Thursday, 29 February 2024

Inheritance and gift tax rates around the world

This is the list of countries by inheritance tax rates and tax rates on the amount of gift. Inheritance tax is also termed as estate tax in some countries. Inheritance tax is normally charged to the property of the person before it’s rights are transferred to his heirs.

gift tax is the tax on money or property that one living person gives to another. Property received upon the death of a person are considered separately under the inheritance tax. Many gifts are subject to exemptions given in tax laws.

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Taxation of gifts in Pakistan

TerritoryInheritance tax rate (%)Gift tax rate (%)
Albania (Last reviewed 24 December 2020)NANA
Algeria (Last reviewed 01 June 2020)55
Angola (Last reviewed 05 January 2021)15%15%
Argentina (Last reviewed 28 January 2021)NANA
Armenia (Last reviewed 24 January 2021)NANA
Australia (Last reviewed 21 December 2020)NANA
Austria (Last reviewed 12 January 2021)NANA
Azerbaijan (Last reviewed 01 July 2020)25%.25%.
Bahrain (Last reviewed 18 January 2021)NANA
Barbados (Last reviewed 10 September 2020)NANA
Belarus (Last reviewed 15 June 2020)NANA
Belgium (Last reviewed 07 July 2020)Inheritance tax rate varies depending on the region, the value of the assets inherited, and the relationship between the deceased and the beneficiary.Range between 3% and 7%.
Bermuda (Last reviewed 06 August 2020)NANA
Bolivia (Last reviewed 28 January 2021)1 / 10 / 201 / 10 / 20
Bosnia and Herzegovina (Last reviewed 09 September 2020)NPNP
Botswana (Last reviewed 31 July 2020)12.512.5
Brazil (Last reviewed 31 August 2020)88
Bulgaria (Last reviewed 04 January 2021)Varies depending on category of the heir and the amount of the inheritance.Donation tax due to the local municipalities in the range of 3.3% to 6.6%.
Cabo Verde (Last reviewed 10 January 2021)NPNP
Cambodia (Last reviewed 28 January 2021)NANA
Cameroon, Republic of (Last reviewed 31 July 2020)1020
Canada (Last reviewed 10 December 2020)NANA
Cayman Islands (Last reviewed 03 December 2020)NANA
Chad (Last reviewed 02 September 2020)NANA
Chile (Last reviewed 15 December 2020)2525
China, People’s Republic of (Last reviewed 05 January 2021)NANA
Colombia (Last reviewed 07 July 2020)1010
Congo, Democratic Republic of the (Last reviewed 16 August 2020)NANA
Congo, Republic of (Last reviewed 13 January 2021)NPNP
Costa Rica (Last reviewed 18 August 2020)NANA
Croatia (Last reviewed 30 July 2020)44
Cyprus (Last reviewed 21 December 2020)NANil if up to a third degree relative.
Czech Republic (Last reviewed 25 January 2021)NAIf taxable, the gift is subject to the normal PIT rate.
Denmark (Last reviewed 03 August 2020)1515
Dominican Republic (Last reviewed 07 July 2020)327
Ecuador (Last reviewed 25 January 2021)3535
Egypt (Last reviewed 27 September 2020)NANA
El Salvador (Last reviewed 14 January 2021)NANA
Equatorial Guinea (Last reviewed 01 September 2020)105
Estonia (Last reviewed 26 January 2021)NANA
Fiji (Last reviewed 23 December 2020)NANA
Finland (Last reviewed 19 January 2021)Tax rate depends on the value of the inheritance and the relationship between the beneficiary and the deceased.Tax rate depends on the value of the gift and the relationship between the donee and the donor.
France (Last reviewed 16 September 2019)6060
Gabon (Last reviewed 31 December 2020)NPNP
Georgia (Last reviewed 23 June 2020)NANA
Germany (Last reviewed 09 July 2020)5050
Ghana (Last reviewed 09 July 2020)Inheritance tax is not expressly and separately provided for under the tax laws of Ghana.Gift is included in the income of the individual and taxed at 25% for a non-resident and the marginal rate for a resident; or 15%
Gibraltar (Last reviewed 22 December 2020)NANA
Greece (Last reviewed 21 December 2020)Category A: 10;
Category B: 20;
Category C: 40
Category A: 10;
Category B: 20;
Category C: 40
Greenland (Last reviewed 09 December 2020)NAGifts are taxable as ordinary income.
Guatemala (Last reviewed 04 December 2020)NPNP
Guernsey, Channel Islands (Last reviewed 20 August 2020)NANA
Guyana (Last reviewed 07 July 2020)NANA
Honduras (Last reviewed 17 August 2020)NPNP
Hong Kong SAR (Last reviewed 31 December 2020)NANA
Hungary (Last reviewed 01 January 2021)18% (but a preferential 9% rate applies to residential property).18% (but a preferential 9% rate applies to residential property).
Iceland (Last reviewed 03 December 2020)10Gifts are taxable as ordinary income.
India (Last reviewed 21 December 2020)NASee India’s individual tax summary for gift tax rates.
Indonesia (Last reviewed 29 December 2020)NANA
Iraq (Last reviewed 03 December 2020)6 (over IQD 90 million)Not clear, but it may be subject to the normal PIT rate.
Ireland (Last reviewed 10 August 2020)3333
Isle of Man (Last reviewed 14 January 2021)NANA
Israel (Last reviewed 28 June 2020)NANA
Italy (Last reviewed 02 July 2020)88
Ivory Coast (Côte d’Ivoire) (Last reviewed 01 September 2020)NPNP
Jamaica (Last reviewed 19 August 2020)There is no inheritance tax. However, there is a 1.5% transfer tax on death.NA
Japan (Last reviewed 29 January 2021)5555
Jersey, Channel Islands (Last reviewed 07 July 2020)There is no inheritance tax. However, probate stamp duty is charged on a deceased person’s moveable estate at 0.75% (capped at GBP 100,000).NP
Jordan (Last reviewed 28 December 2020)NANA
Kazakhstan (Last reviewed 26 January 2021)NANA
Kenya (Last reviewed 03 August 2020)NPNP
Korea, Republic of (Last reviewed 08 December 2020)5050
Kosovo (Last reviewed 28 January 2021)NATaxable as ordinary income (10%) unless exemptions apply.
Kuwait (Last reviewed 28 December 2020)NANA
Kyrgyzstan (Last reviewed 24 December 2020)NANA
Lao PDR (Last reviewed 15 January 2021)NANA
Latvia (Last reviewed 07 January 2021)NATaxable as ordinary income unless exempt.
Lebanon (Last reviewed 23 July 2020)4545
Libya (Last reviewed 03 December 2020)NANA
Liechtenstein (Last reviewed 15 January 2021)NANA
Lithuania (Last reviewed 24 January 2021)10NA
Luxembourg (Last reviewed 22 December 2020)NPNP
Macau SAR (Last reviewed 04 January 2021)NANA
Madagascar (Last reviewed 03 August 2020)NANA
Malawi (Last reviewed 15 July 2020)NPNP
Malaysia (Last reviewed 16 December 2020)NANA
Maldives, Republic of (Last reviewed 26 January 2021)NANA
Malta (Last reviewed 22 January 2021)NANA
Mauritania (Last reviewed 03 August 2020)NANA
Mauritius (Last reviewed 05 August 2020)NANA
Mexico (Last reviewed 08 July 2020)NATaxable to the recipient as ordinary income unless exempt (see the Mexico individual tax summary for more detail).
Moldova (Last reviewed 19 January 2021)Patrimony received by Moldovan citizens by inheritance is not taxable.NA
Mongolia (Last reviewed 26 January 2021)NANA
Montenegro (Last reviewed 29 July 2020)3NP
Morocco (Last reviewed 14 September 2020)NPNP
Mozambique (Last reviewed 30 July 2020)NPNP
Myanmar (Last reviewed 04 August 2020)NANA
Namibia, Republic of (Last reviewed 14 January 2021)NANA
Netherlands (Last reviewed 25 December 2020)4040
New Zealand (Last reviewed 14 December 2020)NANA
Nicaragua (Last reviewed 14 January 2021)1515
Nigeria (Last reviewed 28 January 2021)NANA
North Macedonia (Last reviewed 20 January 2021)The inheritance tax rates are proportional and ranging between 0% and 5%, depending on the order of succession, and the rate depends on the decision of the relevant municipality.The gift tax rates are proportional, ranging between 0% and 5%. The rate depends on the order of inheritance succession (if applicable) and the decision of the relevant municipality.
Norway (Last reviewed 13 July 2020)NANA
Oman (Last reviewed 08 December 2020)NANA
Pakistan (Last reviewed 01 January 2021)NANA
Palestinian territories (Last reviewed 22 December 2020)Inheritance is exempt from income tax.Any taxable income from any source for any person is subject to the standard income tax rates.
Panama (Last reviewed 13 January 2021)NANA
Papua New Guinea (Last reviewed 04 January 2021)NANA
Paraguay (Last reviewed 31 August 2020)NPNP
Peru (Last reviewed 26 January 2021)NPNP
Philippines (Last reviewed 29 December 2020)There is no inheritance tax in the Philippines. However, an estate tax of 6% is imposed on the assets of the decedent taxpayer.6
Poland (Last reviewed 10 July 2020)NPNP
Portugal (Last reviewed 20 January 2021)Free acquisition of goods by individuals (inheritance and gifts) is taxed under the stamp tax at 10%.Donation of property is taxed under the stamp tax at 0.8%;
Free acquisition of goods by individuals (inheritance and gifts) is taxed under the stamp tax at 10%.
Puerto Rico (Last reviewed 30 June 2020)NPNP
Qatar (Last reviewed 24 September 2020)NANA
Romania (Last reviewed 21 July 2020)NANA
Russian Federation (Last reviewed 22 September 2020)NANA
Rwanda (Last reviewed 30 July 2020)NANA
Saint Lucia (Last reviewed 06 October 2020)NANA
Saudi Arabia (Last reviewed 31 December 2020)NANA
Senegal (Last reviewed 15 January 2021)NPNP
Serbia (Last reviewed 29 July 2020)NPNP
Singapore (Last reviewed 21 September 2020)NANA
Slovak Republic (Last reviewed 29 September 2020)NANA
Slovenia (Last reviewed 26 January 2021)The tax rate depends on the amount and the line of succession, and can range from 0% to 40%.The tax rate depends on the amount and the line of succession, and can range from 0% to 40%.
South Africa (Last reviewed 10 December 2020)2525
Spain (Last reviewed 16 July 2020)34% according to the state tax scale, which is applicable if the autonomous community has not approved its own tax scale.34% according to the state tax scale, which is applicable if the autonomous community has not approved its own tax scale.
Sri Lanka (Last reviewed 18 January 2021)NANA
Swaziland (Last reviewed 21 April 2020)NANA
Sweden (Last reviewed 20 January 2021)NANA
Switzerland (Last reviewed 06 January 2021)Federal: Exempt.
Spouse: Exempt.
Direct descendants: Exempt in most cantons.
Others: Depending on relationship to deceased and varies per canton.
Federal: Exempt.
Spouse: Exempt.
Direct descendants: Exempt in most cantons.
Others: Varies per canton.
Taiwan (Last reviewed 27 January 2021)1010
Tajikistan (Last reviewed 19 January 2021)Property inherited from another individual is exempt from taxation.In general, property received as a gift from another individual is exempt from taxation. Gifts from legal entities are exempt as far as value of such gifts does not exceed certain limit. In case value of gift from legal entity exceeds the limit, the general 13% tax is applied.
Tanzania (Last reviewed 18 January 2021)NANA
Thailand (Last reviewed 17 January 2021)105
Timor-Leste (Last reviewed 18 August 2020)NANA
Trinidad and Tobago (Last reviewed 09 July 2020)NANA
Tunisia (Last reviewed 31 July 2020)35See Tunisia’s individual tax summary for gift tax rates.
Turkey (Last reviewed 16 October 2020)1030
Turkmenistan (Last reviewed 18 January 2021)NANA
Uganda (Last reviewed 28 January 2021)NANA
Ukraine (Last reviewed 30 December 2020)Taxable as ordinary income (exemption from taxation under conditions may apply).Taxable as ordinary income (exemption from taxation under conditions may apply).
United Arab Emirates (Last reviewed 31 July 2020)NANA
United Kingdom (Last reviewed 12 January 2021)NPNP
United States (Last reviewed 31 July 2020)There is no inheritance tax. However, there is an estate tax with a top rate of 40%.40
Uruguay (Last reviewed 05 January 2021)NANA
Uzbekistan, Republic of (Last reviewed 22 January 2021)NANA
Venezuela (Last reviewed 02 September 2020)Varies depending on degree of kinship.Varies depending on degree of kinship.
Vietnam (Last reviewed 25 January 2021)1010
Zambia (Last reviewed 20 August 2020)NANA
Zimbabwe (Last reviewed 29 September 2020)There is no inheritance tax. However, there is an estate tax of 5%.NA

Source |

See also  Field formations directed to pay all income tax refunds submitted by January 31, 2021: FBR

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)



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