Saxony received 69.9 million euros from inheritances and gifts last year. A total of 620 million euros was left behind in more than 2,300 inheritance cases, as announced by the State Statistical Office in Kamenz on Thursday. Around a third (35 percent) was accounted for by bank deposits, 28 percent by land or residential property and 19 percent by securities.
About 3400 heirs paid tax on a total of around 270 million euros - taking into account the statutory allowances. Around 59.1 million euros in inheritance tax was paid. In most cases (64 percent), the taxable acquisition was less than 50,000 euros, with only a good third of inheritances exceeding this amount.
According to the authority, taxes from inheritances and gifts only benefit the state budget. However, most of them are tax-free due to high tax allowances and therefore do not appear in the statistics.
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