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| EC Consults On Cross-Border IHT Issues |
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, September 02, 2010
The European Commission has announced the launch of a consultation on tackling
cross-border inheritance tax obstacles within the European Union.
In a research paper commissioned for release alongside the consultation, it
was noted that there are several issues with respect to cross-border inheritance
tax.
In particular, the paper notes that domestic rules on inheritance tax vary
substantially among the 27 member states of the European Union. A majority of
the 27 member states (18) have an inheritance or an estate tax, which is respectively
levied on the heirs or the estate of a deceased person. Out of these 18 member
states, 15 have an inheritance tax, and 4 have an estate tax. Denmark is the
only member state with both inheritance tax and estate tax. Thus, nine member
states impose neither an inheritance tax nor an estate tax.
The paper notes, in particular, two internal market problems for discussion:
Firstly, that cross-border discrimination may arise if non-domestic assets
and/or liabilities are subjected to higher levels of inheritance taxes than
equivalent domestic categories. Secondly, assets and liabilities may end up
being taxed for inheritance purposes in more than one EU tax jurisdiction, potentially
leading to very high levels of taxation. Both problems arise from the fact that
EU citizens own assets outside their home member state and may have relatives
as well in other EU member states.
The paper goes on to discuss various solutions, but the Commission has in addition
called on all stakeholders, including the public, businesses, member states,
tax administrations, intergovernmental, non-governmental and business organizations,
tax practitioners and academia, to provide their views on the matter. Comments
are to be received until September 22.
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