Estate Tax Research Articles

Discussion on Inheritance Valuation Methods When Listed Company Stocks Experience Drastic Price Changes under Estate Tax (II)

Discussion on Inheritance Valuation Methods When Listed Company Stocks Experience Drastic Price Changes under Estate Tax (II)

The Current State Of Personal Property Taxation

A significant portion of local budget revenues is generated from tax revenues derived from individuals' property tax payments. Thus, the property tax levied on individuals is an important factor influencing the development level of the regions in our country. This article highlights the factors affecting property tax volumes and the tax incentives related to its payment. The theoretical and methodological foundations of taxing individuals on property are examined. The components of the property tax are analysed: the tax on real estate, excluding land plots, transport tax, and land use fees. The mechanism for collecting property tax from individuals is discussed under the Tax Code of Ukraine. The fiscal effectiveness of the existing system of property taxation for individuals in Ukraine is analysed, along with the peculiarities caused by the imposition of martial law. In the context of armed aggression against Ukraine, government budget expenditures have significantly increased. Therefore, studying the fiscal function of the property tax on individuals is a pressing issue. The article presents data on the payment of real estate tax by individuals, excluding land plots, transport tax, and land fees, before and after the onset of military actions in Ukraine. The research has established that the volumes of tax revenues from individuals' property taxes are increasing yearly. The research results confirm that the property tax on individuals, under martial law, is a substantial source of funding for local budgets in Ukraine. This underscores the importance and necessity of further enhancing the fiscal function of this tax. It has also been established that the fiscal potential of the property tax on individuals is not fully utilized due to the deficiencies in the existing taxation system. Brief examples of property taxation for individuals, based on the assessed value of such property in foreign countries, are provided. The prospects for reforming the property taxation system for individuals in Ukraine are discussed. Recommendations for reforming the property tax for individuals are formulated to increase its fiscal function.

An Analysis of the Factors Affecting Real Estate Taxes Literacy in Türkiye

This research aims to determine taxpayers’ literacy level about the financial obligations related to real estate, an important investment instrument in Türkiye, and the factors determining literacy. In this context, primary data were collected through surveys administered to 500 people who resided in Istanbul, Ankara, and Izmir. Primary data analysis was carried out using two methods. First, the real estate tax (RET) literacy was calculated through percentage analysis. Second, using discrete selection models, variables likely to affect the literacy of real estate taxes collected could be estimated. As a result, the primary data show that RET in Türkiye is 30%. According to the estimation results, the gender, age, and income variables are effective regarding fiscal rights related to property in Türkiye.

A Critical Analysis of Selected Aspects of Real Estate Taxation in the Context of Recent Legislative Amendments in the Czech Republic

The real estate tax is the sole property tax in the Czech Republic and has been part of its tax system since its establishment, i.e. since January 1, 1993. The Czech Republic has long been recommended by the Organisation for Economic Co-operation and Development (OECD) to increase the collection of this tax because its yield as a share of gross domestic product (GDP) is one of the lowest among all OECD and EU countries. The lower yield is in part attributable to the manner in which the tax base is determined. The Czech Republic, with the exception of a few minor instances, continues to employ the assessment-based rather than the value-based method of determining the tax base. Furthermore, the Czech Republic is encouraged to use the correction elements at the disposal of municipalities to influence the amount of property tax. This article examines the revenue aspect of real estate tax in the Czech Republic, including the determination of the tax base and the use of correction mechanisms. In light of these considerations, it is evident that the development of the Czech real estate tax system has been influenced by a number of factors, including the introduction of one of the most significant amendments to the Real Estate Tax Act in the country’s history. This amendment, known as the consolidation package, was implemented on January 1, 2024 and has had a profound impact on the current legislation.

The intentionally defective grantor trust: a strategy for Swiss resident US persons engaging in US gift tax exemption planning

Abstract US Persons (including foreign residents) should prepare for the reduction in the US estate and gift tax lifetime exemption scheduled for 2026. A common planning strategy is to set up irrevocable trusts to divest themselves of part of their wealth. However, for US Persons living abroad, a transfer into trust can result in double taxation of income with no treaty relief. An intentionally defective trust can thread this needle, constituting a completed gift for US lifetime exemption purposes while allowing the application of mechanisms to prevent double taxation of income.

A Case for the Need to Improve the Unilateral Double Taxation Relief for Estate Duty in South Africa

This article aims to address a specific problem statement, namely how the unilateral relief under the Estate Duty Act can be enhanced to alleviate the potential hardship of double estate taxation on cross-border estates. Double taxation is a common occurrence when a person owns properties in more than one country, which become part of their estate at the time of death and liable for estate tax. The limited estate tax treaty network causes countries to reconsider their unilateral relief provisions under their domestic legislation. South Africa faces the same challenge under the Estate Duty Act. This article highlights the areas where clarity is needed in relation to the type of foreign death duty that may qualify for tax relief, such as the scope of qualifying foreign property, the exchange rate applicable and the date on which the conversion should be done, as well as the limitations and conditions of the unilateral relief available under the Estate Duty Act. Insights are provided that could be considered for possible amendments to the Estate Duty Act to provide greater clarity and certainty in calculating the estate duty liability payable in South Africa.

Analysis on Cases of Gifts Within Two Years before Death in Estate Tax

Analysis on Cases of Gifts Within Two Years before Death in Estate Tax

Discussion on Inheritance Valuation Methods When Listed Company Stocks Experience Drastic Price Changes under Estate Tax (I)

Discussion on Inheritance Valuation Methods When Listed Company Stocks Experience Drastic Price Changes under Estate Tax (I)

Discussion on the Application of Trust Assets in Estate Tax Payment According to the Latest Interpretation from the Ministry of Finance-Starting from the Ministry of Finance's Directive No. 11300533430 dated June 14, 2024

Discussion on the Application of Trust Assets in Estate Tax Payment According to the Latest Interpretation from the Ministry of Finance-Starting from the Ministry of Finance's Directive No. 11300533430 dated June 14, 2024

Will the new definition of a building structure as a subjectof real estate tax put an end to interpretation disputes?

Cascading terminological connections with the provisions of construction law have led to a pathological mechanismof amending the real estate tax without changing the tax act, but through changes to a large group of normativeacts that, prima facie, have nothing to do with taxes. As a result of the Constitutional Tribunal’s judgmentin case SK 14/21, the Ministry of Finance prepared an amendment to the Act on local taxes and fees, which is intendedto cut off connections with the provisions of construction law.

Legal and administrative elements of the construction of tax exemptions and allowances in the context of granting public support

Among the forms of public assistance of a passive nature are tax concessions and exemptions. A given form of aid can be of liquidity support, rescue and restructuring and pro-development nature for the enterprise. This form of assistance is reflected in the reduction of revenues to the state and local government budgets. Tax credits, used as investment incentives for entrepreneurs, can affect the growth of production, and in the case of new investments, the creation of new jobs or the retention of existing ones. The article presents the provisions of the tax law on real estate tax in correlation with the law on state aid, in the context of an assessment of - to what extent on the grounds of real estate tax it is possible to operate reliefs and exemptions that constitute state aid for entrepreneurs. The legal problems of providing state aid and the issues of tax procedures in the field of tax reliefs and exemptions and the calculation of the net value of state aid are presented.

Real Estate Price Prediction Using Spatial Artificial Neural Networks: An Alternative to Market Value for Taxation of Urban Real Estate

Real Estate Price Prediction Using Spatial Artificial Neural Networks: An Alternative to Market Value for Taxation of Urban Real Estate

ANALISIS HUKUM MENGENAI TATA KELOLA PAJAK BUMI DAN BANGUNAN PERKOTAAN DAN PERDESAAN DALAM RANGKA PEMBANGUNAN DAN KESEJAHTERAAN MASYARAKAT DESA

This study aims to learn about and analyze legal studies on rural and urban land governance and building tax in the context of development and well-being of rural communities and to know the role of information technology in the management of rural and urban areas of the United Nations in order to improve community obedience and discipline of the tax system. The method used is to make the field of legal science the foundation of its mother science, so the research used is normative legal research. The results showed that the Rural and Urban Property and Construction Tax (PBB-P2) should be collected on the basis of laws and regulations from the top to the implementing regulations, namely village regulations and information technology optimization, as it plays an important role in the management of the Rural and Urban Property and Real Estate Tax (PBB-P2). In terms of increased public obedience, information technology can be used to facilitate and speed up the tax payment process. For this reason, it is important to guide UN-P2 governance to village governments on the basis of fair and transparent legal principles, in order to foster the development and well-being of rural communities.

WAYS OF IMPROVING THE METHODOLOGICAL FRAMEWORK OF MASSIVE EVALUATION OF REAL ESTATE IN THE REPUBLIC OF MOLDOVA

This article focuses on researching the methodological development of real estate assessment in the Republic of Moldova, addressing the significant financial losses incurred by local public administrations due to the absence of an updated, appropriate, and transparent assessment system for taxation purposes. The fundamental hypothesis posits that enhancing the methodological and institutional framework of mass appraisal will lead to a progressive evolution of the real estate market relations and the stable development of efficient and equitable tax systems in Moldova. The study aims to identify and propose solutions to current issues in the national mass appraisal system, primarily related to the unavailability of market data and the use of outdated methodologies. Employing scientific techniques such as analysis, deduction, induction, grouping, comparison, analogy, scientific abstraction, synthesis, and statistical methods, the author assess the effectiveness of proposed methodological developments by comparing quality indicators of old assessment models with those developed based on the proposed methodologies. The results obtained support the idea of creating, implementing, and sustaining a mass appraisal system as a foundational element for a fair real estate taxation system, fostering regional development, and supporting economic activities related to the real estate market in the Republic of Moldova.

Real Property Tax Administration System Implementation and Clients’ Satisfaction in Calamba City Barangays

The study attempted to investigate real estate owners' views on computerizing the Real Property Tax Administration in Calamba City's barangays. Transparency, accountability, involvement, and compliance were critical due to the high rate of delinquent taxpayers. The study analyzed the connection between customer satisfaction and implementation level. A questionnaire was used to collect 140 responses. Mean, correlation, and Likert scale were used to analyze the data. The main findings of the study revealed that real estate owners in barangay had a positive view of the computerization of real estate tax administration. The combined percentage of "very satisfactory" and "satisfactory" responses was consistent in all key areas. This indicates that the public perceived the local government's services as proactive and customer-centric. Since the variables were inter-connected in a way, this study proved that the implementation of the Real Property Tax System and the Client’s Satisfaction level in Calamba City did meet the expected outcome of the research. Respondents positively matched all the questions, which led to a satisfactory result or more, and projected the implementation of the system. The Sub-Variables Responsiveness, Reliability, and Assurance provided a lot of positive results in this research; the answers of the respondents created an idea of advancing the proposal of this study. Despite the high satisfaction rate, there is always room for improvement. Therefore, the output of the study recommended an action plan to enhance the ongoing initiative, develop innovative approaches, and boost the confidence and productivity of barangay workers.

The Swedish business elite and the gift explosion of 1947

ABSTRACT In 1948, the social democratic government of Sweden imposed new wealth transfer taxes including an estate tax. Events have been characterised as the definite breakdown of the co-operation between social democracy and organised business. This article attacks the topic from the perspective of the reproduction of the business elite through the inheritance and the gift. The tax reform triggered an epidemic of generosity. In 1947, gift tax revenue was 20 times higher than the annual averages before and after. We have studied the individual actors of the Swedish business elite as donors and concluded that 76 couples of the business elite transferred 25.2 msek to above all their children. The joint political campaign of organised business against the reform raised 24.8 msek. The result complicates and questions previous assumptions concerning the motives of the business elite for protesting against the tax reform.

재건축초과이익환수제도의 존재와 폐지의 담론

According to the management status of apartment complexes in Seoul at the end of 2023, there are 960 apartment complexes that are over 30 years old, accounting for 25.4% of the total, and the number of apartment complexes that will be over 30 years old within the next 10 years is expected to reach 57.5%. Therefore, it is expected that the controversy over reconstruction will continue in the future. However, in 2006, the Act on Recovery of Excessive Reconstruction Profits came into effect, and the Reconstruction Excessive Profits Recovery System, which recovers up to 50% of development profits resulting from reconstruction, has consistently raised unconstitutional claims regarding infringement of property rights, violation of the principle of equality, and double taxation. It has been done. Under this background, the National Assembly proposed on June 5, 2024, the 'Abolition of the Act on the Recovery of Reconstruction Excess Profits', which would abolish the recovery of excess profits from reconstruction. Recently, the Minister of Land, Infrastructure and Transport also stated his position that the comprehensive real estate tax and reconstruction excess profit recovery system should be abolished. Therefore, this study examines the theoretical discourse on the maintenance or abolition of the reconstruction tax profit recovery system, which is the subject of controversy.

국제회계기준(IFRS) 도입에 따른 부동산 가격이 국가 재정건전성에 미치는 영향

Due to the COVID-19 virus outbreak, inevitable welfare spending has increased sharply, and as the national debt has increased sharply, international credit rating agencies have considered downgrading Korea's credit rating. However, the Korean government has provided support for supplementary budgets and welfare policies, and as a result, national debt is increasing and national Financial soundness is deteriorating. Accordingly, based on previous studies, this study aims to present real estate-related policy measures that can fundamentally improve the national fiscal soundness so that the national credit rating is not degraded by studying how asset revaluation gains and comprehensive real estate taxes caused by real estate price increases affect national fiscal soundness indicators based on International Accounting Standards (IFRS). As a result of the study's analysis, the introduction of international accounting standards resulted in conditional results that 'an increase in the declared value of real estate can be positive for the national fiscal soundness', and in this study, four policy improvement measures related to real estate were proposed. Through these policy implications and fiscal policies such as institutional improvement measures, the government is expected to improve the national fiscal soundness while maintaining the national credit rating.

Zarządzanie środowiskiem na Łotwie: Przegląd dobrego zarządzania i wdrażania

Environmental governance implementation at all levels starting from EU up to local level need to have necessary capacity and whole set of governance instruments to ensure that the governance process reaches planned outcomes. The primary aim of the environmental governance assessment in Latvia is to review the implementation of environmental governance at the national level, but considering importance of municipal level as well. The initial part of this study was also part of the European Commission project, realized in the all EU Member States and then were studied several good governance characteristics as transparency, accountability, access to justice, participation, effectiveness and efficiency, and others. There were done all related document studies and additional selected interviews with key experts in the field and representing both governance levels, national and local. The continuation studies done kept similar approaches, however aiming at qualitative updating of environmental governance situation overview, according to the various substantial environmental and administrative-terririal and other changes which were taking place in the meantime in Latvia. Also there were additional studies performed, especially, stressing the importance of municipal environmental governance. Researchers used data and document studies, as well as consultations (express interviews) with related environmental experts/practitioners of different governance levels in the country. There are various environmental governance instruments at national level, having planned impact on local level governance, but local municipalities, as legal entities in the field of public law, first of all rely on regulatory enactments which define in detail the functions, rights and duties of local governments. The legislative framework is exhaustive and detailed, but it is fragmented in relation to the environment protection. Coordination mechanisms between local, regional, and national levels are complicated. The development of infrastructure at national level is mainly linked to existing standards, regulations and procedures for construction, exploitation, etc., as well as the distribution of available EU funds and monitoring and control of use. The financial-economic framework at national level defines the source of municipal finances – real estate tax, population income tax, natural resources tax, but there are yet limited financial mechanisms for local governments of municipalities to stimulate business development in their territory, promote sustainable forms of business, promote the use of renewable energy sources (e.g. wind parks). As regards the institutional and administrative framework and the framework for communication process and its complementary instruments, there are only separate restrictions imposed by regulatory enactments, leaving the local government level with a relatively large freedom of choice, but within their administrative capacities and financial resources available. Effective mechanisms to enable members of the public to make complaints about environmental problems are in place, and for those complaints to be properly addressed, are an important part of environmental compliance assurance. They also reinforce public confidence in environmental laws. Environmental governance in general in Latvia is well enough framed and developed in all governance levels – national, regional, local and grass-root level.

Analysis Of The Growth Rate Of Hotel Tax and Advertising Tax In Ambon City

This study aims to look at the rate of tax growth on the realization of hotel tax receipts and real estate tax of Ambon City District during the period 2018-2022. This study is a quantitative study whose results can be accounted for in numbers. Population and sample research is a report on the realization of receipts of hotel tax and advertising tax in the year 2018-2022. Data collection techniques using data collection techniques such as Time Series, Documentation and Library Studies. The research shows that the highest rate of growth of hotel tax is in 2021 at 33.59%. This figure falls in the category “Less Successful” while the advertising tax has the greatest percentage of 17.40% but this figure is in a category below 30% which means in category “No Success”. For that, the local government is expected to reevaluate and maintain the regional tax so that it can rise to the category of success or very success.