• Concepts and Ideas

    Inheritance Tax

    “It’s a common saying in Japan that Inheritance taxes are so high that family wealth does not last beyond three generations” – Akio Morita, Co-Founder Sony   Inheritance taxes (In Japan or Estate Taxes in United States) refer to the tax levied on the inheritor or beneficiary of the property/land/estates etc. after the original owner dies. This mostly applies to properties above a certain minimum bracket. Generally millionaires and above.   The arguments in developed nations supporting such an inheritance tax are as follows:   People are forced to sell their assets (which they have not earned) and hence more property (including land) comes to the market hence reducing the…