlike in a normal case, in these cases two legal entities are involved in a fiscal matter. This work examines whether and to what extent tax-relevant facts that have been realised in the person of a testator can be validated by an heir. The contradictions in case law and research literature regarding income taxation in the case of inheritance require an analysis of the given structures and principles of income tax law. This study devotes particular attention to possible solutions de lege ferenda in cases of the transfer of hidden reserves made by a testator which are intended to counteract the elimination of the potential to offset a testator’s losses.

Grundfragen der Organisation von Familienunternehmen

2021 ◽  
Keyword(s):  
Family Businesses ◽  
Law School ◽  
Tax Law ◽  
Annual Conference ◽  
Advantages And Disadvantages ◽  
Inheritance Tax ◽  
Family Enterprises ◽  
Societas Europaea ◽  
Key Issues

This volume documents the 8th annual conference of the Notarial Center for Family Enterprises of Bucerius Law School on October 25, 2019, which focused on key issues of the organization of family businesses: developments in (inheritance) tax law; design of articles of association for GmbH and GmbH & Co. KG; genderspecific succession clauses; family businesses in the form of Societas Europaea; advantages and disadvantages of different succession models; special challenges of corporate publicity in family businesses. With contributions by Dr. Christian Bochmann, Prof. Dr. Heribert Heckschen, Prof. Dr. Andreas Söffing, Prof. Dr. Marco Staake and Prof. Dr. Hartmut Wicke.

scholarly journals EUROPEAN CERTIFICATE OF SUCCESSION

2020 ◽  
Vol 13 (2) ◽  
pp. 78-88
Author(s):  
Mihaela Pătrăuș
Keyword(s):  
Tax Law ◽  
Individual Member ◽  
Member States ◽  
Inheritance Law ◽  
Inheritance Tax

The newly created European Certificate of Succession is applicable in almost the entire EU. It is primarily used to verify an heir’s status and is designed to serve alongside the existing national inheritance certificates (such as the German Erbschein), making it easier for heirs to settle inheritance matters abroad. This EU Succession Regulation does not, however, affect the provisions of individual Member States in the areas of substantive inheritance law (e. g. the question of who is a legal heir) and inheritance tax law. This paper aims to analyze how the regulation of the European inheritance certificate interacts with the regulation of the national inheritance certificate. Thus it does not replace documents such as the Romanian inheritance certificate but is rather a supplementary inheritance document.

22. Capital gains tax and inheritance tax on business assets

2019 ◽  
pp. 213-232
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Capital Gains ◽  
Capital Gains Tax ◽  
Business Context ◽  
Inheritance Tax ◽  
Tax Regimes ◽  
A Company

This chapter examines the capital gains tax (CGT) and inheritance tax regimes which apply to individuals in relation to businesses and business assets. Under the provisions of the Taxation of Chargeable Gains Act (TCGA) 1992, CGT is payable when a taxable person makes a disposal of chargeable assets giving rise to a chargeable gain unless an exemption or relief applies. The chapter first discusses the various rules which need to be considered to establish a taxpayer’s CGT liability on any given disposal. It then covers CGT in the business context; disposals of partnership property; disposals of shares; disposals of business assets owned by those involved in the business; the purchase by a company of its own shares; and inheritance tax.

11. Taxation of trusts and settlements

2018 ◽  
Author(s):  
Kathryn Wright ◽  
Clare Firth ◽  
Lucy Crompton ◽  
Helen Fox ◽  
Frances Seabridge ◽  
...  
Keyword(s):  
Income Tax ◽  
Capital Gains ◽  
Capital Gains Tax ◽  
Inheritance Tax

Settlements may be created by settlors in their lifetime, or by will, or they may arise under the intestacy rules. This chapter considers the tax implications of such settlements from the perspective of both the trustees and the beneficiaries. It considers each of the three main taxes separately: inheritance tax, capital gains tax, and income tax.

27. Choice of business medium

2018 ◽  
Author(s):  
J. Scott Slorach ◽  
Jason Ellis
Keyword(s):  
Social Security ◽  
Limited Liability ◽  
Capital Gains ◽  
The Other ◽  
Viable Option ◽  
Inheritance Tax ◽  
The One ◽  
Limited Liability Partnership ◽  
Business Media ◽  
Capital Expense

This chapter makes a comparison between companies, on the one hand, and partnerships or sole traders, on the other, in order to explain the various factors which should be taken into account when choosing the two business media. It considers factors such as risk of capital, expense, publicity, taxation, interest relief, capital gains, inheritance tax, pensions and social security Due to the range of variables, the desirability of limited liability means that incorporation may be the only viable option, although this can also be achieved by setting up a limited liability partnership. Where limited liability is not of great importance, the tax factors will be more significant and these would have to be examined from a number of perspectives, including the size of anticipated profits, the particular financial circumstances of the promoters of the business, and any particular expectations they had about their stake in the business.

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