The OECD has published a new report Inheritance taxation in OECD countries setting out a comparative assessment of inheritance, estate and gift taxes across 37 OECD member countries.
The report finds that 24 out of 37 states currently levy some kind of inheritance or estate tax, but that they typically raise very little tax (on average 0.5% of total tax revenues). The UK is at the higher end at 0.71%, but at the lower end in terms of the number of estates that are subject to tax (3.9%).
The report highlights a wide variation in tax design and rates and sets out proposals for reform to enhance revenue potential, efficiency and fairness of inheritance, estate and gift taxes.
The OECD has published a new report Inheritance taxation in OECD countries setting out a comparative assessment of inheritance, estate and gift taxes across 37 OECD member countries.
The report finds that 24 out of 37 states currently levy some kind of inheritance or estate tax, but that they typically raise very little tax (on average 0.5% of total tax revenues). The UK is at the higher end at 0.71%, but at the lower end in terms of the number of estates that are subject to tax (3.9%).
The report highlights a wide variation in tax design and rates and sets out proposals for reform to enhance revenue potential, efficiency and fairness of inheritance, estate and gift taxes.
