Conditions And Systems Of Inheritance Tax Levy Compared

This essay proceeds with comparison of status quo and development and institutions of legacy tax in other countries. It first explains categories of the legacy tax systems and gives examples so as to sum up the main features of legacy tax. Secondly, it focuses on studies on the legacy tax institutions of a few representative countries such as the US and the UK. It analyses comparatively the origin, history, development and status quo of the individual legacy tax system in different countries. Through comparison of elements in these systems, such as taxpayer, taxation objects, legacy assessment, tax rate, tax deduction and substitution, taxation and penalty, it presents a transverse picture of legacy tax systems in other countries.Thirdly, the essay analyses problems existing in the current property taxation system in China and disadvantages for legacy tax imposure. It comes to the conclusion that to impose legacy tax under present situation would bring more disadvantages than advantages. Therefore, it is not appropriate to start legacy tax at present. To answer the question that when is it a proper time to start imposing legacy tax in China, the essay explores in related fields such as premises of imposture, taxation modeld and supporting institutions and legislation. To conclude, legacy tax imposture in China should be launched when the supporting policies, laws and regulations and the assessment systems being established and improved.