Pledge of mortgage certificate as gratuitous shareholder benefit

ATA/13/1997Cour de justice / Verwaltungskammer07.01.1997Dismissed

Von Omnilex extrahiert

Omnilex-Zusammenfassung

The case concerned whether the pledge of a mortgage certificate on a company property to secure a bank loan granted to the shareholders was a taxable gratuitous shareholder benefit. The court held that it was. The bank security was given for the shareholders' own credit, and the services they rendered to the company could not be characterized as an onerous counterperformance. The taxable benefit therefore fell within Art. 66 lit. h LCP.

Omnilex-Regeste

Art. 66 lit. h LCP; gratuitous shareholder benefits; a pledge of a mortgage certificate on company real estate securing a bank loan granted to shareholders constitutes a free benefit to the shareholders when no compensatory consideration is rendered to the company. Services performed by shareholders for the company do not, by themselves, amount to an onerous counterperformance capable of excluding the gratuitous character of the benefit.

Gesamter Gesetzestext

Descripteurs

IMPOT; PRESTATION APPRECIABLE EN ARGENT; CEDULE HYPOTHECAIRE; NANTISSEMENT; FIN

Normes

LCP.66 litt.h

Résumé

Constitue une prestation gratuite aux actionnaires, au sens de l'art. 66 litt. h LCP, le nantissement auprès d'une banque d'une cédule hypothécaire grevant l'immeuble d'une société, en contrepartie d'un crédit bancaire accordé aux actionnaires. Les services des actionnaires rendus à la société ne peuvent être considérés comme des prestations de nature onéreuse.

Schlagwörter

taxationshareholder benefitmortgage certificatepledgebank loanconsiderationgratuitous benefit

Von Omnilex extrahiert

Von Omnilex extrahierte Kernrechtsfragen

Kernrechtsfrage

Whether pledging a mortgage certificate on company property for a bank loan to the shareholders constitutes a gratuitous shareholder benefit taxable under Art. 66 lit. h LCP.

Extrahierter Entscheid

Yes. The pledge constituted a gratuitous benefit to the shareholders within the meaning of Art. 66 lit. h LCP.

Extrahierte Begründung

The bank security was provided in exchange for a credit granted to the shareholders, not for a compensatory service rendered to the company. The shareholders' services to the company could not be treated as a remunerated, onerous consideration.

Pledge of mortgage certificate as gratuitous shareholder benefitKI-generiert