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The Impact of the Estate and Gift Tax Reforms in 2009 and 2017 on Inter Vivos Giving
Estate and gift tax
Inter vivos giving
|Issue Date:||2021-01-04 11:21:40 (UTC+8)|
|Abstract:||本文藉由2001年至2018年的遺產及贈與稅申報核定資料，並應用差異中之差異法 (difference in difference, DID) 分析我國2009、2017年遺產及贈與稅稅制改革對個人生前贈與行為的影響；其中，生前贈與行為包括：贈與意願 (以Probit模型估計)、分年贈與次數、平均年贈與金額以及總贈與金額等四個面向。|
Based on estate tax and gift tax returns from 2001 to 2018 and using a difference-in-difference approach, this study analyzes the impact of the estate and gift tax reforms in Taiwan in 2009 and 2017 on inter vivos giving, including four aspects: the willingness to make inter vivos transfers (estimated by a probit model), the number of annual gifts, the average amount of annual gifts, and the total amount of gifts.
Results suggested that after the large estate and gift tax cut in 2009, decedents whose net worth was higher than the estate tax exemption significantly increased the willingness to make inter vivos transfers, the number of annual gifts, the average amount of annual gifts, and the total amount of gifts. Furthermore, the increasing effect was greater with increasing decedents’ net worth and smaller with the increasing property share in net worth. After the small estate and gift tax increase in 2017, decedents did not significantly decrease inter vivos giving overall. However, low net worth decedents increased inter vivos giving while high net worth decedents decreased inter vivos giving, which was also consistent with the trend that the decreasing effect was greater with increasing decedents’ net worth. Additionally, the effective tax rate elasticity of giving from these two tax reforms showed that the tax rate elasticity of the tax increase was larger than that of the tax cut. It represented the tax increase effect on inter vivos giving was greater than the tax cut effect under the same degree of tax increases and cuts.
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