More than €170 million ($130 million) was paid by Irish residents in inheritance tax in 2004, a significant increase on the €128 million pai...

More than €170 million ($130 million) was paid by Irish residents in inheritance tax in 2004, a significant increase on the €128 million paid in IHT the previous year, according to figures recently released by Ireland's Revenue Commission. The number of asset classes covered by inheritance tax has also increased. The amounts the Irish have willed to relatives have significantly increased in recent years, in order to take advantage of tax breaks relating to asset transfers between spouses, or to children, according to reports in the Irish press.