Inheritance Tax Being Considered in China

Concern over wealth inequality in China, with 70 percent of the country’s wealth owned by 0.4 percent of families, has the government considering introducing an inheritance tax. The discussion began with a draft law published roughly 10 years ago and the new inheritance tax is expected to begin in 2016. The exemption amount is expected to be 800,000 yuan, the equivalent of $129,000.

See, Beijing Said to be Close to Imposing Inheritance Tax in 2016, Want China Times, Dec. 29, 2014.