Other taxes

20 July 2022 Business assets received as a gift and taken as a basis for tax assessment more than doubled in 2021

In 2021, 26.7 billion euros of business assets were transferred by gift and taken as a basis for tax assessment. This was the first year-on-year increase since the inheritance tax reform in 2016. The Federal Statistical Office (Destatis) also reports that the business assets received as a gift and taken as a basis for tax assessment more than doubled compared with the previous year (+128.8%). In the category of business assets transferred by gift and amounting to more than 26 million euros, a total amount of 19.1 billion euros was set as the basis for tax assessment. That was more than five times the value taken as a basis for tax assessment in the preceding year. Real property received as a gift and taken as a basis for tax assessment (non-built-up and built-up land) increased to 14.1 billion euros in 2021 (+25.8%). Other property transferred by gift (such as shares in corporations, bank deposits, securities) accounted for 12.8 billion euros (+23.1%).

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