Inheritance Tax

In order to determine Inheritance tax a complicated calculation must be made. Every case should be considered on its own merit.

Inheritance tax exempt movable or immovable properties:

a) Properties and income attached to those properties that transferred to trust.

b) Bank deposits (savings or current accounts) only if joint accounts where each one has authority to withdraw separately.

c) Wages, salaries if will be inherited

d) Private goods like jewelries

Land and building valuations are obtained from Land registry Office Bank Loans, creditors and other liabilities can be deducted from assets if proved by official evidence

Tax is %1 on net assets (assets less proven liabilities)

Contact Us