Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
generation-skipping transfer tax
A gift or estate tax imposed on a generation-skipping transfer or a generation-skipping trust. - Also termed generation-skipping tax; transfer tax. IRC (26 USCA) ยงยง 2601-2663. See DIRECT SHIP; GENERATION-SHIPPING TRANSFER; generation-skipping trust under TRUST; TAXABLE DISTRIBUTION; TAXABLE TERMINATION.