The question of whether a gift by a legal entity is taxable or not will initially be answered affirmatively by many. The 1956 Inheritance Tax Act stipulates that gift tax is levied on the value of everything received by "someone" as a gift. In the opinion of Dennis Evertsz However, the question remains whether "someone" should also be understood as a legal entity. Dennis believes it is arguable that a gift by a legal entity, according to the letter of the law and case law, should not be subject to gift tax.
