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If villas like these in the Hamburg district of Blankenese are inherited, inheritance tax is often due
Photo:
Christian Charisius / dpa
Heirs in Germany paid significantly more taxes on inheritance last year.
As reported by the Federal Statistical Office, the tax authorities received 8.5 billion euros in 2020, almost a fifth more inheritance and gift tax than in the previous year.
The inheritance tax accounted for 6.8 billion euros (plus 14 percent) and gift tax 1.8 billion euros (plus 45.8 percent).
Last year, this was based on transfers of assets through inheritances and gifts amounting to 84.4 billion euros.
The inherited and gifted assets considered for tax purposes rose by 5.9 percent compared to the previous year, according to the statistics office.
Business assets are less likely to be inherited
In particular, the inheritance increased - by 13.8 percent to 50.2 billion euros.
Donations, on the other hand, fell slightly by four percent to 34.2 billion euros.
However, statisticians cannot say exactly how much was inherited in total: most inheritances and gifts are below the high tax exemptions.
Therefore, they do not even appear in the figures of the tax authorities.
Spouses can inherit assets worth up to 500,000 euros and their own children up to 400,000 euros without paying taxes.
Last year, among other things, more inheritances from land or shares in corporations were taxed.
Business assets, on the other hand, were seldom inherited in such a way that the heirs had to pay taxes for them.
Since an inheritance tax reform in 2016, which limited special rules for the transfer of business assets, donations of business assets in particular have decreased.
mmq / dpa / AFP