Politics · Germany · 2 hrs ago

German business groups oppose ending inheritance tax relief for companies

German business groups oppose ending inheritance tax relief for companies

Leaders of two German business groups have called for tax relief on inherited business assets to remain in place.

They include Rainer Kirchdörfer, head of the Foundation for Family Businesses, and Peter Adrian, president of the German Chamber of Industry and Commerce.

The relief applies to assets such as factories, machines and patents when businesses pass to new owners.

Adrian said it comes with conditions, including continuing to run the business or keeping jobs.

He warned that without the relief, tax could reach up to half the transferred value.

He said some heirs might then have to sell part or all of a company to pay the bill.

The business leaders argue that higher taxes could leave companies with less money to invest and put jobs at risk.

Sources

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