Press Release: Commission proposes measures to tackle cross-border inheritance tax problems

EU citizens that inherit foreign property are frequently faced with a tax bill from more than one Member State. In fact, in extreme cases the total value of a cross-border inherited asset might even have to be paid in tax, because several Member States may claim taxing rights on the same inheritance or tax foreign inheritances more heavily than local inheritances.

Citizens may be forced to sell inherited assets, just to cover the taxes, and small businesses may face transfer difficulties on the death of their owners. To tackle these problems, the Commission has adopted a comprehensive package on inheritance taxation.

Through a Communication, Recommendation and Working Paper, the Commission analyses the problems and presents solutions related to cross-border inheritance tax in the EU. Algirdas Šemeta, Commissioner for Taxation, Customs, Anti-fraud and Audit, commented:

• Primary Source

European Commission: Memo/11/917: Tackling EU cross-border inheritance tax obstacles– Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/917&format=HTML&aged=0&language=EN&guiLanguage=en

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