Tax & Legal

If a natural person engages in multiple commercial activities, these activities may be considered as one business or as multiple independent businesses either because the activities are of the same type or different in nature. As the Supreme Tax Court pointed out in a most recently published judgment, this depends on the economic, organizational, and financial circumstances.

The Supreme Tax Court has held that debt provisions otherwise disallowed in the tax accounts but which are assumed by an acquirer as part of a business takeover may be retained in the tax accounts of the latter until utilised or no longer required.