China Considering Inheritance Tax?

China currently has no inheritance or estate tax, but arecent media report has sparked a debate on whether to levy such a tax.

The 21^st Century Business Herald recentlyreported the Communist Party’s top decision makers will consider an inheritancetax at a key November meeting of senior leaders called the Third Plenum.  

Inheritance tax supporters believe China’s widening wealthgap demands this tax; however, many feel that China is not ready for such atax.

See Liyan Qi, Talk of Inheritance Tax Sparks Debate inChina, The Wall Street Journal, Oct. 3, 2013.