Inheritance and Gift Tax
Inheritance tax and gift tax are regulated in one law. Taxable is either a transfer by reason of death or a gift amongst livings. There are depreciations e.g. for family houses, families as well and for entrepreneurs (up to 100%). The tax rate is from 7% up to 50%.
Read more about this topic: Taxation In Germany
Famous quotes containing the words inheritance and/or tax:
“A child is born with the potential ability to learn Chinese or Swahili, play a kazoo, climb a tree, make a strudel or a birdhouse, take pleasure in finding the coordinates of a star. Genetic inheritance determines a child’s abilities and weaknesses. But those who raise a child call forth from that matrix the traits and talents they consider important.”
—Emilie Buchwald (20th century)
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—Mark Twain [Samuel Langhorne Clemens] (1835–1910)