German Growth Opportunities Act: A Legacy and other claims to transfer domestic assets are subject to German Inheritance Taxbility

The German Growth Opportunities Act amends the German Inheritance Tax and Gift Tax Act by inserting the words "or includes a claim to the transfer of domestic assets within the meaning of section 121 of the Valuation Act" after the word "exists" in section 2 (1) no. 3 sentence 1 of the Inheritance Tax Act. Consequently, since the effective date of the law, a legacy (Vermächtnis) of a domestic property (Inlandsvermögen) is again subject to limited inheritance tax liability (beschränkte Erbschaftsteuerpflicht). The new law closes the taxation gap that arose as a result of the decision of the German Federal Fiscal Court dated 23 November 2022 - II R 37/19

 

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