The Importance of Inheritance Taxes for Effective Planning According to the OECD's 2021 Inheritance Tax Policy Study, gift, estate, and inheritance taxes account for an average of 0.36 percent of all OECD countries' total tax receipts. In nations that impose gift, estate, and inheritance taxes, these taxes account for an average of 0.51 percent of overall tax revenues. Good news It's interesting that, primarily because of exemptions, most estates are not subject to inheritance or estate taxes. From 0.2 percent (United States) to 48 percent, estates are liable to inheritance taxes (Belgium, Brussels). No room for carelessness Although gift, estate, and inheritance taxes are often relatively tiny sources of tax revenue, they promote goals beyond revenue-raising, such as wealth redistribution. Although tax policymakers argue that inheritance taxes are an excellent way to reduce inequality due to inherited wealth, they are widely perceived as unfair taxes. 24 of 36 OECD countries levy wealth transfer taxes. Austria, Czech Republic, Norway, Slovak Republic, Sweden, Israel, New Zealand, Australia, Canada, Estonia, and Latvia do not have estate and inheritance taxes. Since, for your situation, inheritance taxes may play an important role, let's focus on inheritance tax planning opportunities. To learn more, click on the below link https://www.centrolaw.ch/en/insights/detail/inheritance-taxes-the-toolbox-for-effective-planning