From 15 to 5 % in generational succession taxes
More than 100 businesses that have generated growth in Denmark for generations secure favourable tax conditions to continue working.
The network ‘Vækst i Generationer’ (meaning “Generations of Growth") has been established to increase focus on the difference Danish family-owned businesses make for production, work places and economic growth in Denmark. At the same time, the network also aims to highlight the challenges that arise with generational succession in Denmark.
The objective is to eliminate some of these challenges – generational succession tax included.
Challenge
23,000 family-owned businesses face generational succession. Family-owned businesses are crucial to growth and employment, but the generational succession tax drains them of critical capital and forces many of them to close or sell up.
Solution
’Generations of Growth’ is working to create favourable conditions for generational succession in Denmark. The network has gathered more than 100 businesses that show how much family-owned businesses contribute to growth and employment in Denmark. Through documentation and dialogue, the network has emphasized the challenges of the generational succession tax, which will be lowered up to 2020.
Read more at igenerationer.dk
The network’s remarkable results
From 15 to 5 %
The generational succession tax is
being lowered from 15 % in 2015
to 5 % by 2020
+100
businesses in the network -
14 family-owned businesses
and 86 associated members
