Review:
Inheritance Tax
overall review score: 2.5
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score is between 0 and 5
Inheritance tax is a tax imposed on the assets, money, and property that you pass on to your heirs when you die.
Key Features
- Taxed on the value of assets inherited by beneficiaries
- Exemptions and thresholds vary by country
- May lead to reduction of wealth passed down to heirs
Pros
- Can help reduce wealth inequality
- Generates revenue for governments
Cons
- Potential double taxation on assets that have already been taxed
- Can be complex and expensive to administer