Inheritance and Taxation
The terms such as “death in taxes” and the “taxman never sleep” simply explains the fact that one cannot escape from paying taxes on their inheritance. While few countries exempt tax on inheritance, many charges anything from 3% to 50% tax as death tax or inheritance tax. Tax handing and filing are not only complicated and cumbersome, it can also be very costly and frustrating. The issue of Crypto asset taxation is a very sensitive matter. It is not only confusing and unclear but there is also no clear guideline on how much tax should be paid and how they should be paid.
Under octowill platform, a panel of inheritance tax experts will be able to advise and consult you on legal implications and requirements as well as provide assistance and guidance on the process of settling taxes on inheritance so that your beneficiary’s allocation is not taken away by the taxman.
The octowill tax service also allows you to pre-purchase WILL (token) and pre-pay some of the future tax at a fraction of the cost. In this way, you and your beneficiary could end up saving thousands of dollars in tax and legal bills. You will be able to anticipate, preamp and prepare for the eventuality before it stares your beneficiary upon your demise. Remember this, “the tax man never sleeps”.