SHASHWAT NISHANT
Inheritance tax, also referred to as estate tax or succession duty, is a tax imposed on the assets and wealth left behind by an individual.
Inheritance Tax
Japan imposes inheritance tax ranging from 10% to 55%, making it the sole OECD member country to enforce such a tax. The tax slabs vary from 10 million yen to over 600 million yen.
Japan
South Korea levies inheritance tax of up to 50%, with discussions underway to potentially increase the upper limit to 60%, as reported by the Wall Street Journal.
South Korea
France's inheritance tax spans from 5% to 45%, with rates of 50% for individuals with one child, 66% for those with two children, and 75% for parents with more than two children.
France
The United Kingdom applies a 40% inheritance tax, applicable solely to the portion of assets exceeding the €325,000 threshold.
United Kingdom
In Greece, marginal inheritance and gift tax rates stand at 10% for spouses, parents, and children, 20% for close relatives, and 40% for other beneficiaries.
Greece
Spain's inheritance tax ranges from 7.65% to 34%, depending on the value of the inherited assets.
Spain
In Ireland, the standard rate for inheritance tax in 2024 is 33%
Ireland
Belgium's inheritance tax rate varies from 3% to 30%, depending on the value of the inherited assets.
Belgium