Citing recent revenue figures from inheritance tax, the SPD is urging the Union to conduct a swift reform of the current regulations. According to Wiebke Esdar, the deputy chair of the SPD parliamentary group, the new data demonstrated the urgent need to make the inheritance tax system more equitable, as reported by the “Rheinische Post”.
Esdar criticized the system, noting that while larger and larger fortunes are being transferred, 3.7 billion euros in corporate assets were exempt from tax in the last year alone. She stressed that those inheriting extremely large fortunes must make a fair contribution to the common good and reaffirmed the SPD’s “Fair.Erben” concept.
She emphasized that the reform must also protect the broad middle class and small businesses. Currently, with the five-million-euro exemption threshold, over 85 percent of companies are shielded from inheritance tax. The SPD deputy leader stated that the aim is to target only the truly massive fortunes. Consequently, the party is demanding that the inheritance tax be reformed within the current legislative period.
