Sunday, October 6, 2013
China currently has no inheritance or estate tax, but a recent media report has sparked a debate on whether to levy such a tax.
The 21st Century Business Herald recently reported the Communist Party’s top decision makers will consider an inheritance tax at a key November meeting of senior leaders called the Third Plenum.
Inheritance tax supporters believe China’s widening wealth gap demands this tax; however, many feel that China is not ready for such a tax.
See Liyan Qi, Talk of Inheritance Tax Sparks Debate in China, The Wall Street Journal, Oct. 3, 2013.