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Tax consequences of family business transfers can cost millions because of location, KPMG report finds

Isabel Baxter, 28/02/2023

The tax consequences of family business transfers can vary by the millions based on where a business is located, according to KPMG's latest annual Global Family Business Tax Monitor report

The report compared the different tax liabilities among jurisdictions on the transfer of family business through gifting during the owners’ lifetime (including on retirement) and through inheritance.

Across the 57 jurisdictions, South Kor...


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