Capital Transfer Taxes (EEC Countries)

HC Deb 03 February 1975 vol 885 cc369-70W

Mr. Skeet

asked the Chancellor of the Exchequer (1) if he will give a list of the capital transfer taxes in other EEC countries, including rates;

(2) how do the legislatures in the Federal Republic, France, the Netherlands and Italy provide for the tax on the transfer of assets of the following classifications, (a) upon death and (b) upon assignment during the lifetime of the owner to his children: owner-occupied property, agricultural land, small firms engaged in manufacturing, and professional partnerships, respectively.

Dr. Gilbert

The information the hon. Member is seeking will take some time to assemble and I shall write to him as soon as possible.

Mr. Skeet

asked the Chancellor of the Exchequer whether any European country makes its capital taxes subject to, or adjustable for, the current rates of inflation.

Dr. Gilbert

None that I am aware of, but for the capital gains tax in Sweden the acquisition cost of real property is adjusted by reference to the consumer price index if the asset was held for more than two years before disposal.