Inheritance tax, also known as estate tax or death duty, is a tax levied on the transfer of assets from one person to another upon the death of the owner. It is typically paid by the beneficiary of an estate and is based on the value of the inherited property. The amount of inheritance tax due depends on various factors such as the relationship between the deceased and the beneficiary, the size of the estate, and the laws in place within a particular jurisdiction. In some countries, there are exemptions or allowances for certain types of assets or relationships, which can help to reduce the overall tax burden. The proceeds from inheritance tax may be used by governments to fund public services or other initiatives.