Inheritance and gift taxes in Europe should be abolished rather than increased, according to the latest Tax Foundation report, published on Tuesday 23 April.
The foundation disputes the OECD’s view that such taxes are a means of reducing wealth inequality. Their limited capacity to raise revenue and their negative impact on entrepreneurial activity, savings and work should encourage policymakers to consider repealing them rather than boosting them.
At present, 24 of the 35 European countries covered by the report levy inheritance or gift tax. In Europe, the tax rates applied to estates, inheritance and gifts often depend on the degree of family closeness to the heir and the amount of the inheritance.
In some countries, such as Belgium, Spain and Switzerland, tax rates on estates, gifts and inheritance also vary from region to region. Most European countries do not tax transfers below a certain amount.
Read the study: https://aeur.eu/f/c01 (Original version in French by Anne Damiani)