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Inheritance tax: Great heirs hardly pay taxes in Germany

2019-12-02T09:11:03.415Z

Figures from the Federal Government show that the higher the inherited or gifted assets, the lower the tax burden. The left criticizes this as "extreme injustice".



On inheritances or donations with amounts of more than ten million euros in 2018 hardly had to be paid in Germany taxes. This emerges from the response of the Federal Government to a request from the left, reported by the Süddeutsche Zeitung . According to that, a good 600 Germans together received 31 billion euros, to which on average only five percent of taxes were due.

Two-thirds of the almost 40 citizens who inherited or donated 100 million euros or more were therefore tax-free. Anyone who received 100 million euros or more last year paid on average only a tax of 0.2 percent, according to the German government's response.

According to the data, the average tax of the grand heirs is half as high as for inheritances of one to ten million euros. This applies in particular to heirs of companies for which there are a number of fiscal exemptions. "If a company is inherited or given away, it usually costs far less tax than, for example, securities or real estate," said Stefan Bach from the German Institute for Economic Research.

While business associations defend these exceptions - above all jobs would be secured in the middle class - criticized the Left Party this practice. Their leader Dietmar Bartsch described Germany as a "tax haven for multimillionaires". It is "extremely unfair that children have to live in poverty, retirees are increasingly asked to pay, the middle experiences no appreciable relief and super rich heirs and donated to astronomical sums hardly pay taxes," Bartsch is quoted by the South Germans.

Source: zeit

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