What does the law say about inheritance tax? Does the law provide for inheritance tax?

At present, China's tax laws and policies do not stipulate the collection of inheritance tax for inheritance. According to the Reply of the State Administration of Taxation on Deed Tax Issues Concerning the Inheritance of Land and Housing Ownership, no deed tax is levied on the inheritance of land and house ownership by legal heirs, and if the non-statutory heirs inherit the land and house ownership during their lifetime according to their wills, it is a gift and deed tax shall be levied.

After-sales public housing is the legal private property of the property owner and belongs to the scope of inheritance. If the child inherits the father's public housing according to the will, there is no need to levy deed tax. Legal inheritance between immediate family members is exempt from tax

There are three basic conditions for the levy of inheritance tax in China.

1. Networking between tax authorities and banks.

2. National networking of individual income tax.

3. The promulgation and implementation of the Property Law.

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The average threshold of the inheritance tax law is 800,000 yuan, which will take into account regional economic differences.

Inheritance tax is a tax levied by a country or region on the inheritance left by a deceased, sometimes referred to as a "death tax" abroad. The original intention of imposing inheritance tax was to prevent excessive disparity between the rich and the poor through the adjustment of inheritance and gifted property.

Inheritance tax is a tax levied on the heirs and legatees of the estate that is levied on the property left behind after the death of the deceased. Theoretically speaking, if the inheritance tax is levied properly, it has certain significance for regulating the wealth distribution of members of the society and increasing the financial resources of social welfare undertakings. Inheritance tax is often established and levied in conjunction with gift tax.

However, in order to attract investment and capital inflows, some countries and regions deliberately do not establish inheritance tax or abolish inheritance tax.

The first is the tax source. China is still in the initial stage of market economy, although there are some wealthier people, but generally speaking, there are still few, the tax source is not optimistic, and the property situation of this part of the people is relatively scattered and hidden, it is difficult to grasp their real property situation;

Second, many people still have a weak awareness of inheritance tax and do not really understand inheritance tax;

Third, the money obtained in the collection is limited, and it is easy to offend people, and in the case of insufficient collection and management power, it will inevitably affect the work enthusiasm of tax personnel.

Legal analysis: No, China's current tax laws and policies do not provide for the collection of inheritance tax on the inheritance of the estate, but the collection of inheritance tax is being discussed, and there may be corresponding regulations in the near future, but it is not levied at present.

Legal basis: Law of the People's Republic of China on the Administration of Tax Collection

Article 1 This Law is enacted in order to strengthen the administration of tax collection, standardize the collection and payment of tax revenues, safeguard national tax revenues, protect the legitimate rights and interests of taxpayers, and promote economic and social development.

Article 2 This Law shall apply to the collection and administration of all kinds of taxes levied by the taxation authorities in accordance with the law.

Article 3 The levy and suspension of taxation, as well as tax reduction, exemption, tax refund and tax compensation, shall be carried out in accordance with the provisions of the law; Where the law authorizes the provisions of the law, it shall be implemented in accordance with the provisions of the administrative regulations formulated by the law.

No organ, unit, or individual may violate the provisions of laws and administrative regulations by making decisions on tax collection, suspending, tax reduction, tax exemption, tax refund, tax compensation, or other decisions that contradict tax laws and administrative regulations.

Article 4 Units and individuals that are liable to pay taxes as stipulated by laws and administrative regulations are taxpayers.

Units and individuals that are required by laws and administrative regulations to withhold and remit, collect and remit taxes are withholding agents. Taxpayers and withholding agents must pay, withhold, collect and remit taxes in accordance with the provisions of laws and administrative regulations.

Legal analysis: Inheritance tax is a tax levied on the heirs and legatees of the estate based on the property left behind after the death of the decedent. The formula for calculating inheritance tax is: amount of inheritance tax payable - net amount of taxable estate x applicable tax rate - quick deduction.

Legal basis: "Provisional Regulations of the People's Republic of China on Estate Tax" Article 1 Any citizen of the People's Republic of China residing in the territory of the People's Republic of China who leaves property at the time of death (including declaration of death) shall be levied inheritance tax on all his estate within and outside the territory of the People's Republic of China in accordance with the provisions of these Regulations. Citizens of the People's Republic of China who do not reside within the territory of the People's Republic of China, as well as foreign citizens and stateless persons, who have property left within the territory of the People's Republic of China at the time of death (including declaration of death), shall be subject to inheritance tax in accordance with the provisions of these Regulations on their inheritance within the territory of the People's Republic of China.

Article 2 The inheritance tax subject to inheritance tax as stipulated in these Regulations includes all the property left by the decedent at the time of death and the donated property that occurred within five years before the death. Article 9 The formula for calculating inheritance tax is as follows: the amount of inheritance tax payable - the net amount of taxable inheritance x the applicable tax rate - the amount of quick deduction.