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Czech Republic: Personal Taxation

Inheritance and Gift Taxes

Inheritance tax (sometimes referred to as “transfer tax”) is payable on property inherited by a will or other legislative means. The tax is paid once only; exemptions include spouses and close family relations. The subject of inheritance tax can be property, shares, cash and other fixed assets. Tax is payable on the net value of the property or asset, less any debts that also passed to the beneficiary.

The first CZK20,000 of cash or movable property is exempt; the excess is then subject to tax on a sliding scale, depending on the value of the estate. The rate starts at 3.5% on property valued up to CZK1m, while the maximum rate is 20% on estates valued at CZK50m or higher.

 

 

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