“Old-world” economies charge higher inheritance and estate taxes than “new-world” economies, according to a study by UHY International.
The study examined inheritance and estate tax rates in 23 major economies around the world, measuring the amount of inheritance tax paid on estates of individuals living in those countries. Generally countries do not assess a transfer tax on estates passing from a deceased spouse to the surviving one. The study pointed out that if exemptions or thresholds for inheritance taxes are not adjusted in line with inflation, taxes that were originally designed to apply only to the wealthy will start to affect a larger portion of the population.
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