Succession duty

Succession duty
Aug 24, 2010 02:39
NANCYMOON Points: Join Date: Jun 19, 2010 Status: offline	The law of succession of the People’s Republic of China was adopted at the third Session of the Sixth National People’s Republic of China on April 10, 1985, and effective as of October 1, 1985. This law aimed to protect the right of citizens to inherit private property. But how about now, phenomenon of wealthy immigrants and the expanding affluent 2nd generations are becoming key roles for this controversy. Mammonish is tendency among young generations. Should China starts succession duty or inherit tax, and how about the Starting Point for it? multimillionaires perhaps？ In other countries, this may be a issue but many of them may have perfect law systems for it. What do you think, accoding to China's current situation, should wealthy people be required to pay inherit tax?

Aug 24, 2010 02:39

NANCYMOON
Points:
Join Date: Jun 19, 2010
Status: offline

The law of succession of the People’s Republic of China was adopted at the third Session of the Sixth National People’s Republic of China on April 10, 1985, and effective as of October 1, 1985. This law aimed to protect the right of citizens to inherit private property.

But how about now, phenomenon of wealthy immigrants and the expanding affluent 2nd generations are becoming key roles for this controversy. Mammonish is tendency among young generations. Should China starts succession duty or inherit tax, and how about the Starting Point for it? multimillionaires perhaps？

In other countries, this may be a issue but many of them may have perfect law systems for it. What do you think, accoding to China's current situation, should wealthy people be required to pay inherit tax?

Aug 25, 2010 22:01	#1
HELPER Points: Join Date: Nov 3, 2009 Status: Offline	This can't work in China. Those Chinese rich guys are totally different from others in the world. They even couldn't keep their promise to donate their money to the charity organizations. Do you think they will pay the tax willingly? Succession duty has been discussed in the US too. Somebody suggested that succession duty should be abolished. However, more than 120 rich guys opposed this. Why?

Post a Reply to: Succession duty