The Resource German Tax Court rules income from U.K.-based private equity fund exempt from German taxation

German Tax Court rules income from U.K.-based private equity fund exempt from German taxation

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German Tax Court rules income from U.K.-based private equity fund exempt from German taxation
Title
German Tax Court rules income from U.K.-based private equity fund exempt from German taxation
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Language
eng
Summary
The German Federal Tax Court (BFH) published a decision on 26 October 2011 (case I R 46/10, decision dated 24 August 2011), concluding that income derived by German tax resident investors in a U.K.- based private equity fund is exempt from German taxation. The decision is likely to have a significant impact on the taxation of German investors in domestic and foreign private equity funds, as well as on the taxation of German-source income received by non-resident investors via private equity funds. In its decision, the BFH commented on the criteria to distinguish between business partnerships and asset management partnerships and, for the first time, expressed doubts that the criteria applied by the German tax authorities are correct. This article discusses the background of the case, the BFH ruling, and the potential impact for private equity funds
Citation source
In: Tax planning international : European tax service. - London. - Vol. 13 (2011),
http://library.link/vocab/creatorName
  • Roth, M
  • Vana, T
Geographic coverage
  • European Union
  • Europe
Language note
English
http://library.link/vocab/subjectName
  • case law
  • private equity
  • partnership
Label
German Tax Court rules income from U.K.-based private equity fund exempt from German taxation
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Publication
Label
German Tax Court rules income from U.K.-based private equity fund exempt from German taxation
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