statistics
Income from inheritance tax down for the first time in years
A form for the inheritance tax return as well as a pen and will are on a table. (icon image) photo
© Hans-Jürgen Wiedl/dpa-Zentralbild/dpa
The sum fell by almost ten percent to 8.1 billion euros. Above all, so-called other assets such as bank balances and securities were inherited.
Heirs paid less tax on their inheritance last year. The income from After years of rising, inheritance tax has fallen for the first time compared to the previous year, as reported by the Federal Statistical Office in Wiesbaden.
The sum fell by almost ten percent to 8.1 billion euros. On the other hand, the fixed gift tax rose significantly, by 56.7 percent to 3.3 billion euros.
Overall, the financial authorities recorded transfers of assets through inheritance and gifts of 101.4 billion euros – 14 percent less than in the previous year. The donated assets fell significantly by 23.6 percent to 41.7 billion euros. The main reason was the decline in business assets given away – this value had more than doubled in the previous year. Now the sum has halved and was 12.4 billion euros.
High allowances do not appear in financial administrations
According to the statistics, assets of 59.7 billion euros were transferred through inheritances and legacies, 5.8 percent less than in the previous year. According to the information, the inherited fortune had previously increased for four years in a row. So-called other assets such as bank balances and securities were inherited.
However, the statisticians cannot say exactly how much was inherited in total: Most inheritances and gifts are below the high tax allowances and therefore do not even appear in the figures from the tax authorities. For example, spouses can inherit up to 500,000 euros and their own children up to 400,000 euros without paying taxes.