Principle

The sale of securities imposes a fiscal levy on the seller depending on the realized capital gains, as determined by the sales price.

These transactions can also affect the buyer if the sales price appears too low (risk of fiscal revaluation) or too high (risk of re-characterization and of challenging the deductibility of financial expenses incurred the acquisition debt).

Our intervention consists in putting forth our expertise in company valuation and our deep understanding of the methods used by the Fiscal Administration.

Methodology

The methods adopted in this section are similar to those included in the Company Valuation section. Given the situation, we apply any of the valuation methods listed below:

  • Intrinsic valuation methods (Revalued net asset, Discounted free cash flows, Adjusted net present value)
  • Comparable valuation methods (trading multiples, comparable precedent transactions)

We also implement methods used by market practitioners, as presented by the Fiscal Administration in its guide for company valuation, namely: the productivity and yield methods.

Our Work

  • Write a rigorously sourced report on behalf of the seller or buyer
  • Assist in case of litigation

Credentials