Skip to main content

LUP Student Papers

LUND UNIVERSITY LIBRARIES

Avvägningen mellan realisationsprincipen och kontinuitetsprincipen - Om beskattningstidpunkt vid gemensamma andelsbyten av kvalificerade andelar

Antonsson, Johanna LU (2021) JURM02 20211
Department of Law
Faculty of Law
Abstract
An exchange of shares is a transaction in which the seller sells shares in one
company to another company, in exchange for shares in the purchasing company. In general, exchanges are taxed at the time of realization. However,
Chapter 48 a of the Swedish Income Tax Act entails the time of taxation to
be postponed for exchanges of shares through continuity. The thesis aims to
examine the impact of the continuity principle (principle of basis carry-over)
in the case of joint exchanges of qualified shares. In addition to the purpose,
the thesis aspires to examine generally applicable conclusions regarding the
balancing of the realization principle and the continuity principle.

The examination reveals that in theory there are... (More)
An exchange of shares is a transaction in which the seller sells shares in one
company to another company, in exchange for shares in the purchasing company. In general, exchanges are taxed at the time of realization. However,
Chapter 48 a of the Swedish Income Tax Act entails the time of taxation to
be postponed for exchanges of shares through continuity. The thesis aims to
examine the impact of the continuity principle (principle of basis carry-over)
in the case of joint exchanges of qualified shares. In addition to the purpose,
the thesis aspires to examine generally applicable conclusions regarding the
balancing of the realization principle and the continuity principle.

The examination reveals that in theory there are three alternatives of taxation
for joint exchanges of qualified shares. Such transactions can be taxed according to the realization principle or according to the continuity principle. It is also possible to give the continuity principle full or partial impact. If the continuity principle is given full impact the transaction is taxed as a single exchange. If the continuity principle is given partial impact the transaction is taxed as several separate exchanges. Furthermore, the examination shows that applicable law entails that the continuity principle has no impact or an indirect impact on taxation of joint exchanges of qualified shares. Finally, the examination finds that the continuity principle should be given partial impact when taxing joint exchanges of qualified shares. The requirements set out in the Merger Directive, Swedish legislative history, precedents and doctrine suggest that it is appropriate to apply the continuity principle. The principle of neutrality suggests giving the continuity principle partial impact. In addition, it is possible to make some observations regarding the balancing of the realization principle and the continuity principle. The balancing does not constitute a choice between two alternatives but a placement on a scale. There is reason to apply the continuity principle when the payment of a transaction
does not give the taxpayer a concrete ability to pay or when the object of the
transaction can typically be assumed to contribute to societal efficiency. (Less)
Abstract (Swedish)
Ett andelsbyte är en transaktion där säljaren avyttrar andelar i ett företag till
ett annat företag i utbyte mot andelar i det köpande företaget. Som utgångspunkt sker beskattning direkt vid andelsbytet men 48 a kap. IL innehåller särskilda regler som innebär senareläggning av beskattningstidpunkten vid andelsbyten genom kontinuitet. Uppsatsens syftar till att utreda kontinuitetsprincipens genomslag vid s.k. gemensamma andelsbyten av kvalificerade andelar. Vid sidan av syftet har uppsatsen en ambition att dra generella slutsatser om avvägningen mellan realisationsprincipen och kontinuitetsprincipen.

Utredningen visar att det i teorin finns tre beskattningsalternativ för gemensamma andelsbyten av kvalificerade andelar. Sådana... (More)
Ett andelsbyte är en transaktion där säljaren avyttrar andelar i ett företag till
ett annat företag i utbyte mot andelar i det köpande företaget. Som utgångspunkt sker beskattning direkt vid andelsbytet men 48 a kap. IL innehåller särskilda regler som innebär senareläggning av beskattningstidpunkten vid andelsbyten genom kontinuitet. Uppsatsens syftar till att utreda kontinuitetsprincipens genomslag vid s.k. gemensamma andelsbyten av kvalificerade andelar. Vid sidan av syftet har uppsatsen en ambition att dra generella slutsatser om avvägningen mellan realisationsprincipen och kontinuitetsprincipen.

Utredningen visar att det i teorin finns tre beskattningsalternativ för gemensamma andelsbyten av kvalificerade andelar. Sådana transaktioner kan antingen beskattas enligt realisationsprincipen eller enligt kontinuitetsprincipen. Det är dessutom möjligt att ge kontinuitetsprincipen fullständigt eller partiellt genomslag. Om kontinuitetsprincipen får fullständigt genomslag beskattas transaktionen som ett enda andelsbyte. Om kontinuitetsprincipen får partiellt genomslag beskattas transaktionen som flera separata andelsbyten. Utredningen visar vidare att gällande rätt antingen innebär att kontinuitetsprincipen saknar genomslag eller får indirekt genomslag vid beskattning av gemensamma andelsbyten av kvalificerade andelar. Till sist visar utredningen att kontinuitetsprincipen bör få partiellt genomslag vid beskattning av gemensamma andelsbyten av kvalificerade andelar. De krav som framgår av fusionsdirektivet och de skäl som framgår av förarbeten, praxis och doktrin talar för att det är lämpligt att tillämpa kontinuitetsprincipen. Neutralitetsprincipen talar för att ge kontinuitetsprincipen partiellt genomslag. Dessutom ger utredningen stöd för vissa generella observationer avseende avvägningen mellan
realisationsprincipen och kontinuitetsprincipen. Avvägningen utgör inte ett
val mellan två alternativ utan ett val av placering på en skala. Det finns anledning att ge kontinuitetsprincipen genomslag vid avvägningen när vederlaget i en transaktion inte ger den skattskyldige konkret betalningsförmåga samt
när transaktionen typiskt sett kan antas bidra till hög samhällseffektivitet. (Less)
Please use this url to cite or link to this publication:
author
Antonsson, Johanna LU
supervisor
organization
alternative title
The balancing of the realization principle and the continuity principle - Regarding the time of taxation for joint exchanges of qualified shares
course
JURM02 20211
year
type
H3 - Professional qualifications (4 Years - )
subject
keywords
finansrätt, förvaltningsrätt, skatterätt, neutralitetsprincipen, realisationsprincipen, kontinuitetsprincipen, andelsbyte, fåmansföretag, kvalificerade andelar, 3:12-reglerna
language
Swedish
id
9046105
date added to LUP
2021-06-15 22:13:06
date last changed
2021-06-15 22:13:06
@misc{9046105,
  abstract     = {{An exchange of shares is a transaction in which the seller sells shares in one 
company to another company, in exchange for shares in the purchasing company. In general, exchanges are taxed at the time of realization. However,
Chapter 48 a of the Swedish Income Tax Act entails the time of taxation to 
be postponed for exchanges of shares through continuity. The thesis aims to 
examine the impact of the continuity principle (principle of basis carry-over) 
in the case of joint exchanges of qualified shares. In addition to the purpose, 
the thesis aspires to examine generally applicable conclusions regarding the 
balancing of the realization principle and the continuity principle.

The examination reveals that in theory there are three alternatives of taxation 
for joint exchanges of qualified shares. Such transactions can be taxed according to the realization principle or according to the continuity principle. It is also possible to give the continuity principle full or partial impact. If the continuity principle is given full impact the transaction is taxed as a single exchange. If the continuity principle is given partial impact the transaction is taxed as several separate exchanges. Furthermore, the examination shows that applicable law entails that the continuity principle has no impact or an indirect impact on taxation of joint exchanges of qualified shares. Finally, the examination finds that the continuity principle should be given partial impact when taxing joint exchanges of qualified shares. The requirements set out in the Merger Directive, Swedish legislative history, precedents and doctrine suggest that it is appropriate to apply the continuity principle. The principle of neutrality suggests giving the continuity principle partial impact. In addition, it is possible to make some observations regarding the balancing of the realization principle and the continuity principle. The balancing does not constitute a choice between two alternatives but a placement on a scale. There is reason to apply the continuity principle when the payment of a transaction 
does not give the taxpayer a concrete ability to pay or when the object of the 
transaction can typically be assumed to contribute to societal efficiency.}},
  author       = {{Antonsson, Johanna}},
  language     = {{swe}},
  note         = {{Student Paper}},
  title        = {{Avvägningen mellan realisationsprincipen och kontinuitetsprincipen - Om beskattningstidpunkt vid gemensamma andelsbyten av kvalificerade andelar}},
  year         = {{2021}},
}