What does Jarl Moe think about inheritance tax?

If you have ever been on a tax seminar with Jarl Moe you will know that Jarl Moe hates
inheritance tax. Why would you ever pay tax on the money you already worked and paid
tax for when you are giving it to your family unit.
Come to think about it there is no limit on how much toys, clothes, cars, petrol, airplain
tickets or food you can give to your kids. Imagine that you are a millionaire and your
kids live at home and you spend over two million dollars on them on school and fun.
This is tax free and its not considered a gift. But then, Jarl Moe say almost red in his
face, you have to pay tax when you die on the same money you can spend on your
kids. It should simply not be allowed.
Check out this list on how much inheritance tax you have to pay depending on what
country you live in:

Table 1. Top Estate or Inheritance Tax Rates to Lineal Heirs in

the OECD
Rankin
g

Country

Tax Rate

Japan

55%

South Korea

50%

France

45%

United Kingdom

40%

United States

40%

Spain

34%

Ireland

33%

Belgium

30%

Germany

30%

10

Chile

25%

11

Greece

20%

11

Netherlands

20%

13

Finland

19%

14

Denmark

15%

15

Iceland

10%

15

Turkey

10%

17

Poland

7%

17

Switzerland

7%

19

Italy

4%

20

Luxembourg

0%

20

Serbia

0%

20

Slovenia

0%

20

Australia

0%

20

Austria

0%

20

Canada

0%

20

Estonia

0%

20

Israel

0%

20

Mexico

0%

20

New Zealand

0%

20

Norway

0%

20

Portugal

0%

20

Slovak Republic

0%

20

Sweden

0%

20

Hungary[3]

0%

OECD Simple Average

15%

Source: Family Business Coalition.

http://familybusinesscoalition.org
In Japan you have to pay 55% inheritance tax! What the hell are they doing?
Even in a country like Norway the inheritance tax is basically zero percent.
Jarl Moe from the Taxwizards has some advice to give you if you live in United Kingdom
that has 40% inheritance tax, plan to move your address and your residency to Cyprus
and you will be having zero inheritance tax as it was abolished in Cyprus and due to the
double taxation you will be taxed in Cyprus at 0%. This is naturally only for those of you
that expects to inherit a lot of money or assets based in the UK.
Another way to create a safety net, Jarl Moe adds, is to look at trust structures where
you owner of assets give his assets away to the trust. To learn more about trust
structures contact Jarl Moe and the Taxwizards that has a professional team of
specialists setting up trust depending of what type of assets you are protecting and in
what country you are based.
Also of course keep in mind that there are exemptions before the big tax hit you
The U.S. estate tax has an exemption of $5,430,000 in 2015. This is considerably larger
than the exemptions in Japan $247,297, France $105,945, Germany $423,782, and the
United Kingdom $488,280
Stay tuned with more thoughts on taxes and money by Jarl Moe.