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- Title
Steuerbarkeit des insolvenzbedingten Untergangs von Aktien.
- Abstract
The article deals with the tax treatment of the destruction of shares due to insolvency. It is stated that there is a regulatory gap in the Income Tax Act that does not directly cover the withdrawal of shares due to insolvency. This gap is closed by applying the disposal provision. It is also noted that the disposal provision is not yet fulfilled if the shareholder can no longer expect any payment before the deletion of the stock corporation or if the shares are delisted from the stock exchange. The article refers to a judgment of the Federal Fiscal Court dated November 17, 2020, and deals with case law regarding income from capital assets. It is argued that the disposal provision should be analogously applied to the destruction of shares due to insolvency-related termination and deletion of the stock corporation in order to prevent a possible violation of the principle of equality. It is also pointed out that the disposal provision may already be fulfilled if the shares are removed from the taxpayer's custody account. The introduction of § 20 para. 6 sentence 6 of the Income Tax Act confirms the corresponding application of the disposal provision. The text deals with various tax aspects related to the extinction of membership rights or the removal of shares from a custody account. It is noted that the accrual principle according to § 11 of the Income Tax Act applies for profit determination. Reference is also made to a judgment of the Federal Fiscal Court that deals with the taxability of a repayment loss according to § 20 para. 2 sentence 1 no. 7 of the Income Tax Act. Finally, it is stated that a trading ban on shares does not result in a loss in the respective year.
- Subjects
CUSTODIAL accounts; PLAINTIFFS; DEPOSITS (Law); INCOME tax; DISTRICT courts; INCOME inequality; PUBLIC companies; TAX returns; BANKRUPTCY; CAPITAL; REPAYMENTS
- Publication
FinanzRundschau, 2023, Vol 105, Issue 8, p374
- ISSN
2567-4765
- Publication type
Article
- DOI
10.9785/fr-2023-1050810