Insights and Strategies for the Modern Research Environment
Edited by Friederike Welter and David Urbano
Chapter 4: Schrdingers family firm: on the German legislator implicitly defining the family business and how he attempts to protect it
Family businesses are seen as cornerstones of the German economy and operate within the context, norms and regulations of German legislation. Chapter 4 asks several questions: What kind of business is regarded as a ‘family business’? How is the term ‘family business’ defined? Which one of the existing definitions is the correct one? Many researchers have spent much time dealing with these kinds of questions. By contrast, the German legislature issued its own definition of the term ‘family business’ in 2016. The definition is relevant not only for research purposes but also for the family businesses themselves, because it implies a tax concession for businesses which fulfil the legislator’s definition. The chapter covers the German legislator’s definition of the term ‘family business’, the resulting tax exemptions and their inconsistencies.
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