A recent study indicates that nearly 70% of seniors in Europe believe that transfer taxes are excessively high, while most still see supporting their children financially as a priority.
A significant majority of seniors in Europe, approximately 70%, feel that the inheritance and donation taxes in their respective countries are too high, according to a new study conducted by Cetelem, a BNP Paribas banking observatory, published on February 10. The research, which sampled over 10,000 individuals aged 18 and older across ten European nations, highlights a common concern among older adults about the financial impact of these taxes on family support and wealth transfer.
Furthermore, despite their concerns regarding tax burdens, the study reveals that a strong sense of financial responsibility remains prevalent among seniors, with most believing it is essential to provide financial support to their children. This dual perspective suggests that while high taxes are a significant worry, the cultural value placed on familial financial assistance is still strong across many European countries.
Conducted from November 19 to December 1, the survey involved participants from Germany, Belgium, Spain, France, Italy, Poland, Portugal, Romania, the United Kingdom, and Sweden. The implications of these findings may prompt policymakers to reconsider tax structures affecting inheritance and donations, as public sentiment reflects a pressing need for more favorable fiscal conditions under which families can support one another economically.
