Direct tax
Sharp increase in the annual tax to compensate for inheritance tax from 2024
For years the situation remained unchanged with regard to the annual tax to compensate for inheritance tax, better known as wealth tax. This form of wealth tax applies to international and domestic non-profit organisations (INPOs/NPOs) and private foundations. However, on 28 December 2023, a new law containing various tax provisions brought in changes, with various adjustments being made to the wealth tax. These modifications relate to aspects such as the taxable base, the rate, allowances and an exception for specific sectors. The changes have significant consequences for international and domestic non-profit associations and private foundations. To make the situation clearer, we briefly discuss the most important changes below.