Bizalmi vagyonkezelés és az adózás

When the owner of the assets decides to assign a fiduciary asset management company to manage their assets, a cost-free transaction will take place between them. The assets transferred in this manner enjoy subject-based exemption pursuant to the Duty Act – irrespective of whether the transferred assets may be moveable or immoveable properties or different assets. In compliance with the provisions of law applicable to the transaction enjoying subject-based exemption and with the applicable VAT laws, the transaction is exempt from VAT – occasional exceptions may be asset management carried out by a foundation, which may be subject to a VAT payment obligation.

Assets involved in fiduciary asset management will be a separate legal and taxable entity, and, regarding taxation, it will be subject to corporate tax – except if the settlor and beneficiaries of the assets are natural persons, and if they exclusively obtain revenues from the ownership, profits or interests of the invested assets. In the event the managed assets are delivered, the same rules of gift duty apply to them as if the beneficiary received the assets directly from the settlor – except when the settlor and the beneficiary are the same person, or when the beneficiary is a spouse or a direct ascendants or descendants, in which cases no gift duty is payable. (It is important to know that the yields of fiduciary asset management, if received by a private individual, qualify as revenue and must be treated as dividends.)

It is, therefore, evident that fiduciary asset management is a complex legal institution that equally requires financial, legal and taxation expertise, and offers a large number of flexible options to protect the settlor’s assets. Should you need further information about the taxation of assets in fiduciary asset management, we are pleased to provide information on the optimum fiduciary asset management arrangements best suited to the life situation drawn up by you. Moreover, the members of our family business hold years of experience in asset management, as well as a complete legal, financial and administrative background to ensure worthy management and prosperity of assets – please contact us with confidence!