Business Management Studies
Online ISSN : 2434-3161
Print ISSN : 1349-3566
ISSN-L : 1349-3566
Issues in Property Valuation of Private Equity: Treatment of Valuation of Goodwill for Inheritance Tax Purposes
Norio HASEGAWA
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2025 Volume 21 Pages 73-89

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Abstract
The question arose as to whether the valuation of the property of privately held stocks should be based on the Circular or on a professional valuation. In this paper, we conclude that the valuation based on the Circular should be used. Since non-public stocks are traded without going through the market, it is difficult to measure their fair market value. Therefore, in order to ensure fairness in taxation among taxpayers, valuation by the Circular is appropriate.
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© 2025 Business Management Society of Japan
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