Inheritance Tax Issues
Non-Belgian residents tax charges are made at the standard tax inheritance rates on the gross value of the real estate property, the gross tax base being the property’s market value at the death of the owner. Tax rates are progressive, and they vary according to the region where the inheritance is opened, degree of kinship to the heirs, and the share inherited by each.
Inheritance Tax
The law determines the taxes charged upon the transfer of the property spouses, co-habitants, and lineal relatives such as children, parents, grandchildren, and grandparents. Each region charges different rates for exemptions and deductions. An important thing to remember in inheritance tax issues is that heirs are also required to pay transfer duty, which is calculated on the value of the acquired property. The current tax rate is 12.5% in Belgium.
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A growing issue surfacing in the society right now is with regards to the real estate industry. The society and most of economists as well thinks that there is insufficiency of effective real estate law.