For Willy Borsus, the objective is to work “progressively, starting with the most direct lines”. According to the liberal, the current inheritance tax would be transformed into a “transmission tax”, citing a rate of “for example 5%”. The measure will be subject to negotiation within a more global framework.
“We will obviously have to compensate elsewhere,” added Vanessa Matz, in reference to a broader tax reform. In his eyes, the reduction in inheritance tax is “not a right-wing measure”. “The big estates have sorted themselves out before,” she observed.
Inheritance tax reform and new taxes: this is how Vooruit wants to finance education and healthcare
Currently, inheritance taxes are progressive in Wallonia with different rates depending on the amounts and the degree of relationship.
The lowest rate is 3%, for amounts less than 12,500 euros on inheritances between spouses, cohabitants and heirs in the direct line (child, grandchild, parent, grandparent, etc.), we can read on the SPF Finances website The highest rate is set at 80%, for amounts above 75,000 euros on inheritances excluding spouses, cohabitants, children in the direct line, brothers and sisters, uncles, aunts, nephews and nieces.
Exemptions and reductions exist. Thus, the surviving spouse or legal cohabitant benefits from a total exemption on the net share collected in the building which served as the deceased’s main residence, if he or she had lived there for at least five years at the date of death.
Inheritance taxes bring in 800 million euros to the Walloon budget each year.
