The Liberals (VVD) wants a hefty reduction in inheritance tax and is including this in its opposition budget for 2009, the opposition party reports on its website on Tuesday.
At the moment inheritance tax can be as high as 68% and the VVD wants this reduced to a maximum of 50%. It also calls for the level at which inheritance tax is payable to be increased to €1m so that ‘only millionaires have to pay’.
On its website, party leader Mark Rutte says that people already pay taxes on their income and capital. ‘When you die, the taxman makes a third visit,’ he says, adding that inheritance tax is ‘the most unfair tax that exists’.
The Liberals say they will make €1bn available to pay for lower inheritance tax. The cash will come by scrapping ‘all unnecessary expenditure’, the party says.
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