The government is calling for a hike in the inheritance tax in a draft of integrated reforms of the social security and taxation systems, according to government sources.
Discussions about the reform draft are in their final stage.
The draft also includes a reduction of the gift tax to ease the burden on grandchildren receiving assets from living grandparents, with a view to encouraging asset transfers from older to younger generations, the sources said.
The maximum inheritance tax rate is now 50 percent for estates valued at more than 300 million yen. (Yomiuri)
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