Full text: Taxation of foundations in Europe

1. INTRODUCTION...............................................................................................................1 
2. AUSTRIA ..........................................................................................................................3 
2.1. Civil Law Framework..................................................................................................3 
2.2. Tax Treatment of Private Foundations.......................................................................4 
2.3. Conclusion .................................................................................................................8 
3. BELGIUM........................................................................................................................10 
3.1. Civil Law Framework................................................................................................10 
3.2. Tax Treatment of Foundations.................................................................................13 
3.3. International Context................................................................................................17 
3.4. Conclusion ...............................................................................................................17 
4. GERMANY ......................................................................................................................19 
4.1. Civil Law Framework................................................................................................19 
4.2. Tax Treatment..........................................................................................................21 
5. FRANCE .........................................................................................................................24 
5.1. General ....................................................................................................................24 
5.2. Establishment ..........................................................................................................24 
5.3. Types of foundations................................................................................................25 
5.4. Dissolution ...............................................................................................................28 
5.5. The International context .........................................................................................28 
6. LIECHTENSTEIN............................................................................................................29 
6.1. Introduction ..............................................................................................................29 
6.2. Civil Law Framework................................................................................................29 
6.3. Tax Treatment of Foundations.................................................................................31 
6.4. Conclusion ...............................................................................................................33 
7. LUXEMBOURG ..............................................................................................................35 
7.1. General ....................................................................................................................35 
7.2. Establishment ..........................................................................................................36 
7.3. Existing foundation...................................................................................................36 
7.4. Alternatives to the foundation ..................................................................................37 
7.5. Dissolution ...............................................................................................................38 
7.6. International context.................................................................................................38 
8. NETHERLANDS .............................................................................................................39 
8.1. Civil Law Framework................................................................................................39 
8.2. Foundation Forms....................................................................................................40 
8.3. Tax Treatment of Foundations.................................................................................42 
9. SWITZERLAND ..............................................................................................................45 
9.1. Civil Law Framework................................................................................................45 
9.2. Tax Treatment..........................................................................................................46 
9.3. Conclusion ...............................................................................................................48 
10. UNITED KINGDOM.........................................................................................................49 
10.1. General ..................................................................................................................49 
10.2. Bare Trust ..............................................................................................................49 
10.3. Interest in Possession Trust...................................................................................50 
10.4. Discretionary Trust.................................................................................................51 
10.5. Accumulation and Maintenance Trust....................................................................51 
10.6. Tax Pool.................................................................................................................52 
10.7. Mixed Trust ............................................................................................................52 
10.8. Trusts and Capital Gains .......................................................................................53 
11. SUMMARY AND CONCLUSIONS .................................................................................54 
12. LITERATURE..................................................................................................................59
        

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