2023-10-30 07:00:00
We received this question from Bernadette: “I am going to inherit soon. Will I have to pay taxes on this inheritance?”
No, you will not have to enter anything in your tax return in relation to your inheritance, because it is already subject to a tax, through inheritance taxes, which are collected by the Regions, and not by the federal State .
What inheritance tax?
The amount deducted for inheritance tax also differs depending on the Region concerned… But there is no question of choosing: the location of the inheritance declaration depends on the situation of the last tax domicile of the deceased.
For information, Bernadette, the 1st tax bracket is the same in all Regions, namely 3%. But it covers different realities: a legacy of 0,000 to 50,000 in Flanders and Brussels, but only 0 to 12,500 in Wallonia. The south of the country imposes a tax of 4% from €12,500 to €25,000, and 5% from €25,000 to €50,000 and in total, 9 inheritance brackets (maximum 30%, above €500,000 ). Note that in Flanders, beyond 250,000, the tax is 27%. This, for direct line inheritances. An inheritance between brother and sister starts with a tax bracket of 20% (below €12,500) and ends at 65% above €175,000.
Inheritance tax must be paid to the receiver of the registration office where the declaration of inheritance was filed. They must be paid within 2 months following the expiry date of the deadline set for filing the declaration. After this period, interest will be charged.
Note that reductions exist, such as an exemption from inheritance tax for modest inheritances (€1,250 or less) for a brother, sister, uncle, aunt or nephew.
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