Inheritance And Gift Tax Rates

The applicable rates are multiples of the table rates. The multiple is determined by the beneficiary's relationship to the deceased or donor. The maximum multiple for those with the most distant relationship is three.

    VALUE OF TAXABLE PROPERTY TAX ON     Rate on
     Exceeding       Not Exceeding     Lower Amount     Excess

        FIM               FIM               FIM             %

       15,000            37,500             200             6

       37,500            75,000           1,550             8

       75,000           150,000           4,550            10

      150,000           300,000          12,050            11

      300,000           450,000          28,550            12

      450,000           750,000          46,550          12.5

      750,000         1,050,000          84,050            13

    1,050,000         2,100,000         123,050          13.5

    2,100,000                 -         264,800            14

The content of this article is intended to provide a general information on the subject matter. It is therefore not a substitute for specialist advice.