“If you think compliance is expensive, try non-compliance” – this much-quoted statement by former U.S. Attorney Paul McNulty makes it clear why it pays off to establish an appropriate compliance system as a preventive measure, even from a company’s point of view. This article deals with the potentially disastrous legal consequences of failing to implement an appropriate compliance system.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2022-12-22 06:40:002022-12-21 11:08:30CONSEQUENCES OF NON-COMPLIANCE FROM A COMPANY PERSPECTIVE
The Annual Tax Act 2022 includes adjustments of the methods for valuing domestic real estate, which may lead to significantly higher real estate values. Real estate gifts will be particularly affected by this. From 1 January 2023, higher gift tax charges are to be expected in many cases. However, whether action is required shortly before the end of the year depends on the type and location of the property and the available market data from the local appraisal committee.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2022-12-22 06:31:002022-12-21 10:45:36CHANGES IN REAL ESTATE VALUATION FOR THE PURPOSES OF INHERITANCE AND GIFT TAX
Usufruct arrangements allow the separation of assets and income of an entrepreneurial investment. In this way, different income tax and inheritance or gift tax objectives can be achieved. The ruling of the German Federal Fiscal Court of 14 February 2022, file no: VIII R 29/18 on an indirect hidden profit distribution in connection with GmbH shares subject to usufruct exemplifies the pitfalls of arrangements with usufruct and thus the need for forward-looking tax planning.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2022-12-22 06:20:002022-12-21 10:36:23GMBH SHARES ENCUMBERED WITH USUFRUCT – RISK OF INDIRECT HIDDEN PROFIT DISTRIBUTION AND ARRANGEMENTS
The foundation law currently in force urgently needs to be reformed. German foundations pursue almost exclusively charitable purposes and have often existed for several hundred years. Currently more than 23,000 foundations exist in Germany. The following article deals with the adopted changes in foundation law with a special focus on the actual innovations, which go beyond a mere unification.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2022-12-22 06:10:002022-12-21 13:42:15CHANGES IN FOUNDATION LAW – “UPDATE” OR MERE UNIFICATION?
The Federal Labor Court has published the reasons for its decision of 12 September 2022 (1 ABR 22/21) regarding the obligation of employers to record working hours. Not all details have yet been clarified regarding the employer’s obligation to record the working hours of its employees, which is effective immediately. It remains to be seen whether the legislature will actually pass regulations as planned by the Federal Ministry of Labor.
https://honert.de/wp-content/uploads/honert_logo_270px.png00Ester Hahnhttps://honert.de/wp-content/uploads/honert_logo_270px.pngEster Hahn2022-12-22 06:00:002023-01-31 14:54:10DUTY TO RECORD WORKING HOURS – FEDERAL LABOR COURT PUBLISHES REASONS FOR DECISION
CONSEQUENCES OF NON-COMPLIANCE FROM A COMPANY PERSPECTIVE
/in 2022 Q4/by Ester Hahn“If you think compliance is expensive, try non-compliance” – this much-quoted statement by former U.S. Attorney Paul McNulty makes it clear why it pays off to establish an appropriate compliance system as a preventive measure, even from a company’s point of view. This article deals with the potentially disastrous legal consequences of failing to implement an appropriate compliance system.
CHANGES IN REAL ESTATE VALUATION FOR THE PURPOSES OF INHERITANCE AND GIFT TAX
/in 2022 Q4/by Ester HahnThe Annual Tax Act 2022 includes adjustments of the methods for valuing domestic real estate, which may lead to significantly higher real estate values. Real estate gifts will be particularly affected by this. From 1 January 2023, higher gift tax charges are to be expected in many cases. However, whether action is required shortly before the end of the year depends on the type and location of the property and the available market data from the local appraisal committee.
GMBH SHARES ENCUMBERED WITH USUFRUCT – RISK OF INDIRECT HIDDEN PROFIT DISTRIBUTION AND ARRANGEMENTS
/in 2022 Q4/by Ester HahnUsufruct arrangements allow the separation of assets and income of an entrepreneurial investment. In this way, different income tax and inheritance or gift tax objectives can be achieved. The ruling of the German Federal Fiscal Court of 14 February 2022, file no: VIII R 29/18 on an indirect hidden profit distribution in connection with GmbH shares subject to usufruct exemplifies the pitfalls of arrangements with usufruct and thus the need for forward-looking tax planning.
CHANGES IN FOUNDATION LAW – “UPDATE” OR MERE UNIFICATION?
/in 2022 Q4/by Ester HahnThe foundation law currently in force urgently needs to be reformed. German foundations pursue almost exclusively charitable purposes and have often existed for several hundred years. Currently more than 23,000 foundations exist in Germany. The following article deals with the adopted changes in foundation law with a special focus on the actual innovations, which go beyond a mere unification.
DUTY TO RECORD WORKING HOURS – FEDERAL LABOR COURT PUBLISHES REASONS FOR DECISION
/in 2022 Q4/by Ester HahnThe Federal Labor Court has published the reasons for its decision of 12 September 2022 (1 ABR 22/21) regarding the obligation of employers to record working hours. Not all details have yet been clarified regarding the employer’s obligation to record the working hours of its employees, which is effective immediately. It remains to be seen whether the legislature will actually pass regulations as planned by the Federal Ministry of Labor.
honert advises Circus Kitchens GmbH on seed financing
/in Deal Announcements/by Ester Hahn