Inheritance tax in Republic in Serbia

In legal terms, inheritance implies the distribution of a deceased person's inheritance to his/her inheritors. The division of inherited goods is done in accordance with the prescribed legal norms. Inheritance Law largely regulates the institution of inheritance, while the Law on Non-contentious Procedure clearly defines probate proceedings. In addition to the mentioned laws, inheritance tax is regulated by tax regulations. Due to the complexity of the subject matter, this paper shall focus primarily on the inheritance institution from the perspective of taxation law. In doing so, particular attention will be paid to the varying inheritance tax rates in different countries. The aim of the paper is to draw attention to factors which are relevant to the studied matter, i.e. inheritance tax, as well as to discuss the economic aspects of taxation. The methods that will be used in the paper are the normative method, which will enable us to look at the studied topic from the perspective of legislation, as well as the content analysis method. Comparative analysis will help us discover the differences in inheritance tax rates across countries. The conclusions we will try to reach are actually the answers to the three questions: What is the subject of taxation, who are the taxpayers and what is the exact amount of tax liability, i.e. inheritance tax.