Privileged assets within the meaning of §§ 13a, 13b Inheritance and Gift Tax Act (IGTA) which are transferred by way of death or by gifts inter vivos if no consideration is granted, do not lead to subsequent taxation due to a violation the holding regulations of § 13a para. 5 IGTA (in the version of the Inheritance Tax Reform Act 2009). [Read more…] about Regional Office of Finance (Bavaria) – June 1, 2016
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Baden-Wurttemberg Ministry of Finance – May 6, 2016
Due to the decision of the Federal Finance Court of July 22, 2015 (II R 12/14, Federal Finanz Gazette 2006, pt. II, p. 230), the deduction of the equalization of accrued gains according to § 10 para. 6 Inheritance and Gift Tax Act (IGTA) claimed by the surviving spouse (§ 5 IGTA) is not limited anymore insofar as it relates to tax-exempt economic assets. [Read more…] about Baden-Wurttemberg Ministry of Finance – May 6, 2016
Regional Office of Finance (Bavaria) – April 28, 2016
According to the European Court of Justice (January 17, 2008, C-256/06; see also Federal Court of Finance April 11, 2006, II R 35/05) the valuation of agricultural and forestry assets in states of the European Union based on the fair market value of § 31 Valuation Act in comparison to the valuation of domestic agricultural and forestry assets (§§ 140 et seqq. Valuation Act) is an infringement of the principle of the free movement of capital (Art. 73 b para. 1 EC-Treaty). [Read more…] about Regional Office of Finance (Bavaria) – April 28, 2016