The OECD published a new report on Inheritance Taxation in OECD Countries. The report finds that Ireland’s total tax revenues sourced from inheritance, estate and gift taxes as a portion of total tax revenues of 0.68 percent is above the OECD average of 0.5 percent. The report states that the gap in Ireland between those who are likely to inherit and those who are not is the highest of all the countries surveyed.

The report explores the role that inheritance taxation could play in raising revenues, addressing inequalities and improving efficiency of tax systems in the future and provides a comparative assessment of inheritance, estate and gift taxes across the 37 members of the OECD.

The report points out that inheritance taxes can reduce wealth concentration and enhance equality of opportunity. It also notes that inheritance taxes have generally been found to generate lower efficiency costs than other taxes on the wealthy, and to be easier to assess and collect than other forms of wealth taxation.

The report proposes a range of reform options to enhance the revenue potential, efficiency and fairness of inheritance, estate and gift taxes.