Global family business tax monitor
Company: KPMG Česká republika, s.r.o.
For business families planning to transfer their business from one generation to the next, the tax costs can vary widely, depending on where the business is located. Some countries offer substantial tax breaks to help family businesses succeed and grow in the hands of the next generation. Other countries tax transfers within families the same as any other transaction, creating significant costs.
KPMG Enterprise’s Global family business tax monitor examines these differences in 65 countries, regions and jurisdictions and how they can influence the successful transition of family businesses from one generation to the next. Through case studies analyzed by KPMG Enterprise practices in the participating countries, the monitor highlights the effects tax can have on the transfer of a business worth EUR10 million to family members — both through inheritance and a lifetime transfer (on retirement).
The report also features insights into global trends that are expected to alter the tax landscape for family business transfers in the coming years, along with key succession planning points that business families should consider, wherever in the world they are located.
To see the report click here.