Ian_Lee Posted February 23, 2006 at 12:30 AM Report Posted February 23, 2006 at 12:30 AM Inheritance tax may be an important factor on where you should put your money if you are not that young. Some informations about it in Greater China: (1) Mainland -- Currently there is no inheritance tax. But due to the ever-widening gap between rich and poor, there is strong voice among academic circle to impose inheritance tax. And like the relaxation of RMB exchange rate, the change may be sudden. Even though there is no inheritance tax, there may be many administrative hassles for your family members to inherit your investment in Mainland. (2) Hong Kong -- Just done away with inheritance tax this year. But it is advisable to set up your will since the court will appoint an attorney for probate that can cost your family a fortune. (3) Taiwan -- Progressive inheritance tax rate up to 50%. In case of overseas Chinese (Note: not overseas Taiwanese but overseas Chinese), they can still enjoy the privilege of reduction of 50% tax on remittance out of the island. Quote
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