Inheritance tax

As early as 1916, an inheritance tax was introduced, which fully discloses the process of transferring the right to property of a deceased person. The person receiving the property is called the heir or beneficiary.

The inheritance tax is levied on any movable and immovable property that becomes the property of another person after the death of the owner, in the form of an interest rate determined by the authorized state body. He is paid by a physical or legal person, at the disposal of which the property passes.

Payers of property tax are entitled to receive certain benefits or discounts in the form of a reduced interest rate. Cases subject to preferential taxation are clearly spelled out in the relevant legislative act and depend on the degree of kinship of the beneficiary to the deceased or on the amount transferred by inheritance. In the Russian Federation, a progressive tax rate is established, that is, the more income received in the order of inheritance , the greater the percentage is used to calculate the amount that is deducted to the budget.

In practice, there are certain rules, for example, the declaration should be filled only if the total value of the property is more than 600 thousand dollars. It is submitted to the appropriate state body within 9 months from the date of death of an individual, but in the presence of valid reasons and the need for this period can be increased. Then it is necessary to give permission to the tax service. As mentioned above, the rate is differentiated and is about 18% for real estate, relatively inexpensive, and as much as 50% for property worth more than $ 3 million.

The inheritance tax was combined with a gift tax, so property donated by an individual or received after his death is valued by common standards. If we talk about the right of inheritance, then real estate is subject to valuation at its value on the date of death of the owner. A taxpayer is a natural or legal person in whose favor movable and immovable property passes. The object is considered to be directly property. The tax base is the gross value of the property accounted for.

In the issue of determining taxpayers and part-time beneficiaries, the current legislation determines a specific order in which the real estate passes to a new owner. That is, the inheritance tax assumes that the existing property after the death of the person passes first of all to parents, spouse and children, since they are direct heirs. If there are none, the right is passed on to grandparents, as well as to siblings. The third place includes aunts and uncles, and then grandparents and great-grandmothers. The most recent heirs are stepmothers and stepfathers, stepchildren and stepdaughters.

A person entering into property rights must be fully capable and psychologically balanced. The inheritance tax assumes the entry into force from the moment of death of one of the subjects of legal relations. But there are cases when the citizen is missing, then the opening of the inheritance can occur only after the official decision of the judicial body to recognize the person dead. As a rule, this is carried out not earlier than three years after the loss of a citizen. Since the date of issuing the resolution, you can claim the property, and consequently, the inheritance tax can be considered. At the same time, the beneficiary has the right to act as a resident or non-resident of the country, as well as a stateless person.