Is it worthwhile to reintroduce Estate Duty or Inheritance Tax?

 1,158 total views

Is it worthwhile to reintroduce Estate Duty or Inheritance Tax?

However, is it worthwhile?

13 countries in the last 20 years have repealed their inheritance tax. Reason is obvious. Its revenue and purpose overweight the compliance cost andadministrative efficiency.

Recently, Macau and Hong Kong have also repealed it.

List of 13 Countries that has repealed the Inheritance Tax are as under:

 

Country or Jurisdiction Year of Repeal
Macau 2001
Portugal 2004
Slovak Republic 2004
Sweden 2005
Russia 2005
Hong Kong 2006
Hungary[7] 2006
Singapore 2008
Austria 2008
Liechtenstein 2011
Brunei 2013
Czech Republic 2014
Norway 2014

 

 

Leave a Comment

Your email address will not be published.

the taxtalk

online portal for tax news, update, judgment, article, circular, income tax, gst, notification Simplifying the tax and tax laws is the main motto of the team tax talk, solving