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Unternehmensbewertung nach HFA 2/1983: Ausländische Einkünfte, steuerliches Anrechnungsverfahren, Ausschüttungspolitik


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  • Popp, Matthias
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    Bei einer Unternehmensbewertung nach IDW müssen grundsätzlich persönliche Einkommensteuern berücksichtigt werden. Nach dem früheren Anrechnungsverfahren (bis 2000) führten ausländische Einkünfte auf Ebene der Kapitalgesellschaft häufig zu steuerfreien Eigenkapitalzugängen. Bei Ausschüttung an den Anteilseigner unterlagen die Dividenden aber der persönlichen Einkommensteuer. Das Arbeitspapier untersucht, wie unter diesen Bedingungen die Besteuerung sachgerecht bei der Bewertung berücksichtigt werden sollte. -- The German Standard for Business Valuation usually requires allowing for personal income taxes in computing a company value. Until 2000 Germany had a Corporation Tax Imputation System. Foreign income often was tax-exempt on a corporate level, but dividends from that income were taxed by personal income tax. The paper analyzes how taxes should be included in business valuation under these special circumstances to produce adequate results.

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    Paper provided by Friedrich-Alexander-Universität Erlangen-Nürnberg, Lehrstuhl für Rechnungswesen und Prüfungswesen in its series Working Papers in Accounting Valuation Auditing with number 2011-3.

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    Date of creation: 2011
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    Handle: RePEc:zbw:fauacc:20113

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    Keywords: Unternehmensbewertung; Bewertungsstandard; international; ausländische Einkünfte; Besteuerung; Einkommensteuer; Körperschaftsteuer; Anrechnungsverfahren; Dividendenpolitik; objektivierter Wert; IDW; Institut der Wirtschaftsprüfer; Business Valuation; Valuation Standard; HFA 2/1983; IDW; Institut der Wirtschaftspruefer; Germany; International; Foreign Income; Taxation; Personal Income Tax; Corporate Income Tax; Corporation Tax Imputation System; Dividend Policy;

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