The effect of the recent inheritance tax reform on bequest behaviour in Japan Yoko Niimi
By: Niimi, Yoko
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Material type: 
ArticlePublisher: 2019Subject(s): SUCESION | HERENCIA | TRANSMISION DE BIENES | IMPUESTOS | REFORMA | JAPONOnline resources: Click here to access online
In:
Fiscal Studies v. 40, n. 1, March 2019, p. 45-70Summary: This paper examines the behavioural response of households to wealth transfer taxation using household survey data from Japan, with particular attention being paid to the implications of different bequest motives that households may have. The data reveal that relatively few households plan to reallocate the newly
taxable amount of wealth to their own consumption or inter vivos transfers in response to the recent lowering of the basic deduction of the inheritance tax. Our analysis shows that this partly reflects the fact that a relatively large share of households have no or a weak bequest motive in Japan. However, our
estimation results also suggest that parentswith an altruistic bequest motive are more likely to avoid an increase in their children’s tax bill by reallocating the newly taxable amount of wealth to inter vivos transfers than those with no or a weak bequest motive.
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| Artículos | IEF | IEF | OP 1472/2019/1-3 (Browse shelf) | https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-5890.12181 | Available | OP 1472/2019/1-3 |
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| OP 1472/2019/1 Fiscal Studies | OP 1472/2019/1-1 Principles of tax design, public policy and beyond | OP 1472/2019/1-2 Public support for older disabled people | OP 1472/2019/1-3 The effect of the recent inheritance tax reform on bequest behaviour in Japan | OP 1472/2019/1-4 Fiscal rules and Government financing costs | OP 1472/2019/1-5 Slowing fossil fuel extraction | OP 1472/2019/2 Fiscal Studies |
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This paper examines the behavioural response of households to wealth transfer taxation using household survey data from Japan, with particular attention being paid to the implications of different bequest motives that households may have. The data reveal that relatively few households plan to reallocate the newly
taxable amount of wealth to their own consumption or inter vivos transfers in response to the recent lowering of the basic deduction of the inheritance tax. Our analysis shows that this partly reflects the fact that a relatively large share of households have no or a weak bequest motive in Japan. However, our
estimation results also suggest that parentswith an altruistic bequest motive are more likely to avoid an increase in their children’s tax bill by reallocating the newly taxable amount of wealth to inter vivos transfers than those with no or a weak bequest motive.
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