While tax regimes around the world vary greatly, generally countries are supporting and encouraging investment and growth in family businesses, with low tax liabilities for the transfer of businesses to the next generation either upon retirement or inheritance. The Global Family Business Tax Monitor report, will explore this and other insights related to the impact of tax regimes on family businesses across the globe.
Following on the tails of the first Tax Monitor report, released in April 2014, where tax regimes across 23 European countries were reviewed – The second edition, conducts analysis on a global level with over 40 countries explored (includes Americas, Europe, Middle East, Africa, Asia, and Oceania). To create the report, KPMG member firms were asked to analyze the tax burden arising from the inheritance of the business by a family member, upon the death of the owner of a family-owned business. They also worked on a case study whereby the business was transferred to a family member due to retirement or inheritance.