A China Inheritance Tax. Steve Dickinson On CCTV-9 Says "Please Don't."
CLB co-blogger was on CCTV's Dialogue show last week discussing whether China is ready for an inheritance tax. The Moderator was Tian Wei and Steve was on there with David Lee, from the Beijing Dacheng Law Offices. The show was described as follows:
With China's rapid economic development, the wealth gap in the country is also widening. As a result of that, people are talking about the possibility of inheritance tax. How viable is the situation to implement and levy this inheritance tax? What are the debates behind this?
Steve is of the view that China is not ready for such a tax because, among other reasons, China has yet to develop a good personal asset reporting/monitoring system.
To watch and listen to the entire interview, go here.
Comments (4)
Read through and enter the discussion by using the form at the endTerry - January 28, 2008 11:39 PM
China shouldn't even contemplate such a tax!! Am to tired to muster all the arguments about Death Taxes and their adverse impact on economic activity. I just live in hope that they don't develop a "good"???? personal asset reporting/monitoring system. The old world is finally realizing the negative impacts of death taxes and slowly but surely reducing them. Why repeat their folly?
Well, I guess it would make for good business for growing legions of tax lawyers and advisers, as well as induce additional capital flight and an even greater reluctance to share information with the ever growing over arching state.
Mendel Potok - August 31, 2010 8:04 AM
Death taxes would be horrible for China! In the West it only serves to rob families of the hard work of their parents, which should belong to the children. With so many Chinese without savings, this can only hurt our people.
process server dan - December 7, 2010 12:00 PM
I agree with mendel. This is a joke is they are robbing these poor Chinese of what little they actually have to hope to inherit. It's bad enough that we have death taxes in a relatively rich country like the USA.
Jordi - April 14, 2011 2:55 PM
Just curious what has happened with this tax. Anything new come down on this?