Newsletter No. 254

NL254 List of countries with no inheritance tax

Last updated:
2 October, 2024

Reading Time: 2 minutes

List of countries with no inheritance tax

Country	Comment
Brunei
China	When transferring real estate (including on death), a transfer fee is owed.
India
UAE
Qatar
Saudi-Arabia
Oman
Kuwait	Under certain circumstances, Sharia law may give rise to tax-like obligations.
Hongkong
Taiwan	There may be an estate tax of 10% for assets over TWD 12 million (approx. EUR 350,000).
Macao
Singapore
Israel
New Zealand
Mexico
Estonia	Capital gains tax may be applicable to the inheritance of real estate.
Latvia	No taxation of spouses or children.
Liechtenstein
Portugal	In individual cases, inheritances may fall under the definition of gratuitous disposition of assets and may then be taxable under the Stamp Duty Act.
Russia
Malta
Schweden
Slowakia
Cyprus	A transfer fee may apply to some assets.
Austria
Serbia	No taxation of spouses, parents, or children
Norway
Slowenia	No taxation of spouses or children.
Lithuaina	No taxation of spouses or children.
France	No taxation of spouses/registered life partners..
Canada	Capital gains tax is always levied. The sale is deemed to have taken place. The difference between the original acquisition costs and the estimated deemed sale proceeds is then taxed. There are concessions for spouses and for the transfer of agricultural assets to other descendants.
Switzerland	Only imposed at cantonal level, Schwyz and Obwalden do NOT impose inheritance tax. As a rule, spouses (including registered partners) or children are exempt from inheritance tax. In addition, there are extensive tax exemptions that vary depending on the degree of relationship and canton.
Australia	Abolished at federal level, partially imposed at state level. In addition, some inheritances can fall under Capital Gains Tax.
Czech Republic	Only third parties (non-descendants) are taxed.
Luxemburg	There is an inheritance tax, but not for direct descendants.
Hungary	There is an inheritance tax, but close relatives, including direct descendants, are exempt.

We hope that we have been able to assist you with this information.
If you have any further questions, please contact us:

Lorenz & Partners Co., Ltd.

27th Floor, Bangkok City Tower, 179, S Sathorn Rd,

Thung Maha Mek, Sathon, Bangkok 10120

Email: [email protected]
www.lorenz-partners.com
+66 (0) 2 287 1882