Taxation of fund returns as income

ATA/83/1998Cour de justice / Chambre administrative10 févr. 1998

Extrait par Omnilex

Résumé Omnilex

The case concerns the taxation of the return on securities held in an investment fund. The decisive question is whether the income is taxed in the hands of the person entitled to the payment at the time of performance, or, for growth funds, at the time the return is booked. The summary states that the relevant taxable person is the creditor at the time of performance; for growth funds, taxation follows the accounting recognition of the return.

Regeste Omnilex

LCP. 16; taxation of the return on securities held in a fund as income; the return is taxable in the hands of the creditor at the time the performance becomes due or is paid, while for growth funds the taxable moment is the accounting recognition of the yield, not the later distribution. The taxable nexus is thus determined by entitlement to the return at the relevant temporal point, with a specific rule for growth funds based on bookkeeping recognition.

Texte intégral

Descripteurs

IMPOT; FONDS DE PLACEMENT; BENEFICE; PAPIER-VALEUR; FIN

Normes

LCP.16

Résumé

Le rendement de titres doit être imposé comme revenu entre les mains de celui qui est créancier au moment de la prestation ou, pour les fonds de croissance, au moment de la comptabilisation de leur rendement (ATA H. du 19.02.97). Le rendement de titres doit être imposé comme revenu entre les mains de celui qui en est le créancier au moment de la prestation ou, pour les fonds de croissance, au moment de la comptabilisation de leur rendement.

Mots-clés

taxationinvestment fundincomesecuritiesyieldgrowth fund

Extrait par Omnilex

Questions juridiques clés extraites par Omnilex

Question juridique clé

When must the return on securities held in a fund be taxed as income?

Solution extraite

The return is taxed as income in the hands of the person who is the creditor at the time of performance; for growth funds, at the time the return is booked.

Motifs extraits

Income taxation follows the person entitled to the payment at the relevant time. For growth funds, the relevant taxable moment is the accounting recognition of the return rather than the later distribution.

Taxation of fund returns as incomeGénéré par IA