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When a person domiciled in Luxembourg dies, respectively real estate property is in Luxembourg, the net assets left to the heirs are in principle subject to inheritance tax. Neither the benefactor nor the heirs want to see a large part of their inheritance going to be highly taxed. With some planning in due time, the impact of the taxes can be minimised. Ernst Young has just released its latest tax publication called International Estate and Inheritance Tax Guide 2012, a guide that is quite unique, according to Ernst Young Luxembourg.
The tax guide summarises the estate and inheritance tax systems and describes wealth transfer planning considerations in 27 jurisdictions. It is written for family businesses/entrepreneurs, corporate...
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