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Thread: Succession duty
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[quote=NANCYMOON,405195]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?[/quote]
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