International Accountants Consortium

Inheritance tax

Most interesting to note:

Countries with no Inheritance Tax for spouse, children and parents:

• Channel Islands
• Czech Republic
• Portugal
• Norway (only spouse)
• Switzerland

Countries with the lowest tax rates:

• Liechtenstein (what a surprise) progressive tariff 1-5%
• Luxembourg – tax on bequest between2-5%

Countries with high allowances:

• Germany (spouse EUR 350,000 and children EUR 225,000) – lowest rate 7%
• United Kingdom (about EUR 350,000) – but very high rate 40%

Countries with positive trends:

• Sweden ! (The Inheritance Tax will be totally abolished from January 1st 2005)
• Spain (There is a trend to reduce the Inheritance Tax)