wird (an die Unentgeltlichkeit) angeknüpft

15:41 Jun 19, 2023
German to English translations [PRO]
Bus/Financial - Law: Taxation & Customs /
German term or phrase: wird (an die Unentgeltlichkeit) angeknüpft
Hi everyone.

I am translating a document that explains recent changes in Liechtenstein tax law, and this section describes laws governing real-estate investments by private-asset structures in the country, here is the context:


Obliegt der Entscheid über konkrete Immobiliensinvestitionen dem geschäftsführenden Organ, wird dadurch eine Wirtschaftliche Tätigkeit angenommen.

Lediglich die Feststellung genereller Vermögensquoten für Immobilieninvestments kann durch die PVS erfolgen.

***Bei Vermietung der Immobilie wird an die Unentgeltlichkeit angeknüpft.***


I am not sure what is meant exactly by "wird an die Unentgeltlichkeit angeknüpft ". Thank you for your assistance.
Robert Dunn
United States
Local time: 23:19


Summary of answers provided
4 +1the no-charge requirement will be triggered
Michael Martin, MA
4the concept of non-remuneration is applied.
Sam Habach
4It will be deemed non-remunerative
Andrew Bramhall
3there will be a transactional tie-up (as a dealing for no consideration)
Adrian MM.


Discussion entries: 5





  

Answers


21 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
the concept of non-remuneration is applied.


Explanation:
"When renting out the property, the concept of non-remuneration is applied."

It implies that the arrangement in the context of renting out the property is non-commercial or non-profit, with no payment or consideration involved.

Sam Habach
United States
Local time: 23:19
Works in field
Native speaker of: Native in EnglishEnglish
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9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
the no-charge requirement will be triggered


Explanation:
Makes sense to me.

"In the event of the property being leased, the no-charge requirement is/will be triggered."

Michael Martin, MA
United States
Local time: 23:19
Works in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 53

Peer comments on this answer (and responses from the answerer)
agree  Andrew Bramhall: Yes, possibly ' no charge requirement CLAUSE', to round it off.
16 hrs
  -> Thanks, Andrew!
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20 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
there will be a transactional tie-up (as a dealing for no consideration)


Explanation:
bei Vermietung der Immobilie : if the (land &) building / real estate is let, the transaction will be classified as one made for no (good or valuable) consideration.

The letting does not count as a conveyance or other transfer of land & building.-

There's nothing missing - 'es' is understood as literally tying up with the 'wird' as an impersonal expression.

Valuable consideration means for money or money's worth. Good consideration connotes 'in return for natural love and affection, so gifts and other transfers between family members.

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Note added at 20 hrs (2023-06-20 12:37:07 GMT)
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understood: for no *taxable* consideration / quid pro quo


    Reference: http://www.wikiwords.org/dictionary/term/350534/699134
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 20

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: "transactional tie-up" conveys nothing, never seen it used, albeit your explanation makes sense and is free (for once) of waffle about your past
2 hrs
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1 day 2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
It will be deemed non-remunerative


Explanation:
If the decision on specific real estate investments is made by the managing body,this is taken to mean the assumption of economic activity.
Only the determination of general asset ratios for real estate investments can be made by the PVS.
If the real estate is rented out, it is deemed to be non-remunerative (i.e, free of charge(s).

Andrew Bramhall
United Kingdom
Local time: 04:19
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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