Connect with us

Hi, what are you looking for?


Generate Revenue and Preserve Wealth, 7 Countries Where Abolishing Death Taxes Creates Opportunities

(Photo: forbes)

Strategies to Minimize Death Taxes and Generate Revenue Worldwide

Creating opportunities to generate revenue for wealth preservation and inheritance planning, each with varying tax regulations. (Photo: vox)

International Examples of Tax Policies That Do and Don’t Generate Revenue

According to the source, Death taxes, also referred to as estate or inheritance taxes, have been a subject of financial concern and debate in many countries. These taxes can significantly generate revenue and affect wealth passed on to heirs, prompting individuals and families to explore strategies for minimizing their impact.

While these taxes are prevalent in many countries worldwide, some nations, such as Australia, Hong Kong, Canada, Luxembourg, New Zealand, Mexico, and Sweden, have chosen not to impose them, creating opportunities to generate revenue for wealth preservation and inheritance planning. These countries offer various terms for their tax regulations.

Australia abolished inheritance taxes in 1979, but beneficiaries should be aware of potential capital gains tax implications, especially for foreign assets, contributing to the nation’s ability to generate revenue. Hong Kong eliminated its inheritance tax in 2006 and currently has no wealth, gift, or estate tax, offering a favorable environment for asset transfer that doesn’t generate revenue for the government. Canada stands out for not having an estate tax, making it appealing to affluent Americans, although it has complex rules for posthumous asset transfers that may generate revenue.

READ ALSO: Hedge Fund Manager Ray Dalio Raises Alarming Concerns Over 50% Chance of World War III

Diverse Tax Approaches: Generate Revenue Through Alternatives to Estate Taxes

Luxembourg provides a relatively favorable environment for minimizing estate taxes, with tax rates that can be as low as 0%, but non-citizens typically face a minimum rate of 2%, which still generates some revenue. New Zealand mandates a final tax return but does not impose an estate tax, making it attractive for immigration despite its high investment threshold, which generates revenue indirectly.

Mexico, operating under a civil law legal system, doesn’t have formal inheritance taxes but uses a system of donations to regulate asset transfers, potentially generating revenue. Sweden used to have high estate tax rates, but it now imposes no estate tax at death, with some exceptions within its forced heirship laws, leading some to establish foundations in other European countries, potentially generating revenue for those countries.

READ ALSO: Gov. Greg Abbott’s Agenda: Texas Education Savings Account, School Vouchers, Teacher Raises, And Public School Funding

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


A convicted felon in California was arrested after he tortured and hostage two women and staged it as burglary. Convicted Felon Tortured and Kidnapped...


The application for the program, Rise Up Cambridge, in Massachusetts will begin on June 1 and will end on July 31 and qualified residents...


Police authorities arrested a man in Oklahoma after he was accused of raping and killing his 18-year-old graduate who was about to graduate from...

Us News

News from Springfield, Illinois is that a bill that would require public restrooms in Illinois to be available to both genders is coming under...