Gift tax

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This article is about the general concept of gift taxes. For its application in USA, see Gift tax in the United States.

In economics, a gift tax is the tax on money or property that one living person gives to another.[1] Items received upon the death of another are considered separately under the inheritance tax. Many gifts are not subject to taxation because of exemptions given in tax laws. The gift tax amount varies by jurisdiction, and international comparison of rates is complex and fluid.


  1. ^ O'Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 368. ISBN 0-13-063085-3.