Does Germany need the exemption of family firms from inheritance taxation?

在德国，中小型企业非常重要。政治家们经常强调，家族企业是德国经济实力和稳定的基础。此外，家族企业被认为对德国的高就业水平做出了重大贡献。因此，家族企业或多或少完全免除遗产税。然而，正如德国联邦宪法法院在其2014年12月17日的决定中所指出的那样，这些假设并非基于科学证据。这一建议旨在提供在这方面缺失的经验证据，从而改善未来的政策决策。没有经验证据表明家族企业如何对继承计划导致的股份转让做出反应。在评估家族企业对继任计划的经济反应时，重要的是要考虑经济替代方案：公司的销售。如果不免除遗产税，家族企业可能会陷入流动性问题，家族可能被迫出售企业。考虑到经济替代方案，只有当家族企业在继承计划方案中比替代方案销售有更高的盈利能力和更多的就业机会时，这种豁免才是合理的。两种经济方案的比较是本项目的核心创新之处。本研究项目将以科学的证据丰富关于家族企业免征遗产税的情绪化和争议性的讨论。

In Germany small and medium sized firms are of high importance. Politicians regularly emphasize that family firms are the basis for the strength and the stability of the German economy. Furthermore family firms are supposed to make a significant contribution to the high level of employment in Germany. As a consequence, family firms are more or less fully exempt from inheritance taxation. However, these assumptions are not based on scientific evidence as the German Federal Constitutional Court stated in its decision dated 17.12.2014. This proposal intends to provide the missing empirical evidence in this context and thus to improve future policy decisions.There is no empirical evidence on how family firms react to a transfer of shares as a consequence of a succession plan. When evaluating the economic reaction of family firms to a succession plan it is important to consider the economic alternative: the sale of the firm. Without the exemption from inheritance taxation family firms might get into liquidity problems and the family may be forced to sell the firm. Considering the economic alternative, the exemption is justified only if family firms have a higher profitability and more employment in the scenario of a succession plan compared to the alternative scenario sale. The comparison of the two economic alternatives is the core innovation of this project. This research project will enrich the emotional and controversial discussion on the exemption of family firms from inheritance taxation with scientific evidence.