Inheritance Tax Legislation

Inheritance tax is an old kind tax which levies on ancestor's property after ancestor's death. So far, more than 100 countries and regions levies inheritance tax and it became an international tax. With the rapid development of economy in China, social disparity has become a controversial issue during recent years. Inheritance tax is being focused by the theory and practice sector in China because it will promote social equality. It is possible and necessary to legislate inheritance tax law according to current reality of China. Promulgating inheritance law will narrow the gap between the rich and the poor, ease social conflict and achieve common prosperity. Furthermore, conditions of levying inheritance tax such as law, economy is mature. So levying inheritance tax is becoming possible. However, Inheritance tax is complex and involved a wide range. Meanwhile, collection and management is difficult. So it will have to confront some problems as well. Therefore, inheritance tax should be promulgated promptly according to the current reality of China and the experience of other countries and regions in order to promote to construct Chinese tax system.The background and meaning of the essay will be introduced in preface. The body of the article is divided into five parts:Firstly, introduce the basic principle of inheritance tax and the nature of concept of inheritance tax. Besides, analyst functions of inheritance tax.Secondly, the history of inheritance of tax:describe its emergence and development from historic perspective and include ancient and modern inheritance tax, history of Chinese inheritance tax.Thirdly, analyst foreign inheritance tax and inheritance tax in Hong Kong and Taiwan. Introduce foreign inheritance tax, mainly introduce inheritance tax system of Japan, America, Germany, British. Meanwhile, introduce inheritance tax in Hong Kong and Taiwan and compare between these countries and regions. Besides, what is the referential significance to China from system of these countries and regions estate.Fourthly, conditions of levying inheritance tax in China, this chapter is the foothold of papers. According to referential significance from the vertical and horizontal analysis of the previous two chapters, the author will analyst the possibility and necessity of levying inheritance tax in China.Fifthly, some thoughts about levying inheritance tax in China, mainly discuss problems and solution in levying inheritance tax and the related improvement of the legal system and modifications. Finally the author will focus on choice of the establishment of Estate Duty. This paper mainly applies the method of literature, support the use of historical analysis; economics analysis method is involved in the article due to the close relationship between the tax and economics as well.Characteristics of the paper are the following. First of all, update materials and data of inheritance tax based on the previous research. The structure of the article is different from previous research. In addition, discussing necessity of levying inheritance tax is combined with contemporary background, so put forward some new points which are requirement of constructing a socialist harmonious society. Furthermore, as to problems of levying inheritance tax in China, the writer claims that some problems lead to some concerns because of the flaw of China's social security system. Lastly, the writer puts forward some new opinions regarding to time of death report of the reporting system.