Common value
In tax law, the common value is the market price of an asset that can be achieved under normal market conditions .
Germany
It is an objective asset that includes sales tax as a gross value . The common value is a specific legal term , for which there is a legal definition in § 9 Valuation Act (BewG) . According to this, it is determined by the price that would be achieved in normal business dealings according to the nature of the asset in the event of a sale . All circumstances that affect the price must be taken into account. Unusual or personal circumstances are not to be taken into account. The common value is a gross value that also includes sales tax . If the taxpayer proves in the case of real estate or property that the common value of the economic unit on the valuation date is lower than the value determined in accordance with Sections 179 , 182 to 196 BewG (by the tax office ), this value is to be applied. As a matter of principle, the provisions issued on the basis of Section 199 (1) of the Building Code apply to the proof of the lower common value ; These are the ImmoWertV , which came into force on July 1, 2010, and the WertR 2006.
The common value is to be applied when the business is closed for assets that have not been sold ( Section 16 (3) sentence 7 EStG ). In connection with the partial value , the common value forms its lower limit (at least the material costs ), while the replacement costs represent the upper limit of the partial value.
Austria
The term common value in Austria corresponds to the language used in Germany and is regulated in the Austrian Valuation Act.
While the replacement costs (VwGH October 20, 1971, 1055/69, which is based on a procurement market) are in the foreground when determining the partial value , the common value results from a market value unrelated to a business and corresponds to the liquidation value in the case of individual sale. The common value is a sales value and does not include the incidental acquisition costs, while the partial value includes these. Unusual and personal circumstances are to be excluded when determining the common value (Section 10 (2) and (3) BewG 1955). The common value also includes sales tax .
See also
Value , replacement value , sentimental value , residual value , insurance value , lower value , value , scrap value , maximum value principle , lowest value , original value , property value , yield value , exchange value , lending value , point value , intermediate value , intrinsic value , corporate value , Repartitionswert , impairment