Inheritance Tax, Gift Tax and more

[dimpy.handa]

Are you for or against an inheritance tax of any type upon death? Do you agree or disagree, that financial gifts to individuals are just that and should not be taxed once it exceeds an allocated permissible amount or required to be claimed as income?

Should people not freely be allowed to pass financial gifts and material possessions to whom they choose without being penalized with taxes?

 

[swatiraohnlu]

In international tax law, there is a distinction between an estate tax and an inheritance tax: an estate tax taxes the personal representatives of the deceased, while an inheritance tax taxes the beneficiaries of the estate. However this distinction is not always respected.